Mind Cure Adds Two-Time Female Entrepreneur of The Year As New COO

Mind Cure Health (CAN:MCUR) has been putting a smile on the faces of shareholders since its successful IPO debut on September 21, 2020.

MCUR stock has taken off. Mind Cure quadrupled off its initial trading price of CAD$0.20, currently sitting at CAD$0.78. It has outperformed industry leader, Compass Pathways (US:CMPS) by 2:1 since CMPS’s own IPO.

Today, Mind Cure is building on this strong performance by adding Canada’s two-time Top Female Entrepreneur, Kelsey Ramsden, as its new COO.

A serial entrepreneur who has launched several start-ups, Ramsden has attracted plenty of attention in the corporate world, as illustrated by this 2014 article in Forces.
 

What has attracted Ramsden to this psychedelics startup? Why have investors been pouring their dollars into MCUR?

A business model designed to put investors first.

Mind Cure is a functional mushrooms/psychedelic drug hybrid. Specifically, it is launching its functional mushrooms division ahead of commencing psychedelic drug research and product development.

The psychedelic drug industry will be an opportunity for years to come. Thanks to ~50 years of drug Prohibition, it will take decades to explore the medicinal applications of these substances.

But drug development isn’t fast and it isn’t cheap. Going through the formal clinical trials process can take many years, with costs potentially ranging into the $100s of millions.

How is a life sciences startup going to make it to the end of that long road – without diluting away investor returns?

Launch a revenue-generating division to offset research costs and lower the burn rate of capital. In this case, functional mushrooms.

Psychedelic Stock Watch has previously explained the strategy behind a functional mushrooms/psychedelic drug hybrid business model.
 

Functional mushrooms represent a rapidly-growing $23 billion market, according to Mordor Intelligence. And there are strong synergies with psychedelic drug development.

Psychedelic drugs are being developed to address (primarily) mental health conditions. This includes stress-related disorders like depression, anxiety, addiction and PTSD. It also includes cognitive impairment, specifically degenerative conditions like Alzheimer’s disease.

Clinical trials are generating spectacular treatment results.
 

Mental health services is a $225 billion treatment market in the United States alone. And functional mushrooms also have an important role to play here.

These potent nootropics are being touted as providing numerous health benefits, including mental health. Reishi mushrooms have adaptogenic properties that experts claim can relieve stress – and help to prevent stress-related mental health issues.

Lion’s Mane mushrooms have shown (in pre-clinical trials) that they can not only halt but even reverse the neural damage that leads to degenerative conditions like Alzheimer’s disease.

What does Ramsden bring to the table to advance Mind Cure’s business strategy? She tipped off investors in the announcement of her appointment.
 

Ramsden has broad connections.

In addition to her business endeavors, Kelsey Ramsden serves on the Entrepreneurship Council at the University of Western Ontario. An MBA graduate, she is an accomplished public speaker and has even penned a best-selling book.

Psychedelic drugs and functional mushrooms represent rapidly-evolving industries, targeting numerous multi-billion-dollar markets.

Mind Cure Health has added a dynamic corporate performer to help the Company focus on these many moving targets.

DISCLOSURE: Mind Cure Health is a client of Psychedelic Stock Watch.