TORONTO, ON / June 17, 2021 / Novamind Inc. (CSE:NM)(OTC PINK:NVMDF)(FSE:HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, announces that it has made a strategic investment of US$1,000,000 (the “Strategic Investment”) in a stealth mode drug development company based in the United States (the “Investee”).
The Investee operates a drug discovery and development business focused on neuropsychiatric disorders. Novamind’s Strategic Investment represents a minority equity investment in the Investee, part of a Series A financing led by Apeiron Investment Group pursuant to which the Investee raised aggregate gross proceeds of US$25,000,000.
The Strategic Investment leverages Novamind’s expertise in patient recruitment and patient management for the Investee’s development of novel treatments for neuropsychiatric disorders.
Novamind expects to share further details relating to the Strategic Investment as they become available when confidentiality restrictions are lifted.
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.