Greenbrook TMS, a Nasdaq-traded transcranial magnetic stimulation (TMS) provider for the treatment of major depressive disorder and obsessive-compulsive disorder, valued at around $ 200 million, is making a leap into the world of psychedelics.
The company’s subsidiary, TMS NeuroHealth Centers, recently announced a research and development collaboration agreement with Cybin, a publicly traded biotechnology company focused on the development of psychedelic therapies and psychedelic-assisted treatment regimens.
Under the contract, Cybin and Greenbrook will work together to establish centers of excellence in mental health across the country. These will help facilitate the R&D process for innovative therapies based on psychedelic compounds for patients with depression.
A substantial footprint to accelerate R&D
What makes this partnership so unique is Greenbrook’s imprint. The company operates 129 outpatient mental health service centers in the United States, having treated thousands of patients with MDD and other mental health disorders.
As a long-time provider of treatments for depression, Greenbrook’s leap into the psychedelic space highlights the growing appeal of these alternative treatments.
As the partnership kicks off with a center, Cybin plans to leverage this unprecedented vast network to accelerate its clinical study programs around psychedelics for the treatment of depression.
“Cybin’s partnership with Greenbrook TMS is a major milestone in the development of treatment and training protocols for our psychedelic therapies. GTMS brings a long history of managing patients with depression, an impressive team and a vast national network of depression clinics that the new psychedelic center of excellence we are creating can tap into, ”Cybin CEO Doug Drysdale said in a statement. E-mail.
And he added, “This strategic partnership (GTMS) also provides Cybin with potential access to the right patients for our clinical trials, depression treatment expertise and resources, on an unprecedented scale. “
In an interview with Lucid news, Lindsay Hoover, a leading psychedelic investor with JLS Fund, added: “Cybin’s collaboration with Greenbrook highlights the potential benefits for drug developers of close partnerships with treatment providers, particularly in the case of drugs. psychedelics, where treatment methodologies and protocols should be an integral aspect of therapeutic success.
Earlier this year, Cybin and the University of Washington launched a co-sponsored, randomized, placebo-controlled clinical trial of psychedelic-assisted psychotherapy with psilocybin for frontline clinicians suffering from Covid-related distress.