INN spoke with the leadership team at Numinus Wellness about the company’s growth and its efforts in the psychedelics space.
Investors should know that there isn’t a quick pathway to build out the psychedelics market, one CEO in the industry told the Investing News Network (INN).
“To be able to build something robust that’s solid and is able to make change, it has to take time,” Payton Nyquvest, chairman and CEO of Numinus Wellness (TSXV:NUMI), said alongside Stacey Wallin, chief strategy officer at the company. “There’s no quick pathway to be able to do this.”
Nyquvest and Wallin, co-founders of the psychedelics and cannabis company, spoke to INN about company’s pathway and the time this new industry will require to reach its potential.
In June, the firm created a scientific advisory board designed to help shape various elements of the company. Chaired by Dr. Evan Wood, Numinus chief medical officer, this group has been tasked with exploring the potential of psychedelic medicines.
“The council will work with company leadership to drive Numinus forward and engage policy makers and legislators to create the conditions where psychedelic therapies can be considered and advanced,” said Dr. Wood in a press release at the time.
Earlier this year, Numinus obtained a critical license from Health Canada granting it the option to research psilocybin extracted from mushrooms. The firm plans to develop a proprietary extraction method that it hopes will be used in collaboration with leading researchers.
Wallin told INN Numinus has focused on the delivery method for what a potential successful psychotherapy model will be.
Check out the video above to hear the full talk with Nyquvest and Wallin, and click here if you’d like to get familiar with listed psychedelics companies.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Numinus Wellness is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.