Numinus

Numinus Wellness is a mental healthcare company that provides treatment services through its network of clinics. The company specializes in drug-assisted therapy and mental health services, with a focus on evidence-based psychedelic-assisted therapies. Through its clinics, Numinus has administered over 43,600 Spravato (esketamine) and ketamine treatments to patients. The company also operates Cedar Clinical Research, which has conducted clinical research involving four psychedelic medicines administered through different modalities, involving over 50 subjects between 2022-2024. 

In October 2020 the company was the first in Canada to legally harvest magic mushrooms for R&D purposes. 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.

As of October 2024, Numinus operates 5 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. 

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. Also in June 2024, it acquired MedBright AI Investments. In addition, in November 2024, the company sold its Utah clinics to Stella for USD 3.5 million to focus on developing technology-driven solutions.

The company is traded on the TSX Venture Exchanges under the symbol NUMI. 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.

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).