$1bn+ digital psychedelics opportunity: MCUR ANALYSIS INTRODUCTION
COVID-19 has exacerbated the mental health crisis grossly with 3x rates of suicidal ideation and 3x rates of depression since the start of the pandemic. More and more of these individuals are turning to substances to cope, spurring an opioid crisis that has increased the number of overdose deaths up to 98% in some states. Due to limited healthcare resources, addicts have not been able to find the support they need. Additionally, those seeking help are having trouble doing so due to the consequences of the pandemic on our already overloaded healthcare system. However, Mindcure, a new company lying at the intersection of psychedelics and digital health therapeutics, is establishing itself as an important player in the fight against mental illness and addiction.
The $6.9bn digital therapeutics market and $10.8bn psychedelics industry set the perfect stage for a highly scalable company to experience explosive growth in the next 5-10 years. Focused on developing digital therapeutics technology, researching psychedelic compounds, and developing therapy protocols, Mindcure is a lucrative opportunity with diverse assets that will provide stability to investors. The company offers first-mover advantage as a highly-integrated psychedelic technology company, creating an insurmountable competitive moat for decades to come.
Further, it is one of the few companies in the space projected to generate revenue within the year by selling a proprietary set of 8 nutraceutical products in Canada and the US. These products focus on improving immune systems, relaxing minds and bodies, and helping to elevate cognitive function.This company is poised to become a dominant player in the field or a highly accretive acquisition target for large players, making it a great buy today.
1. Mindcure’s research division has the capability to become a highly accretive acquisition target due to its proprietary IP
PsyCollage is Mindcure’s proprietary bioinformatics platform that helps identify promising research avenues, such as psychedelic molecule research. This platform improves the efficiency of research selection and execution, and will also enable collaboration with other drug developers in the future.
Specifically, Mindcure is focused on developing synthetic ibogaine to supplement the limited supply of naturally occurring ibogaine, which has proven effective in treating traumatic brain injury (TBI) and opioid addictions, a combined ~$34.0bn+ market. As their target market is clinical trials using ibogaine, their path to profitability and revenue is on an accelerated curve similar to companies such as HAVN Life Sciences, which offer advantages over competitors as critical players in the supply chain rather than focusing solely on clinical research.
2. First-mover advantage in technology and treatments will allow Mindcure to establish a moat and operational know-how faster than competitors
Last Friday, Mindcure announced that they finished developing a proprietary ketamine-enhanced psychotherapy protocol for treatment of pain and depression. Both protocols will be distributed through Mindcure’s innovative software application, iSTRYM, which improves the healing journey for both patients and clinicians. iSTRYM is on track for a clinical launch in Q3 2021.
iSTRYM provides convenient user dashboards, guided mindfulness practices, intelligent data analysis (AI), and more, to optimize therapy for patients and practitioners. Additionally, due to the time needed to administer psychedelics like ketamine with a licensed therapist (avg. 6 hours), there are strong indications that iSTRYM may allow practitioners to administer these medications using telehealth, effectively cutting down on wait times.
Ultimately, iSTRYM enables practitioners to get deeper data insights, administer better care, and reduce costs; furthermore, it will improve compliance, optimize outcomes and increase safety/efficacy with patients in a highly scalable way.
3. World-class team offers investor confidence and a higher probability of success
Mindcure is operated by Canada’s Top Female Entrepreneur, Kelsey Ramsden, who has experience building multiple 8-figure businesses from the ground up. Her right hand man is Dr. Joel Raskin, CMO, a highly esteemed psychiatrist with over 20 years of experience working within the neuroscience drug development field. At Eli Lilly & Co, he played a significant role in the end-to-end drug development process for treatment of psychiatric disorders. Moreover, COO Tarik Lebbadi has extensive experience in international operations and led Johnson & Johson’s Morocco medical division for 4 years. On top of this, CTO Geoff Belair has over three decades of experience working in highly regulated fintech and banking industries as a senior architect and vice president, which will contribute to the commercialization of iSTYRM.
To top it all off, the company is advised by a highly qualified board of advisors, many of which hold MDs of psychiatry or PHD’s specialized in psychedelic research; other members bring relevant commercial experience working as COO of BMO Wealth management, or working as brand builders for highly successful companies such as Rolex, Yankees, and Disney. Ultimately, this team is uniquely positioned to capture a diversified stream of growth opportunities, and their track records indicate success for all shareholders.
CONCLUSION
TLDR; Mindcure is a company with a diversified portfolio of assets in psychedelics and technology that aims to significantly improve mental health while surpassing existing solutions in the market. With an accelerated path to revenue and profitability, the company has a first-mover advantage in multiple markets, positioning itself as a critical player in both the psychedelic and the digital therapy industries. With the combination of industry tailwinds and the management team’s previous track records, Mindcure is poised for explosive growth in the next 5-10 years and has the potential to become a dominant $1bn+ company.