The damage done by the opioid epidemic has caused families grief and loss, but recent developments in the case against Purdue Pharma will see some restitution for the family. A potential $10 billion will be going toward fighting the opioid crisis that killed upward of 500,000 Americans in the past two decades. The Sackler family that owns Purdue Pharma will forfeit ownership of Purdue Pharma and pay $4.5 billion for the damage done by opioids like its best-selling Oxycontin. Fortunately, a new flock of companies is upending the traditional view of medicine by providing psychedelic treatments into their research and opening clinics to treat patients. Companies like Revitalist Lifestyle and Wellness Ltd. (CSE:CALM), Atai Life Sciences N.V. (NASDAQ:ATAI), Cybin (NYSE:CYBN), Seelos Therapeutics, Inc. (NASDAQ:SEEL) and Tonix Pharmaceuticals (NASDAQ:TNXP) are researching, developing, and bringing to market new treatments in order to avoid the mistakes of the past.
Revitalist Lifestyle and Wellness Ltd. (CSE:CALM) has just announced it has opened its fifth clinic in Raleigh, North Carolina. The city of Raleigh was chosen for its leading scholarly institutions and healthcare industry. With 14 treatment rooms, the clinic will have the ability to treat over 14,500 patients annually. The clinic will participate in advocacy programs working with Veterans Affairs and assisting veterans struggling with Post Traumatic Stress Disorder, Pain Syndromes, Major Depressive Disorder, and Suicidal Ideations gain greater access to care and is expected to generate approximately $7.1 million in revenue at full capacity.
Revitalist will aim to bring its unique blend of comprehensive care and future-centric treatments provided by medical professionals, mental health experts, and chronic pain specialists. As the state ranks 21st in the country for the prevalence of mental illness, Revitalist’s clinic is well-placed to serve the people of Raleigh and the surrounding communities in a more holistic and natural way.
Revitalist now has a total of five clinics since opening the first in 2018. The company operates across the United States and will continue the expansion across the US is advancing its mission of bringing new, comprehensive care solutions to patients in both mental health care and pain management.
Companies Taking a New Approach to Treatment and Avoiding the MIstakes of the Past
Seelos Therapeutics, Inc. (NASDAQ:SEEL) is a clinical-stage biopharmaceutical company developing therapies for many central nervous system disorders and rare diseases. It is also advancing its mission and announced on January 27 that it had been selected as one of the 17 companies to be included in the world’s first psychedelic Exchange Traded Fund (ETF). The fund has begun trading on the NEO exchange under the symbol PSYK. This opens the avenues for investors to gain exposure to the growing psychedelic market.
Cybin (NYSE:CYBN) is the first for the sector to list on the NYSE, and is a validation for both the company and the industry. Cybin is currently developing a pipeline of psychedelic molecules for treating mental health conditions, including a proprietary formulation of psilocybin. This formulation is currently in phase 2 clinical trials.
Atai Life Sciences (NASDAQ:ATAI) has a revolutionary digital therapeutic platform called Itrospect Digital Therapeutics. The company has announced it will begin a usability study of the app for support of standard of care ketamine therapy for patients with treatment-resistant depression. With digital health services growing in popularity and need, Atai is hoping to bring its app to more users to help treat mental illness in a more productive way without the need for addictive medications.
Clinical-stage biopharmaceutical company Tonix Pharmaceuticals (NASDAQ:TNXP) has a large pipeline of innovative and proprietary therapeutics to address the needs of patients. The company also takes an approach that focuses on less addictive treatment. The company’s portfolio includes small molecules and biologics to treat pain, neurologic, and psychiatric disorders, along with addiction disorders. The company will be a presenter at the H.C. Wainwright Global Investment Conference from September 13-15, and aims to bring investors awareness to the company through the conference.
Companies are taking a good, long look at the damage done by companies like Purdue Pharma, and developing new treatments using psychedelics to provide better care for patients. Revitalist Lifestyle and Wellness Ltd. continues to move toward that goal by opening more clinics and bringing its services to more people across the country.
If you’d like to learn more about Revitalist Lifestyle and Wellness Ltd. (CSE:CALM), click here.
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