Psyched: Delic Buys 10 Ketamine Clinics For $10M, Atai Launches Ibogaine Human Trials, Small Pharma Concludes Phase 1 DMT Study

The Week In Psychedelics:

  1. Delic Signs $10 Million Merger With Chain Of Ketamine Clinics
  2. Atai Subsidiary DemeRx Launches Phase 1/2a Clinical Trial On Ibogaine
  3. Small Pharma Completes Phase 1 Trial on DTM For Depression, Moves to Phase 2a
  4. MindMed and Liechti Lab Release Research Results On LSD, Psilocybin And SSRIs
  5. Awakn Buys Rights To MDMA In Alcoholism Study
  6. Seattle Could Soon Decriminalize Natural Psychedelics
  7. The Milestone Round

Delic Signs $10 Million Merger With Chain Of Ketamine Clinics

Delic Holdings Corp.(CSE: DELC) (OTCQB: DELCF) has entered into a binding merger agreement with Ketamine Wellness Centers Arizona LLC, a company operating 10 ketamine infusion treatment clinics across the country.

The $10 million transaction will involve $5 million in cash and another $5 million to be paid in Delic shares.

Ketamine Wellness Centers has locations in Arizona, Colorado, Florida, Illinois, Minnesota, Nevada, Texas and Washington. The company has overseen an aggregate of 60,000 treatments to date.

According to the companies, Ketamine Wellness Centers has been operating profitably with 2020 revenues in excess of $3.5 million.

The clinics will be added to Delic’s assets, which already include two ketamine therapy clinics.

"We have been fortunate to earn the trust of a diverse patient base as the largest chain of clinics in the country and were looking for a partner that could help scale our efforts to reach the greatest number of those who can benefit from psychedelic wellness treatments,” said Kevin Nicholson, CEO of Ketamine Wellness Centers.

Atai Subsidiary DemeRx Launches Phase 1/2a Clinical Trial On Ibogaine

DemeRx IB, Inc, a subsidiary of Atai Life Sciences (NASDAQ: ATAI), has begun a phase 1/2a clinical trial of ibogaine on healthy volunteers and recreational drug users.

The trial is expected to shed light on ibogaine’s ability to treat opioid addiction, a malady affecting at least one million Americans each year.

“The CDC tallied 93,000 drug overdose deaths in 2020, 70,000 of which involved opioids,” said Srinivas Rao, chief scientific officer of Atai Life Sciences.

The company announced on Tuesday that the initial subjects of the trial had received their first doses of DMX-1002, the company’s proprietary oral formulation of ibogaine at the Manchester clinical unit of MAC Clinical in the UK.

The trial is expected to assess safety, tolerability, pharmacokinetics and efficacy …

Full story available on Benzinga.com

The trial is expected to assess safety, tolerability, pharmacokinetics and efficacy …

Full story available on Benzinga.com

More Psyched: Delic Buys 10 Ketamine Clinics For $10M, Atai Launches Ibogaine Human Trials, Small Pharma Concludes Phase 1 DMT Study