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Novamind Selected by Merck to Advance Research for Treatment-Resistant Depression

Featured Submission, Featured Submission
1 Comment| March 19, 2021

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Novamind’s subsidiary, Cedar Clinical Research, to serve as a key clinical research site

  • Independent validation of the expertise and capabilities of Novamind in managing clinical trials
  • Adds to established track record conducting research alongside MAPS and J&J (Janssen)
  • Currently contracted for seven clinical trials supporting major pharmaceutical companies

Cedar Clinical Research (CCR), by Novamind Inc. (CSE: NM, OTC: NVMDF, FSE: HN2, Forum) has been selected as a key research site for a clinical trial focused on treatment-resistant depression by Merck (NYSE: MRK), a world-leading pharmaceutical company. The Merck-awarded project is the latest in a string of research contracts for Novamind, a fast-growing provider of innovative mental health treatments, including psychedelic medicine.

Novamind’s CCR, an established US-based mental health clinical research organization, was chosen to be a host for a phase II study to assess the efficacy and safety of a new Merck drug for treatment-resistant depression (TRD). This mental health condition affects approximately 30% of people who suffer from major depressive disorder. That represents approximately 80 million people globally who are currently suffering from TRD without any form of effective treatment. Depression is a leading cause of disability worldwide.

Cedar Clinical Research became widely known for its work in psychedelic medicine following Dr. Robison’s role as a Principal Investigator in Utah for a clinical trial that led to the first approval of J&J’s (NYSE: JNJ) Spravato™ in March 2019. Dr. Robison has served as an investigator on over 100 clinical trials, many of which focused on psychedelic medicines and emerging therapies in neuropsychiatry.

As for the new trial, Merck’s decision to partner with Novamind stems from its deep experience hosting phase I to phase IV clinical trials. Cedar Clinical Research’s capabilities, which include trial design, patient recruitment, and patient management, have drawn research business and collaborations with pharmaceutical companies, academic institutions and non-profit groups. This contract provides independent validation of the expertise and capabilities of CCR in managing clinical trials for novel mental health therapies.

Cedar Clinical Research is currently contracted for seven clinical trials. In addition to those trials, CCR is also contributing to studies examining psychedelic medicine, including the MAPS-sponsored phase II clinical trial of MDMA-assisted psychotherapy for eating disorders, a ketamine-assisted psychotherapy study (KAP) for end-of-life palliative care with the Ketamine Research Foundation, and a ketamine study to treat suicidal ideation in partnership with the University of Texas, Austin.

About Novamind:

(Click image to play video.)

Novamind at a glance:

Novamind is treating people, today, with ground-breaking mental health treatments, including psychedelics. Novamind is developing treatment protocols for psychedelic-assisted psychotherapy that can be adapted and applied to future FDA-approved psychedelic medicines.

  • Operates a growing network of clinics, research sites and retreats for psychedelic medicine
  • 20,000+ client visits in 2020, C$1.3M in fiscal Q2 revenue1.
  • A leading provider of ketamine-assisted psychotherapy and other innovative treatments including SpravatoTM and TMS
  • Positioned to administer MDMA and psilocybin-assisted psychotherapy post-FDA approval
  • Expanding globally via organic growth and acquisitions

Novamind’s Clinical Care: Cedar Psychiatry

Novamind’s growing network of outpatient mental health clinics is dedicated to healing people by enabling access to innovative therapies, including psychedelic medicine.

Click to enlarge

Founded in 2016, Cedar Psychiatry is one of America’s top providers of psychedelic medicine.

Treatment options include:

  • Ketamine therapy, 5,000+ treatments 2, +90% YoY1
  • SpravatoTM therapy, 2,000+ treatments 3, +400% YoY1
  • Transcranial Magnetic Stimulation (TMS)
  • Cognitive Behavioral Therapy (CBT)
  • Medication management and diagnostic evaluations

Novamind is rapidly expanding to meet record demand for innovative mental healthcare:

  • Booking new appointments ~2 weeks in advance
  • COVID-19 linked to 3x increase in depression 4
  • Expansion via organic growth and M&A
  • Increasing telehealth capacity
  • Multistate clinic footprint planned in 2021
  • Pipeline of acquisition targets

Novamind’s mental health research arm: Cedar Clinical Research

Click to enlargeCCR provides clinical trial services for neuropsychiatry and psychedelic medicine. It conducts phase I to IV clinical trials and is uniquely positioned to accelerate numerous psychedelic clinical trials that are already planned and in process. In addition to Merck, it has facilitated research with several well-known partners including Johnson & Johnson (NYSE: JNJ), Janssen, The University of Austin Texas, Emalex Biosciences, Avanir and the Ketamine Research Foundation.

A key area of focus is on the creation of treatment protocols for psychedelic medicines to address difficult-to-treat conditions such as treatment-resistant depression, anorexia and eating disorders. These protocols detail the specific psychotherapeutic interventions and support that are provided in the days before, during and after a psychedelic therapy session, and are a critical component of improving outcomes with psychedelic medicine.

Key highlights

  • Currently contracted for 7 clinical trials
  • Developing psychedelic therapy protocols; current protocols under development include:
    • EF-KAP | Emotion-Focused Ketamine-Assisted Psychotherapy for eating disorders
    • G-KAP | Group Ketamine-Assisted Psychotherapy for depression
  • Expansion via new research sites & contracts

Treating people today, positioned for what’s next

Novamind is on a mission to provide access to medically safe, evidence-based mental health treatments. The company plans to expand globally via organic growth and acquisitions of established clinics and research sites.

Novamind’s new research project with Merck for treatment-resistant depression is one of many mental health ailments it’s tackling. Through innovative research, industry-leading treatment protocols, and partnerships with pharmaceutical companies and research institutions, Novamind is poised for a leadership role in the psychedelic mental health revolution.

Get the whole investment picture

For the Novamind Investor Deck, click here.

For the Novamind Fact Sheet, click here.

FULL DISCLOSURE: Novamind Inc. is a client of Stockhouse Publishing.

1Three months ending December 31, 2020
2 2019-2020 2 Since 2016
3 Since 2019

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