In a year where M&A activity is expected to ratchet-up in 2022, Numinus Wellness Inc. (OTC:NUMIF) is among the first to take action. In a transaction that checks the boxes for research expansion, growth and scale, the company has acquired Novamind Inc. (OTC:NVMDF), a psychedelic medicine provider with a network of clinics and clinical research sites. The business combination will create a sizable North American platform with operations spanning 13 wellness clinics, and segues Numinus into the lucrative U.S. market. Numinus CEO, Payton Nyquvest, sat down with TDR to explain the acquisition benefits to the broader investment community.
Apart from an obvious increase in scale—including the inheritance of four clinical research sites and a bioanalytical laboratory—the acquisition will provide a myriad of advantages to propel Numinus Wellness into a leadership position in psychedelic research. The company will inherit a phase II clinical trial investigating psilocybin for major depressive disorder sponsored by the Usona Institute, as well as Novamind’s participation in Mind Medicine’s (NASDAQ:MNMD) phase IIb randomized clinical trial investigating LSD for generalized anxiety disorder.
