- SHRM to acquire AltMed Capital Corp, a Canadian ketamine clinic operator, psychedelic medicine IP aggregator and novel drug discoverer
- Champignon to roll out five unique ketamine clinics across Florida, California and the U.S. Eastern seaboard
- CRTCE is only center worldwide to demonstrate rapid onset treatments improve health outcomes within weeks
Champignon Brands Inc. (CSE: SHRM) (OTC: SHRMF) (FWB: 496), a Canada-based company dedicated applying novel and natural treatment protocols with an emphasis on psychedelic medicine, has entered into a definitive agreement to acquire AltMed Capital Corp, a Canadian ketamine clinic operator, psychedelic medicine IP aggregator and novel drug discoverer (http://cnw.fm/e28Bh). The strategic move allows SHRM to continue its focus on advancements within the psychedelic medicine arena, as it also acquires AltMed’s suite of assets, including a portion of the Canadian Rapid Treatment Centre of Excellence (CRTCE).
“Founded and operated by Dr. McIntyre, the CRTCE has the human capital and unmatched R&D capabilities, with respect to rapid onset treatments such as ketamine, to revolutionize the treatment of depression, PTSD and substance-use disorders,” Champignon CEO Gareth Birdsall stated in a news release. “Champignon and AltMed will leverage Dr. McIntyre’s expertise, alongside the CRTCE’s existing SOPs, data-driven research sets and practitioner education modules, to roll out five unique ketamine clinics across Florida, California and the U.S. Eastern seaboard. Our additional ketamine clinics are projected to be fully operational by Q4 2020. Furthermore, having previously completed funding rounds, our acquisition of AltMed will further bolster our corporate treasury.”
A professor of psychiatry and pharmacology at the University of Toronto and head of the mood disorders psychopharmacology unit at the University Health Network in Toronto, AltMed CEO Dr. Roger McIntyre has an impressive list of credentials. In addition to being executive director of the Brain and Cognition Discovery Foundation in Toronto and director and co-chair of the Scientific Advisory Board of the Depression and Bipolar Support Alliance in Chicago, McIntyre is teaching or has taught at numerous institutions, including Guangzhou Medical University, the College of Medicine at Korea University, the State University of New York Upstate Medical University and the University of California School of Medicine. Clarivate Analytics named McIntyre one of the World’s Most Influential Scientific Minds each year from 2014-2019, and he is widely regarded as the world’s most recognized psychiatrist in relation to mood disorders.
In addition, McIntyre created CRTCE, Canada’s first-ever treatment center providing rapid onset treatments for persons with mood disorders. In addition to providing treatment (the acquisition announcement noted that the CRTCE is the only center worldwide to demonstrate that rapid onset treatments improve health outcomes in one to two weeks), the CRTCE is involved in what it calls knowledge application and knowledge generation. The application component includes using existing scientific research to improve outcomes in depression, PTSD and substance and alcohol use disorders as well as educating health-care providers throughout North America and the world on new rapid onset treatments for these disorders. The generation component involves research and development.
In addition, the acquisition means that Champignon now has three trials in the Phase I stage and three trials in the preclinical stage during 2020 as well as seven IP patents for its ketamine/psilocybin delivery platforms and formulations. Working closely with AltMed, Champignon plans to advance psychedelic-derived treatments and establish the most compelling IP portfolio, clinical pipeline and drug-development platform in the psychedelic medicine space.
“Together with Champignon’s existing novel ketamine delivery platforms, associated patents/IP and now advanced clinical infrastructure, we will look to deliver approved, point-of-care psychedelic treatments in clinics throughout Canada and the United States,” said AltMed director Pat McCutcheon. “Ketamine, psilocybin and MDMA have all been fast-tracked by the FDA and Health Canada with respect to R&D in DPS, and we will look to monetize our capabilities and human capital within this domain.”
Champignon seeks opportunities to promote the health and wellness benefits of functional mushrooms, which are used in a wide variety of health-care and pharmaceutical products. The company’s flagship e-commerce store, VitalitySuperTeas.com, takes advantage of the burgeoning craft mushroom industry with a selection of mushroom-infused teas and accessories; SHRM is also expanding its preclinical trial pipeline and branching out into alternative medicine and pharmaceuticals.
For more information, visit the company’s website at www.ChampignonBrands.com
NOTE TO INVESTORS: The latest news and updates relating to SHRM are available in the company’s newsroom at http://cnw.fm/SHRM
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