- The distribution component unlocks a new revenue source for the company, helping drive future growth
- MINDCURE’s platform was built as a digital tool and distribution platform, and has already been used for deployment and distribution of ketamine for depression and pain
- Digital therapeutics market is projected to reach USD $13.1 billion by 2026 from USD $3.4 billion in 2021 at a CAGR of 31.4 %, a substantial increase primarily driven by the COVID-19 pandemic and the stressors associated with it
- MINDCURE’s target areas and value proposition list numerous benefits for therapists, patients, payers, and drug and protocol developers, through the proprietary technology and platform.
A recent non-binding Letter of Intent (“LOI”) was signed between Mind Cure Health Inc. (CSE: MCUR) (OTCQX: MCURF) (FRA: 6MH), a leader in advanced proprietary technology and research for psychedelics, and Awakn Life Sciences (NEO: AWKN) (OTCQB: AWKNF), a biotech company with clinical operations researching, developing, and delivering psychedelic medicine to treat addiction. Under the LOI, MINDCURE becomes a distributor of Awakn’s ketamine-assisted psychotherapy for Alcohol Use Disorder in the United States and Canada, through its proprietary digital therapeutics platform, iSTRYM.
This is MINDCURE’s first international partnership with industry leaders developing rigorous psychedelics protocols and drugs that can be distributed through the company’s platform to support both therapists and patients. As well as distributing its partners’ protocols, the company will also be distributing its own protocols through iSTRYM.
With the minimum viable product (“MVP”) version of iSTRYM already released into partner clinics across North America, the company expects to partner with 75 clinics in both Canada and the U.S. when beginning full commercia deployment in early 2022, and to double that number by Q4 2022. The distribution component of iSTRYM opens up a new source of revenue for the company, which will help fuel further growth and expansion strategies.
MINDCURE’s digital therapeutics (“DTx”) platform was built to be scaled at a global level as a drug-agnostic digital tool and distribution platform. The company’s own protocols of ketamine for depression and ketamine for pain have already been created, with ketamine for an undisclosed indication currently in development.
With additional revenue to drive growth goals, the company expects to be able to leverage multiple emerging opportunities on the fast-growing digital therapeutics market. Globally, the digital therapeutics market is projected to reach USD $13.1 billion by 2026 from USD $3.4 billion in 2021, at a CAGR of 31.4% (https://ibn.fm/ARbYX).
DTx is a subdivision of digital health, but not all digital health solutions are DTx. According to the Digital Therapeutics Alliance, DTx deliver evidence-based therapeutic interventions that are driven by high quality software programs to prevent, manage, or treat a medical disorder or disease. They are used independently or in concert with medications, devices, or other therapies, to optimize patient care and health outcomes. The rise in DTx can be attributed to the mass use of smart devices by consumers. Another element that has driven the demand for digital therapies has been the COVID-19 pandemic, with its associated stressors and increase in mental health conditions.
A variety of segments stand to benefit from DTx and MINDCURE’s proprietary platform – therapists, patients, payers, and drug and protocol developers. Each segment has its own value proposition, according to the company:
- Therapist Value Proposition:
- Cost reduction
- More favorable outcomes
- An increased portfolio of protocols that can expand guidance on practice and payer code guidance
- Patient Value Proposition
- Improved compliance
- Outcomes are optimized
- Proofing of the safety and efficacy
- Payer Value Proposition
- Access to cumulative data on the patient outcomes and compliance
- Drug and Protocol Developer Value Proposition
- A partner for distribution and sales
- Provide line-of-sight to compliance; de-risk new protocol deployment
For more information, visit the company’s website at www.MindCure.com.
NOTE TO INVESTORS: The latest news and updates relating to MCURF are available in the company’s newsroom at http://ibn.fm/MCURF
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