Field Trip Health, Another Psychedelic Therapy Company, Goes Public

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Field Trip, which runs ketamine infusion clinics in Canada and the U.S., is developing a novel psychedelic molecule in hopes to make a brand-new pharmaceutical drug.

for suicidal ideation and treatment-resistant depression last year, but Field Trip sells intramuscular ketamine injections in the U.S., which produces a more intense psychedelic experience.

The third strategy Field Trip is pursuing is psilocybin cultivation. It partnered with the University of the West Indies in Mona, Jamaica, where psilocybin is legal, to build a magic mushroom research and cultivation facility. Field Trip was founded by Levy, Joseph del Moral, Hannan Fleiman, Ryan Yermus and Mujeeb Jafferi in April 2019. All of the cofounders except for Jafferi worked together previously in Canada’s cannabis industry, where they cofounded medical marijuana companies Canadian Cannabis Clinics and CanvasRx, the later of which was acquired by Aurora Cannabis for $37 million in 2016.

Nearly 30% of people with major depression don’t respond to current medications, says Weinand. A drug that could help this patient population could be “quite significant,” he says.

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