Numinus

Vancouver-based Numinus Wellness operates within the mental health and wellness sector, focusing on psychedelic-assisted psychotherapy. The company is focused on three areas: 1) Health–psychedelic therapy clinics, 2) Research and development (R&D)–supporting pharma companies to host studies, develop medical and therapeutic protocols, and influence regulatory approval for psychedelic clinical trials, and 3) Bioscience–testing, selling, and distributing psychedelic substances. 

In October 2020 the company was the first in Canada to legally harvest magic mushrooms for R&D purposes. As of June 2022, Numinus operates 13 clinics that provide ketamine-assisted psychotherapy, special access to psilocybin, and MDMA (pending Health Canada’s approval), along with compassionate access trials for psilocybin and MDMA. Further, Numinus expanded its clinical network with a new research site in Arizona in February 2023, aimed at advancing psychedelic science. The company also operates a 7,000 sq ft research and testing laboratory center through its subsidiary, Salvation Labs, holding a Dealer’s Licence from Health Canada for MDMA, psilocybin, psilocin, DMT, and mescaline.

The company has made several acquisitions to enhance its capabilities and reach. In December 2020, it acquired two Montreal clinics from Mindspace. In July 2021, it purchased the Neurology Centre of Toronto (NCT), aiming to establish a Centre for Psychedelic Neurology. Further, in June 2022, the company acquired Novamind , which added eight clinics to its network.

Key customers and partnerships

In April 2023 , the company launched a clinic licensing model called the “Numinus Network” that enables independent practitioners to run their own clinic under the Numinus Wellness brand, along with real estate support in partnership with Healing Commercial Real Estate.

Furthermore, the company has several partnerships, including; 1) PharmAla Biotech, to supply GMP-certified LaNeo MDMA for Numinus' clinical trial ( March 2024 ), 2) Multidisciplinary Association for Psychedelic Studies, to support psychedelic experiential opportunities for practitioners in a clinical study ( June 2023 ), and 3) HealingMaps, to increase awareness of Numinus' mental health clinics and licensing model for psychedelic-assisted therapy (PAT) ( June 2023 )

Funding and financials

The company is traded on the TSX Venture Exchanges under the symbol NUMI. In February 2024 , the company raised USD 6 million in a bought deal funding led by Eight Capital, co-joined by Stifel GMP. The new funds were allocated towards working capital and corporate purposes.

For FY2023 , the company reported progress in the company’s growth strategy with revenue of USD 6.1 million, up by 46.8% YoY and a cash balance of USD 8.6 million as of August 31, 2023.