Novamind Opens 5th Clinic Location Specialized in Integrative Psychiatry for Patients with Treatment-Resistant Conditions

Rhea-AI Summary

Novamind Inc. announced the opening of its new clinic in Draper, Utah, specializing in integrative psychiatric care for treatment-resistant conditions like depression and PTSD. This clinic marks the fifth location and is part of an expansion plan to open four new clinics by September 2021. The facility will incorporate psychedelic-assisted psychotherapy and serve as a research site for clinical trials. CEO Yaron Conforti emphasized the importance of expanding access to various treatments in response to high patient demand, aiming to innovate mental health care.

Positive

• Opening of a new clinic in Draper, Utah, enhancing patient access.
• Expansion plan to open four additional clinics by September 2021, doubling the network.
• Focus on innovative psychedelic-assisted psychotherapy for treatment-resistant conditions.
• Dedicated clinical research facility is integrated into the new clinic for trial participation.

Negative

• None.

Company executes organic growth mandate, on track to open four new clinics by Q3 2021

TORONTO, ON / ACCESSWIRE / July 29, 2021 / Novamind Inc. (CSE:NM)(OTC PINK:NVMDF)(FSE:HN2) ("Novamind" or the "Company"), a leading mental health company specialized in psychedelic medicine, is pleased to announce that it has completed the construction of a new clinic focused on integrative psychiatric care and clinical research in Draper, Utah (the "New Clinic"). The New Clinic is centrally located along the Wasatch Front, where the majority of Utah's population resides and will serve as a referral center for clients with treatment-resistant mental health conditions including depression, eating disorders, post-traumatic stress disorder (PTSD), and obsessive-compulsive disorder (OCD).

With the opening of the New Clinic, Novamind is on track to open four new locations in Utah by September 2021, doubling the size of its network to eight clinics. Through strategic acquisitions and accelerated organic growth, Novamind anticipates expanding across other US states by the end of 2021.

The New Clinic is purposefully planned and built to provide the most ideal setting to conduct psychedelic-assisted psychotherapy. It thoughtfully incorporates design elements from Novamind's new flagship clinic concept that will be unveiled to the public in the near future. The New Clinic enables client access to the Company's innovative, evidence-based therapies in individual and group settings, and will also serve as a key training site for clinicians. Upon future U.S. Food and Drug Administration (FDA) approval, the New Clinic anticipates providing more psychedelic therapies and medicines including MDMA and psilocybin.

"We are on a mission to reduce suffering and optimize wellness and are committed to shaping the future of psychedelic medicine in a responsible and accessible way," said Dr. Reid Robison, Novamind's Chief Medical Officer. "With traditional mental health treatments proving ineffective for too many, we look forward to providing psychedelic-assisted psychotherapy at the Draper clinic for treatment-resistant conditions."

The New Clinic is also home to a dedicated clinical research facility, supported by Novamind's expertise in trial design and implementation. When appropriate, clients of the New Clinic may consent to participate in clinical trials for psychedelic medicine and other research-stage treatments. The New Clinic will also host research studies to validate Novamind's evidenced-based psychedelic-assisted psychotherapy protocols for treatment-resistant conditions.

"Opening the new Draper site is in direct response to overwhelming patient demand at our clinics, but it's also part of a much larger initiative," said Yaron Conforti, CEO and Director of Novamind. "Access to a broader range of treatments has never been more critical for people in need of mental healthcare, and Novamind is in a unique position to provide that access through our national expansion."

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics, retreats, and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements

This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the Company's public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

SOURCE: Novamind Inc.

View source version on accesswire.com:
https://www.accesswire.com/657566/Novamind-Opens-5th-Clinic-Location-Specialized-in-Integrative-Psychiatry-for-Patients-with-Treatment-Resistant-Conditions

FAQ

What does Novamind Inc. do?

Novamind Inc. specializes in mental health treatments, particularly psychedelic medicine, and operates a network of clinics.

When is the new clinic in Draper, Utah opening?

The new clinic in Draper, Utah is now open as of July 29, 2021.

What conditions does Novamind's new clinic focus on?

The new clinic focuses on treating conditions such as depression, PTSD, eating disorders, and OCD.

How many clinics does Novamind plan to open by September 2021?

Novamind plans to open four new clinics by September 2021.

What future treatments will the new clinic offer?

Upon FDA approval, the clinic anticipates offering more psychedelic therapies including MDMA and psilocybin.