- MINDCURE just announced receiving its HIPAA certification for iSTRYM, its AI-powered, SaaS platform for psychedelic therapy
- This marks a key milestone for the company, having already exceeded its target of 10 partner clinics by the end of 2021
- It also inches the company closer to the platform’s commercial deployment, set for the second quarter of 2022
- This comes just in time, following the appointment of Dr. Doron Sagman as the company’s new CMO
- MINDCURE’s Life Sciences Virtual Conference Presentation will also be available for on-demand viewing 24/7 for the next 90 days
Mind Cure Health (CSE: MCUR) (OTCQX: MCURF) has been at the forefront of the mental health industry, developing digital therapeutics and researching various psychedelic compounds. Such a blend in its approach has placed the company in a unique position to address these medical needs and stamp its position in the market.
In what marks a significant leap towards commercial viability and bringing its products and services even closer to consumers, MINDCURE just announced receiving Health Insurance Portability and Accountability Act (“HIPAA”) certification for its flagship product, iSTRYM (https://ibn.fm/74y1o).
iSTRYM is a software-as-a-service (“SaaS”) and artificial intelligence (“AI”)-driven platform that allows for personalized and quantified outcomes in psychedelic therapy. Through this platform, MINDCURE can modernize care, taking it from manual to digital and bringing better treatment outcomes for patients and therapists while keeping costs low for insurers.
While making the announcement, Geoff Belair, MINDCURE’s Chief Technology Officer (“CTO”), noted, “We want to be the company that people trust with their minds, and achieving HIPAA is the first step of many in building that trust. At MINDCURE, we passionately defend data privacy and will ensure it is a core part of what we provide.”
This HIPAA certification marks the second most significant achievement for the company’s platform, having initially exceeded the announced target of 10 partner clinics by the end of 2021. As of October, MINDCURE had over 20 partnerships with ketamine clinics in nine states in the United States and three provinces in Canada.
“Our ability to partner with these clinics serves to validate our confidence in the iSTRYM platform and its value to patients and clinicians,” noted Kelsey Ramsden, the President and Chief Executive Officer (“CEO”) of MINDCURE.
With the achievements so far, MINDCURE is confident that it will achieve its goal of commercially deploying the iSTRYM platform within the second quarter of the 2022 calendar year. Additionally, back in August, the company released the minimum viable product (“MVP”) of iSTRYM’s digital therapeutics technology (“DTx”). The objective was to partner with clinics across North America, a move that has yielded notable results that further inform the development of iSTRYM as it plans for the 2022 launch.
“Receiving HIPAA compliance is a significant milestone for MINDCURE, which supports our goal of commercially deploying iSTRYM in the second quarter of 2022, as well as generating near-term revenue for the platform,” noted Ms. Ramsden.
“We developed iSTRYM as a drug-agnostic tool that we will be able to scale beyond psychedelics and into other therapeutic fields, which could result in additional revenue opportunities for MINDCURE in the future,” she added.
This certification comes just in time given the appointment of Dr. Doron Sagman as MINDCURE’s Chief Medical Officer (“CMO”). Dr. Sagman will play an integral role in furthering the company’s mission to reinvent the mental health care model for both patients and practitioners while advancing psychedelic-assisted therapy into common and accepted care (https://ibn.fm/L6JWC).
Dr. Sagman lends over 18 years of experience in the pharmaceutical industry, having held leadership positions in clinical development, medical research, medical affairs, and regulatory affairs. He is excited about the industry and is delighted to be part of the MINDCURE team.
“We are entering a pivotal and historical phase of medical discovery for patients who suffer from mental health disorders. I am delighted to join MINDCURE’s leadership team and work to advance innovative solutions to best meet unmet mental health needs,” he noted.
On December 16, MINDCURE presented at this year’s Life Sciences Virtual Investor Conference. This year’s conference featured live presentations from CEOs and top executives who shared insights into their businesses and investment stories while also answering investors’ questions.
All company presentations from the event, including MINDCURE’s, will be available 24/7 for the next 90 days, starting December 20. In addition, advisors, investors, and analysts may download shareholder materials from the company’s “virtual trade booth.”
You can register or login to view the presentations here https://ibn.fm/cqG6R
For more information, visit the company’s website at www.MindCure.com.
NOTE TO INVESTORS: The latest news and updates relating to MCURF are available in the company’s newsroom at http://ibn.fm/MCURF
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