- First mover in the red-hot psychedelic medicine field
- Pioneering the use of psychedelics to treat mental health and addiction disorders
- Strong portfolio of research into psychedelics complements ongoing clinical trials
What Champignon Brands does:
Champignon Brands Inc (CSE:SHRM) (OTCMKTS:SHRMF) is quickly emerging as a leader in the burgeoning field of psychedelic medicine.
The company is pursuing the development and commercialization of rapid onset treatments capable of improving health outcomes, such as depression and post-traumatic stress disorder (PTSD), as well as substance and alcohol use disorders.
As one of the first psychedelic companies to go public, the firm’s network of ketamine clinics complements its sharp focus on research and development.
Its strategic approach establishes a differentiated platform with operating treatment clinics in the US and Canada that also facilitate research and development of a wide range of therapeutic and medical applications of psilocybin, the psychoactive ingredient in mushrooms.
Champignon plans to advance its pursuit of treatments underpinned by psychedelic substances through clinical trials and assembling a compelling IP portfolio, clinical pipeline and drug development platform in the psychedelics space.
It owns 75% of the Canadian Rapid Treatment Centre of Excellence (CRTCE), a fully operational ketamine clinic in Mississauga, Ontario and the only clinic in the country approved by Health Canada to perform psilocybin doses.
Led by CEO Dr Roger McIntyre, a widely recognized expert in the study and treatment of mood disorders, Champignon is blazing a trail in an exciting new industry.
How is it doing:
It’s been a quiet period for Champignon recently as it dealt with some regulatory issues in British Columbia in the middle of the year, but the group is fortifying its team in preparation for 2021.
A proposed rebrand was scrapped after the board of directors determined it was not in the best interest of the company to spin out its consumer packaged goods business. Instead, Champignon made headway with its product offering at the CRTCE clinic, which will be the first in Canada to offer esketamine to treat major depressive disorder. The treatment was approved by Health Canada in May 2020.
Other moves included shoring up its board with the addition of CEO McIntyre and appointing Christopher Hobbs as its interim CFO.
Inflection points:
- Rollout of five unique ketamine clinics across Florida, California and the US Eastern Seaboard
- Recruiting a new CFO, chief general counsel, and senior vice president of investor and public communications
- Expanding its board with additional outside directors to be drawn from business and science
- Redesigning its website to facilitate proper access to current information by investors and the wider public
What the boss says:
“The availability of esketamine at the CRTCE provides tremendous opportunity for adults across Canada affected by treatment-resistant depression to receive an effective, well-tolerated treatment,” Champignon Brands CEO Roger McIntyre said in a statement in August.
“Moreover, this novel treatment works relatively faster than most conventional treatments for depression. Esketamine has also been observed to help people with MDD when conventional treatments have been insufficient. This provides hope for people affected by MDD to have their symptoms improved and begin to function better again in their lives.”
Contact Angela at [email protected]
Follow her on Twitter @AHarmantas
