Today, psychedelic companies are all the rage. Compass Pathways works with the magic mushroom compound psilocybin to treat depression. Raised a total of $ 290 million. With the support of PayPal co-founder Peter Thiel, Atai Life Sciences brought $ 258 million from the IPO. In the technical arena, this has not been overlooked and the same business model used by other platforms for health and wellness start-ups is emerging in psychedelics.
The latest is Journey clinicalBased in Newyork, which raised a $ 3 million seed round led by San Francisco venture capital 50 years.. Also attended were Neo Kuma Ventures, Palo Santo, PsyMed Ventures, Lionheart Ventures, Andela co-founder Christina Sass, Nurx MD co-founder Edvard Engesæth, and Nurx co-founder Hans Gangeskar.
Journey joins other startups in the area considering psychedelic-assisted psychotherapy, where ketamine is used to treat depression, anxiety, PTSD, and trauma known as ketamine-assisted psychotherapy (KAP). increase. Miami-based startup NUE Life Health Raised A $ 3.3 million seed round took place in June for the same purpose. The space also plays field trips and mind blooms.
These start-ups are pushing open doors for depression and anxiety. Prior to COVID-19, the National Center for Health Statistics estimated that approximately 50 million Americans were fighting pain. Of course, the pandemic exacerbates this problem, and some estimates have doubled these numbers.
It’s still an early market. Journeys have a very different market environment for legitimate psychedelic therapies, with more than one million qualified mental health professionals having no access to prescribing clinicians, the infrastructure to provide these treatments. It lacks structure. On the contrary, patients have a hard time finding a psychotherapist who can prescribe psychedelics as a treatment.
Journey says it has a “distributed clinic model” that allows psychotherapists to start with ketamine and provide legal psychedelic therapy treatments in their practice. The way it works is for Journey to be responsible for the pharmacological aspects and the platform-signed psychotherapist to be responsible for the patient’s psychotherapy. The treatment plan is then customized to the patient’s needs.
Co-founder and CEO Jonathan Sabbagh, previously diagnosed with PTSD, returned to school to study clinical psychology after discovering psychedelics and co-founded Journey. He states: “We are on the verge of a paradigm shift in the field of mental health. Psychedelic-assisted psychotherapy is one of the most promising new therapies available. They are faced by clinicians. It will enable us to tackle the growing global mental health crisis. “
He told TechCrunch, he added: “When the therapists asked what were the main bottlenecks in providing KAP to patients, the number one answer was access to prescribing physicians. Our alpha test group provided trained medical teams. We have confirmed that by ensuring access and building a robust care management system, we can solve the essential bottleneck of mainstream adoption of KAP. “
The journey has two sources of income. Psychotherapists pay a monthly membership fee of $ 200. This gives you access to a variety of services such as prescribers, EHR (achieved through white labels), KAP training (training materials created by professional training companies), profiles and more. Journey directories and fellow communities. Patients pay travel expenses for medical services. They pay $ 250 for intake counseling and $ 150 for follow-up counseling.
Ela Madej, founding partner of Fifty Years, said: We are fortunate to have a strong psychedelic treatment in our minds, but we must carry out appropriate screening, protocols, and follow-up and provide it responsibly. We were very impressed with Journey Clinical’s ambitious plan to help psychotherapists treat existing patients better. “
The team includes Kyle Lapidus MD, Ph.D., who has over 20 years of experience as a board-certified psychiatrist and has extensive experience using ketamine. Is also included. Bridget Gordon DNP is a professor at Columbia University and also works for the Interdisciplinary Association for Psychedelic Studies (MAPS).
Journey Clinical raises $3M to allow psychotherapists to prescribe psychedelics – TechCrunch Source link Journey Clinical raises $3M to allow psychotherapists to prescribe psychedelics – TechCrunch