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Mind Cure Health, targeting high growth markets, submitted a provisional patent for iSTRYM, its AI-driven digital therapeutics tool for psychedelic therapy. The global digital therapeutics market is projected to reach $56 billion by 2025, while the psychedelic market is expected to exceed $7.5 billion by 2028. The tool aims to enhance therapist and patient interactions, providing data-driven insights for improved treatment efficacy. Mind Cure's management anticipates significant potential for revenue growth as the DTx sector gains acceptance.
Mind Cure Health Inc. (CSE: MCUR, OTCQB: MCURF) has appointed Ty Tashiro as the Senior Translational and Psychometric Architect for its iSTRYM digital therapeutics platform. His role focuses on enhancing the measurement of therapist and patient inputs to optimize psychedelic-assisted therapies. Tashiro, a psychology Ph.D. with significant academic and professional credentials, aims to revolutionize mental health support. Additionally, the company has engaged Dales Report Inc. for a six-month web series at a cost of CDN$45,000 and issued 475,000 stock options at $0.60 each.
Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) has appointed Tarik Lebbadi as its new Chief Operating Officer, effective immediately. Lebbadi brings extensive experience, having led the medical division at Johnson & Johnson and held key roles in several high-growth companies, including Aurora Cannabis. His operational expertise is expected to enhance MINDCURE's commercial direction and support its strategy of integrating drug discovery, production, and therapeutic support with the iSTRYM platform. The company's focus remains on advancing psychedelic therapy to transform mental health care.
On March 9, 2021, Mind Cure Health (CSE: MCUR, OTCQB: MCURF) announced the receipt of unconditional ethics approval from Veritas IRB for its psychedelic integration protocol research study. This study is aimed at enhancing the company's digital therapeutics platform, iSTRYM, which seeks to become the largest repository of psychedelic experiences. CEO Kelsey Ramsden emphasized the significance of this milestone for scientific validation and trust-building in psychedelic therapy. The research is expected to uncover crucial contributors to effective psychedelic-assisted therapy outcomes.
On March 4, 2021, Mind Cure Health announced via its bioinformatics platform, PsyCollage, the potential of ibogaine to support neuroregenerative pathways crucial in treating neuropathic pain and brain trauma. Ibogaine is a psychoactive substance with a long therapeutic history, known for its anti-addiction effects and neuroprotective properties. The company is synthesizing ibogaine for preclinical and clinical trials, aiming to develop effective treatment options. The report emphasizes the increasing regulatory favorability surrounding ibogaine in Canada.
Mind Cure Health has embarked on manufacturing pharmaceutical-grade ibogaine, anticipated for use in research by Q4. This synthetic ibogaine will support preclinical and clinical studies targeting substance use disorders and potentially other neurodegenerative conditions. The company emphasizes sustainability in its production methods, ensuring reliable and standardized dosing. Dr. Ryan Hartwell highlights ibogaine's therapeutic potential in neuroregeneration. This move aims to streamline research processes while conserving natural ibogaine sources threatened by environmental pressures.
MINDCURE has completed a strategic equity investment amounting to $500,000, acquiring approximately 13% ownership in ATMA Journey Centers. This partnership will enhance MINDCURE's access to patient data and enable the deployment of its iSTRYM platform across ATMA's clinics. The collaboration aims to optimize psychedelic-assisted therapy sessions for better patient care. MINDCURE's President, Kelsey Ramsden, emphasized the importance of this investment for advancing therapeutic solutions in mental health.
Mind Cure Health announces the addition of Rob Hill to its Board of Directors, replacing Terese Gieselman. With over 20 years of experience in capital markets and technology management, Hill is expected to strengthen Mind Cure's leadership in developing psychedelic-related treatments. The company is focusing on its proprietary platforms, iSTRYM and PsyCollage, and aims to leverage AI and machine learning in digital therapeutics. The appointment reflects Mind Cure's commitment to addressing mental health challenges through innovative solutions.
MINDCURE has launched its original line of nootropic and adaptogen supplements, including Lion's Mane Focus, Reishi Energy, Turkey Tail Immunity, and Teen. Available for purchase on their website, shipping starts on February 23, 2021. This launch signifies a key milestone in MINDCURE's product sales strategy aimed at enhancing mental hygiene and overall wellness. The products are made from all-natural ingredients and are designed to boost mental performance and support immune health, with particular attention to teen safety standards as per California's Proposition 65.
Mind Cure Health (CSE: MCUR, OTCQB: MCURF) responded to promotional activities related to its shares, sparked by articles from the National Inflation Association. The Company was unaware of these articles until notified by OTC Markets on February 11, 2021. Mind Cure attributes a recent surge in trading volume to a C$23 million bought deal offering announced on February 10. The Company has also engaged Sandstone Media Inc. for marketing services at a cost of US$1,960,632. No insider trading was reported within the last 90 days, except for a small purchase and sale by key executives.