- MINDCURE is targeting large-and-growing markets with its psychedelic drug R&D
- This includes traumatic brain injury, an estimated $182.48 billion market (by 2027)
- Renowned expert Dr. Dan Engle to lead this research
Investors who have taken a closer look at the emerging psychedelic drug industry know there is a big opportunity here.
It starts with the Mental Health Crisis. Roughly 1 out of every 6 people on the planet suffers from stress-related disorders like depression, anxiety, addiction and PTSD.
But R&D has already rapidly advanced in some of these areas. Both Compass Pathways (US: CMPS) and Cybin Corp (CAN:CYBN / US:CLXPF) are in Phase 2 clinical trials using psilocybin-based therapies to treat depression.
With PTSD, the Multidisciplinary Association for Psychedelic Studies (MAPS) is in a Phase 3 clinical trial using MDMA-assisted therapy to treat PTSD. Mydecine Innovations Group is starting a Phase 2 clinical trial also using MDMA-assisted therapy for PTSD.
That doesn’t make these research fields “crowded”. But there is no opportunity for first-mover advantage. The first-movers are already there.
Psychedelic drug R&D is rapidly broadening into new fields
However, as Psychedelic Stock Watch recently noted, psychedelics R&D has been steadily branching out into numerous other areas of medical treatment. Many of these new research applications are only partially connected, or not connected at all to mental health.
One of the psychedelics companies that is pursuing these other treatment opportunities with its psychedelic drug development is Mind Cure Health (CAN:MCUR / US:MCURF).
MINDCURE currently has the best cash-to-market-cap ratio among public psychedelic drug companies, at little more than 2:1. This follows the Company’s recent closing of a CAD$23 million bought deal financing.
And MINDCURE has plenty of plans when it comes to deploying this capital.
In addition to launching its first mental health treatment clinic (expected for MAY 2021), MCUR has also crystallized its plans for psychedelic drug R&D.
MINDCURE’s recent short form prospectus (connected to its new financing) lays out the roadmap for investors.
These are also major (and generally underserved) treatment markets. But perhaps the R&D that will capture the attention of most investors is in traumatic brain injury (TBI). The most common form of TBI is concussion.
Traumatic brain injury: emerging drugs for an emerging treatment market
Not too many years ago, the medical profession didn’t pay that much attention to “a knock on the head”. Even in professional sports, an athlete who was “woozy” after taking a blow to the head was generally cleared to play as soon as he was once again strong on his feet.
More recently, modern medicine now takes “traumatic brain injury” (including concussions) much more seriously. We now know there are often long-term (or even permanent) consequences attached to such injuries.
Diagnosis by physicians of TBIs is now much more rigorous and proactive. But treatment options to address these short-term and long-term effects has not yet caught up to the diagnostics.
In short, TBIs represent a gigantic (and growing) medical treatment market – which is also underserved due to the lack of effective therapies.
Enter Mind Cure Health.
MINDCURE is in the early stages of such research. It is still in the “discovery and lead optimization” process: focusing on a particular molecular combination to advance its research.
To both expedite and optimize this process, MCUR recently announced “PsyCollage”. PsyCollage is a bioinformatics platform. MINDCURE’s recent release on PsyCollage clarifies this.
PsyCollage has already helped MINDCURE to identify neuropathic pain, migraines, cluster headaches, and traumatic brain injury as priority indications. The Company is currently evaluating additional use-cases and commercialization scenarios for PsyCollage.
PsyCollage is one of MCUR’s IP initiatives, led by Chief Science Officer, Dr. Ryan Hartwell. But it won’t be
Dr. Hartwell who is actually leading the TBI R&D.
MINDCURE’s traumatic brain injury research to be led by renowned international expert
Dr. Dan Engle is a well-known scientist in psychedelic medicine. A regular guest on psychedelics-oriented programs like the Joe Rogan Experience and the Tim Ferriss Show, Dr. Engle is a multidisciplinary expert.
In addition to neurology and psychiatry, Dr. Engle is a renowned expert in plant-based healing – including psychedelics. As the author of The Concussion Repair Manual, Dr. Engle is the ideal scientist to lead MINDCURE’s clinical research into psychedelics applications for TBI.
Current MCUR shareholders will already be familiar with this name. Adding Dr. Engle to MINDCURE’s Advisory Board was one of the first moves the Company made after going public in mid-September 2020.
Now Engle is poised to lead MINDCURE’s traumatic brain injury R&D. Kelsey Ramsden, MINDCURE’s President and CEO, framed the news for investors.
Yes. Similar to PTSD, traumatic brain injuries can cause major mood or personality changes that not only radically impact the life of the sufferer, but also those around that person.
It’s also a blockbuster treatment market.
The TBI treatment market is expected to grow to US$182.48 billion by 2027, according to Data Bridge Market Research. This is based on a CAGR of 4.93% from 2020 through 2027. The largest individual treatment market for psychedelic drug-based therapt.
Big market opportunity, small market cap
With its TBI research, MINDCURE does have the opportunity to be a first-mover. That’s a huge opportunity for a public company with a current market cap of only CAD$56 million.
As its cash-to-market-cap suggests, MCUR has been flying under the radar of investors in psychedelic stocks.
Industry leaders Compass Pathways and MindMed Inc (CAN:MMED / US:MMEDF) both have market caps well in excess of US$1 billion – more than 20 times as large as MCUR. But MINDCURE is actually pursuing drug development for a much larger treatment market.
As MINDCURE advances its drug development for TBI, investors will likely see this ratio shrink considerably. Opportunity knocks.
DISCLOSURE: The writer holds shares in Cybin Inc, MindMed Inc and Mind Cure Health. Mind Cure Health is a client of Psychedelic Stock Watch.
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