Numinus Wellness Inc (CVE:NUMI, OTCMKTS:LKYSF) provides proprietary therapeutic services centred around psychedelics. The company is creating an ecosystem of health solutions to research, develop, and deliver safe, evidence-based, accessible psychedelic-assisted psychotherapy.
Numinus has three business divisions – a Health Canada-licensed lab developing IP while offering analytics services for revenue generation, an R&D division developing psychedelic-assisted therapeutic protocols to embed in mainstream healthcare, and a health practitioner division delivering treatments in Numinus-owned clinics.
Numinous holds a licence to produce and extract psilocybe from mushrooms and actually became the first Canadian public company to complete a legal harvest of Psilocybe. But Numinus isn’t just a magic mushroom play; the company possesses a dealer’s licence from Health Canada to import, export, possess, test, and distribute MDMA, DMT, and mescaline. Numinus also holds a cannabis testing licence from Health Canada, allowing it to provide third-party analytics and testing services which adds to its revenue model.
Numinus is partnered with MAPS (Multidisciplinary Association for Psychedelic Studies) and provides the organization with testing sites in Canada. MAPS is a leader in the psychedelic space, having taken MDMA through phase 3 clinical trials. Numinus is MAPS’s only collaborative partner.
“We like to believe we are a leader in the space, especially for how long that we have been at this. The company has been founded for 3 years. Really when we founded the company, Compass Pathways was the only company we knew of in the space. But, our lab has been operating for over 10 years, the clinics that we have acquired, our location in Vancouver has been operating for about 6 years now, and our locations on the east coast over 10 years as well. We have a significant amount of experience and partnerships with groups like MAPS.” – Numinus Wellness CEO Payton Nyquvest
Watch the full interview to hear about Numinus latest financial results, its strong balance sheet, the current regulatory landscape, and its expansion strategy.
Original article: A Magic Mushroom Company to be Psyched About? | Numinus Wellness (NUMI)
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