Optimi Health

Optimi Health is an end-to-end drug researcher and formulator licensed by Health Canada to produce and supply psychedelic substances and functional mushrooms. It produces psychedelic substances like 3,4-Methylenedioxymethamphetamine and GMP-grade psilocybin, along with functional mushrooms for the health and wellness markets. The company cultivates dried GMP psilocybin-containing biomass and extracts them into refined substances, which can then be used by clients for research purposes. 

The company received a Natural Health Product Site License from the Natural and Non-prescription Health Products Directorate in May 2023, allowing it to pursue global market distribution. 

Key customers and partnerships

The company has several key partners including; 1) Promises Innovative Recovery Centre (in August 2022) for an international psilocybin supply deal, 2) Avida Global (in September 2022) to enter into a distribution agreement for Optimi’s functional mushroom supplement formulations, 3) Mind Medicine Australia (in March 2023) to supply its MDMA formulation, OPTI-MHCL, and GMP psilocybin capsules, 4) an undisclosed private entity (in May 2023) to supply dried GMP psilocybin-containing biomass, 5) Tel Aviv University to supply  MDMA for research on the effects of MDMA on animal models of alcohol addiction ( March 2024 ).

Funding and financials

Optimi Health is publicly listed on the Nasdaq under the ticker symbol “OPTHF.” In February 202 4, the company raised CAD 1.5 million (USD 1.1 million) through a non-brokered private placement for up to 5,000,000 units at CAD 0.3 per unit (USD 0.2 per unit). The funds were allocated towards commercialization, and general working capital.