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.
Learn more at https://www.meetfieldtrip.com,
https://www.fieldtriphealth.com and
https://www.fieldtriphealth.nl.
Follow us on Twitter and Instagram:
@fieldtriphealth
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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.
Media contacts:Autumn
Communications202-276-7881press@fieldtriphealth.com
Investor contacts:Kathleen
Heaney / Tim ReganKCSA Strategic
CommunicationsfieldtripIR@kcsa.com
SOURCE Field Trip Health Ltd.
Field Trip Health (NASDAQ:FTRP)
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