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Field Trip Announces Plan to Split Divisions Into Separate Public Companies
Field Trip Health has announced plans to split its clinic business and research division into 2 independent, public companies.
Field Trip Health will be renamed Field Trip Health and Wellness (Field Trip H&W) and operate the company’s 12 Field Trip Health Centers, which offer psychedelic-assisted psychotherapy treatment programs, as well as a new digital, at-home ketamine-assisted psychotherapy program known as Field Trip at Home.
Field Trip H&W will be led by Ronan Levy as CEO and Mujeeb Jafferi in the role of president. The organization will also provide clinical trial and site management services, offer expanded support for the development and publication of outcome-based research on the efficacy of psychedelic-assisted psychotherapy programs, train clinicians, and continue the advancement of Field Trip’s psilocybin research in Jamaica.
“Since the opening of our first clinic in Toronto in 2020, we've been focused on developing and implementing ketamine and psilocybin-assisted therapy protocols as effective treatment options for depression, anxiety, and other mental health conditions,” Levy said in a news release. “Upon completion of the transaction, our focus will shift to scaling access so that anyone seeking treatment can safely, consciously, and responsibly access psychedelic therapies. This new focus will reduce capital requirements, maximize the impact of our existing 12 locations, support new people through the launch of Field Trip at Home, and better leverage our digital tools to reach a much larger audience.”
Meanwhile, Field Trip Discovery, the organization’s drug discovery division, will become a standalone entity known as Reunion Neuroscience. Reunion will continue with the company’s research and development of its novel molecule, FT-104, and other molecules under development. Field Trip said in its news release that it believes FT-104 has completed necessary nonclinical and preclinical steps needed to begin a Phase 1 study and has submitted documentation for an ethics review in Australia, where the Phase 1 study would be performed.
“Both Field Trip businesses have benefited from the increased understanding of the patient journey and psychedelic processes we have developed from Discovery's research and Field Trip Health's operation of the clinics,” Nathan Bryson, Field Trip chief scientific officer said in the release. “We are very excited to be poised to initiate clinical research with a unique, patented, next generation molecule only 20 months after completing the selection process.”
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