Numinus Buys Neurology Center of Toronto

CANNANNEW REPORT

Numinus Wellness Inc.  (TSXV: NUMI) (OTC: LKYSF) is buying the Neurology Centre of Toronto as of an agreement dated July 2, 2021, in a deal valued at half a million dollars. Numinus will pay $300,000 in cash and $200,000 in Numinus shares upon closing and future performance-based payments totaling up to $500,000 in Numinus shares to complete the transaction. The deal is expected to close by the end of August 2021. All of NCT’s staff – including medical doctors, nurses, physician assistants, occupational therapists, psychotherapists, physiotherapists, nutritionists, and administrative staff – are expected to remain with Numinus after the deal closes. Numinus and NCT founder Dr. Evan Lewis said they plan to expand NCT into a comprehensive clinical neurology treatment center with a unique specialization in the application of psychedelics in the field of neurology. Currently, therapies for common neurological disorders such as concussion, migraine and cluster headache, neuropathic pain syndromes, and chronic epilepsy have limitations, especially when these disorders are associated with chronic psychological challenges. The need to develop novel therapies that address both medical and psychological components of neurological diseases may be substantial and the potential impact could be significant. “Our collaboration with Numinus represents an important evolution in patient care for individuals suffering from common neurological illnesses and challenges that are often associated with chronic mental health conditions,” said Dr. Lewis, a neurologist and clinical neurophysiologist who founded NCT in 2017. “While today’s treatments help many patients, a significant number continue to suffer and, we believe, maybe helped by psychedelic-assisted psychotherapy.” Numinus said in a statement that current research shows that psychedelic medications such as psilocybin and MDMA open new pathways in the brain that can treat a host of mental health disorders in conjunction with professional therapy. “This acquisition represents an exciting opportunity for NCT and Numinus to combine medical, clinical, and academic…

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Source : Numinus Buys Neurology Center of Toronto

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