- AltMed Owns a Fully Operational Ketamine Clinic Located Near Toronto, Ontario
- AltMed’s Psychedelics Clinic is Licensed by Health Canada to Dose Eligible Patients with Psilocybin and is the Only Clinic in Canada Able to Perform Psilocybin Doses Under Health Canada Approval
Champignon Brands (CSE: SHRM) (OTC: SHRMF) (FRA: 496) announced today it has entered into a definitive agreement to acquire 100% of AltMed Capital Corp. AltMed is a preeminent Canadian Ketamine clinic operator, psychedelic medicine IP aggregator and novel drug discoverer.
Champignon Brands is a leading human optimization sciences company focused on applying novel and natural treatment protocols to address a broad range of disorders and deficiencies with an emphasis on psychedelic medicine. The AltMed acquisition will significantly expedite Champignon Brands’s advancements within the psychedelic medicine arena.
AltMed’s suite of assets will allow Champignon to accelerate its multi-pronged business strategy. The AltMed assets will also enable Champignon to reach consumers directly via rapid onset medical treatments. They expect to roll out new clinics at locations already identified across the United States and Canada by the end of this year. It is anticipated that five new clinics located in key markets such as New York, California and Florida will be fully operational by the fourth quarter of 2020.
AltMed owns 75% of the Canadian Rapid Treatment Centre of Excellence (CRTCE). The CRTCE is a fully operational Ketamine clinic located in Mississauga, Ontario, with over 18 months of operating history. The CRTCE clinic has been licensed by Health Canada to dose eligible patients with Psilocybin and is the only clinic in Canada able to perform Psilocybin doses under Health Canada approval.
Champignon’s press release further describes the CRTCE as: “The only vertically integrated rapid onset treatment centre operating from proof-of-concept to human clinical trials and publication, with study results in peer-reviewed journals by the world’s leading experts in psychopharmacology. The CRTCE also serves as a rapid onset treatment training and education center for medical professionals and is equipped with a co-located pharmacy.”
The clinic is also licensed by the College of Physicians and Surgeons Ontario (CPSO) under OHPP (Out of Hospital Premise Program) to administer Ketamine treatments for indications including but not limited to depression, bipolar disorder, post-traumatic stress disorder (PTSD) and obsessive-compulsive disorder (OCD).
As a complementary, follow-on service for individuals and families who are suffering from the effects of addiction, depression, PTSD and anxiety disorders, Champignon and AltMed plan to roll out a network of subspecialty therapeutic clinics.
The CRTCE plans to expand its clinical footprint by establishing additional new clinics for Ketamine, Psilocybin and MDMA. The CRTCE also intends to pursue partnerships with the pharmaceutical industry.
“Founded and operated by Dr. McIntyre, the CRTCE has the human capital and unmatched R&D capabilities, with respect to rapid onset treatments such as ketamine, to revolutionize the treatment of depression, PTSD and substance use disorders. Champignon and AltMed will leverage Dr. McIntyre’s expertise, alongside the CRTCE’s existing SOPs, data-driven research sets and practitioner education modules, to roll out five unique ketamine clinics across Florida, California and the U.S. Eastern Seaboard. Our additional ketamine clinics are projected to be fully operational by Q4 2020. Furthermore, having previously completed funding rounds, our acquisition of AltMed will further bolster our corporate treasury,” stated Champignon Brands CEO Gareth Birdsall.
The AltMed Team
AltMed is led by its renowned and experienced CEO Dr. Roger McIntyre. Dr. McIntyre’s long list of credentials includes the following:
- Professor of psychiatry and pharmacology at the University of Toronto.
- Head of the Mood Disorders Psychopharmacology Unit at the University Health Network, Toronto, Canada.
- Executive director of the Brain and Cognition Discovery Foundation in Toronto.
- Director, co-chair of the Scientific Advisory Board of the Depression and Bipolar Support Alliance (DBSA) in Chicago, Illinois.
- Professor and Nanshan Scholar at Guangzhou Medical University.
- Adjunct professor at the College of Medicine at Korea University.
- Clinical professor at the State University of New York (SUNY) Upstate Medical University, Syracuse, New York.
- Clinical Professor, Department of Psychiatry and Neurosciences, University of California School of Medicine, Riverside, California.
- Dr. McIntyre was named by Clarivate Analytics, one of “The World’s Most Influential Scientific Minds” each year from 2014-2019.
- Dr. McIntyre is widely regarded as the world’s most recognized psychiatrist in relation to mood disorders.
- Dr. McIntyre has extensive experience collaborating with private-sector partners, including but not limited to entities within the pharmaceutical industry, the insurance industry and the health care industry in Canada, the United States and globally.
Leading AltMed’s board of directors is Pat McCutcheon. Mr. McCutcheon is the founder and CEO of the highly successful Canadian cannabis extraction firm MediPharm Labs (TSX: LABS) (OTCQX: MEDIF) (FRA: MLZ). Mr. McCutcheon was paramount in raising considerable capital to finance MediPharm’s vision, which ultimately led to the creation of one of Canada’s top revenue-generating cannabis companies.
“Together with Champignon’s existing novel ketamine delivery platforms, associated patents/IP and now advanced clinical infrastructure, we will look to deliver approved, point-of-care psychedelic treatments in clinics throughout Canada and the United States. Ketamine, Psilocybin and MDMA have all been fast-tracked by the FDA and Health Canada with respect to R&D in DPS, and we will look to monetize our capabilities and human capital within this domain. Led by our accomplished operational team, comprised of experienced clinicians, academics and thought leaders within dynamic, blue-sky industries, we will be the global leader with regard to the application of rapid onset treatments and will continue to be a first-in-class, vertically integrated center that champions R&D, clinical research, knowledge translation, vocational rehabilitation and psychotherapeutics, offering patient populations a wholesome and comprehensive treatment ecosystem,” said AltMed director and MediPharm CEO Pat McCutcheon.
Psychedelics: Medicine, Novel Drugs & Clinical Trials
With the acquisition of AltMed, Champignon will now have three Phase I trials and three preclinical trials taking place in 2020. The company will also have seven IP patents for its Ketamine/Psilocybin delivery platforms and formulations.
AltMed has a preferred commercial relationship with InterVivo Solutions, Canada’s largest neuroscience-focused preclinical contract research organization. The two companies are collaborating to expedite Phase I testing and novel drug development of psychedelic molecules and proprietary delivery systems.
Together, Champignon and AltMed plan to advance psychedelic-derived treatments with the vision of creating the most compelling IP portfolio, clinical pipeline and drug development platform in the psychedelic medicine space via human clinical trials.
In the second half of 2020, AltMed will commence both comprehensive R&D campaigns as well as clinical trials, which will be led and administered by leading M.D.s, clinicians and researchers.
AltMed will be targeting the following indications:
- Treatment-Resistant Depression | Led by Dr. Roger McIntyre
- Addiction | Led by Dr. Peggi Shepherd DeGroote
- PTSD/Traumatic Brian Injury | Led by Dr. David Greenberg and Dr. Michel Rathbone
- Ageing/Dementia | Led by Dr. DW Molloy
- Anxiety/Obsessive-Compulsive Disorder | Led by Dr. Michael Van Amerigan
As per the terms of the deal, Champignon will acquire 100% of AltMed in exchange for 55,124,000 common shares. The acquisition is subject to the approval of AltMed shareholders.
SHRM Stock Price Action & Chart
Shares of Champignon Brands’ CSE listed SHRM stock closed today’s trading session at $0.86, down 1.15% on the day. South of the border, the company’s U.S. OTC Markets listed SHRMF stock finished the day down 2.74% at $0.59 per share. Overseas on the Frankfurt Stock Exchange, Champignon’s German listed shares traded down 2.53% to close the session at $0.54.
Since IPOing at $0.195 on March 2, 2020, SHRM has soared as much as 387.18% while reaching a high of $0.95 on April 6, 2020. SHRM is in the midst of an extremely bullish uptrend, and the stock is yet again forming another Bull Pennant. If you’re not familiar with technical analysis, read our March 25, 2020 article titled “Champignon Brands Bull Pennant Technical Breakout, Continuation of Uptrend Highly Likely” for full details on this very bullish chart formation.
On a technical level, all signs point to the likelihood of SHRM continuing its surge higher. On a fundamental level, the AltMed acquisition is a gamechanger for SHRM and, upon closing, will firmly establish Champignon Brands as the clear cut leader in the booming new psychedelics sector.
Champignon Brands is a paid client of The Cannabis Investor. The Cannabis Investor holds a position in Champignon Brands.
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