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As the largest provider of psychedelic-assisted therapies in Canada, Field Trip is uniquely position
TORONTO, Jan. 06, 2022 (GLOBE NEWSWIRE) -- Field Trip Health Ltd. (NASDAQ: FTRP, TSX: FTRP) ("Field Trip"), a global leader in the development and delivery of psychedelic therapies, today announced that it will begin making applications for Canadians in need to access psilocybin-assisted and MDMA-assisted therapy through Health Canada’s Special Access Program (SAP).
The announcement follows amendments to the SAP announced in the Canada Gazette on January 5, 2022, which have enabled physicians in Canada to make applications to Health Canada for access to “restricted drugs”, including psilocybin and MDMA.
The SAP provides physicians treating patients with “serious or life-threatening conditions” with the ability to request access to drugs that have not yet been approved for sale in Canada when conventional therapies have failed, are unsuitable, or unavailable. Prior to the amendments, restricted drugs such as psilocybin and MDMA were not accessible through SAP.
Field Trip, which presently operates three Field Trip Health Centers in Canada (Toronto, Vancouver and Fredericton), eight in the United States and one in The Netherlands, was actively involved in providing feedback and commentary to Health Canada on the proposed revisions to the SAP during the 60-Day Public Comment Period, and was involved in having Health Canada recognize that treatment resistant depression, as well as mental health and central nervous conditions such as cluster headaches and migraines, will be considered “serious or life-threatening conditions” for purposes of the SAP.
“Since the opening of our first Field Trip Health Center in Toronto in 2020, we’ve helped people around the world experience relief from suffering and find joy, wonder and fulfilment through our psychedelic therapies,” said Hannan Fleiman, President of Field Trip. “With three locations in Canada, our team of highly experienced psychedelic therapists and physicians, many who have completed the MAPS training for MDMA-assisted therapies, along with the protocols and programs providing psilocybin-assisted therapies at our location in The Netherlands, we feel there is no organization in the world more qualified than Field Trip to help Canadians access the SAP for these life-changing therapeutics.”
Canadians interested in applying to the SAP for treatment of depression, anxiety, post-traumatic stress disorder as well as disorders affecting the central nervous systems through Field Trip are encouraged to contact the company by email at SAP@fieldtriphealth.com to begin the application process.
While Field Trip intends to make applications on behalf of certain Canadians to access psilocybin and MDMA-assisted therapies through the SAP, no assurances can be made that Health Canada will approve any such applications or that such treatments will be provided.
“It has always been a central thesis to our business model that legal access to psychedelic-assisted therapies using psilocybin and MDMA would happen much sooner than most people would have expected,” added Ronan Levy, Field Trip’s Executive Chairman. “While these amendments to the SAP do not yet achieve our hope of generalized medical access to these therapies, it is an encouraging development and we commend Health Canada for being a clear leader in this regard. The amendments to the SAP will provide hope to Canadians who have suffered with these debilitating conditions for too long.”
About Field Trip Health Ltd.
Field Trip is a 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 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 in need with a simple, evidence-based way to heal and heighten engagement with the world.
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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 commencement, uptake and success of the SAP Program, the approval, if any, timing and results of Field Trip’s activities on behalf of patients seeking to leverage the SAP Program, if any, 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.
Kathleen Heaney / Tim Regan
KCSA Strategic Communications
SOURCE Field Trip Health Ltd.