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With the Opening of Three New Clinics, Field Trip Health Builds Momentum for the Psychedelic Renaissance in the Mental Health Field
TORONTO, Oct. 19, 2021 (GLOBE NEWSWIRE) -- Field Trip Health Ltd. (NASDAQ: FTRP, TSX: FTRP) ("Field Trip"), a global leader in the development and delivery of psychedelic therapies, announced today the opening of their Seattle clinic, their sixth in the United States, along with the recent opening of a location in Fredericton, NB, and the imminent opening of a location in Vancouver, BC. As the largest provider of psychedelic-assisted therapies globally, Field Trip continues to distinguish itself as a leader in the emerging psychedelic industry with continued expansion and growing demand.
Mental health continues to be a national health crisis as rates of anxiety, depression and PTSD keep climbing. Since opening its first location in March 2020, Field Trip’s ketamine-assisted therapy (KAP) protocols have generated rapid and meaningful improvements for many Field Trip clients as measured by depression and anxiety scales. Based on the data collected to date, Field Trip clients have reported that their depression symptoms improved significantly from “severe” to “mild” on average (with the Mean PHQ9 score of respondents decreasing from 17 to 6), and among respondents such benefits were sustained for 120 days or longer from commencement of treatment. These results suggest that the benefits of Field Trip’s KAP program may compare favorably to ketamine infusions. Each Field Trip Health center is designed to provide an oasis-like setting with elements of nature to give Field Trip clients a space for healing, growth and transformation through psychedelic therapies. The entire experience is supported by Field Trip’s digital technology and tools that guide people through the process from before treatment is approved until after their treatment program is complete, and beyond.
Dr. Ryan Yermus, Field Trip Health’s Chief Clinical Officer, commented: “Since our first clinic opening in Toronto, we have demonstrated the transformative power of our psychedelic-assisted therapy protocols for people struggling with their mental health. As we continue to grow into new markets, the potential to positively change people’s lives is endless. We are incredibly excited to deliver best-in-class psychedelic therapies to the communities in Seattle, Vancouver and Fredericton.”
Hannan Fleiman, Field Trip’s President, added: “Every center opening lays the groundwork for the development of new psychedelic therapies. Not only are we healing the community with the delivery of psychedelic medicine to patients, but we are also ensuring the evolution of the psychedelic reawakening that is happening in the field of mental health.”
The address for the Seattle clinic is 1200 Westlake Ave N Suite 600, Seattle, WA 98109 and people interested in KAP in Seattle can get in touch by phone (1-888-519-6016) or email (email@example.com). The address for the Fredericton clinic is 2398 Lincoln Rd Suite 3, Lincoln, NB E3B 7E6 and people interested in KAP in Fredericton can get in touch by phone (1-833-222-0084) or by email (firstname.lastname@example.org).
About Field Trip Health Ltd.
Field Trip is the global leader in the development and delivery of psychedelic therapies. With our Field Trip Discovery division leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics including psilocybin-producing fungi and our Field Trip Health division building centers for psychedelic therapies opening across North America and Europe along with the digital and technological tools that will enable massive scale, we help people from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world.
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For further information, contact Ronan Levy, Executive Chairman and a Director at Field Trip, at 1 (833) 833-1967.
Cautionary Note Regarding Forward-Looking Information.
This release includes forward-looking information (within the meaning of Canadian securities laws and within the meaning of the United States Private Securities Litigation Reform Act of 1995) regarding Field Trip and its business. Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of Field Trip, and are based on assumptions and subject to risks and uncertainties. Although the management of Field Trip believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including patient uptake for ketamine assisted psychotherapy in existing and new clinic locations, interest in the ketamine assisted psychotherapy training program, interest in the KAP Co-Op Program, uptake of the KAP Co-Op Program by therapists and patients, the timing and results of its research and development programs, approval of phase 1 human trials, if any, the risk that future clinical studies may not proceed as expected or may produce unfavorable results, the opening of additional clinics, the COVID-19 epidemic, the medical clinic industry, market conditions, economic factors, management's ability to manage and to operate the business and the equity markets generally. Although Field Trip has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Field Trip does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.
Neither the Toronto Stock Exchange, nor its Regulation Services Provider, have approved the contents of this release or accept responsibility for the adequacy or accuracy of this release.
Nick Opich / McKenna Miller
KCSA Strategic Communications
212-896-1206 / 347-487-619
KCSA Strategic Communications
SOURCE Field Trip Health Ltd.