- Public and private psychedelics companies with clinic operations are currently putting a high priority in finding a digital therapeutics platform to (a) increase treatment efficiencies and (b) rapidly scale up commercialization
- MINDCURE’s iSTRYM platform is the first mover here – and turning heads across the psychedelic drug industry
For serious investors, one part of “investing” is playing detective. Keeping their nose to the ground, looking to sniff-out the latest trends in the sector(s) in which they are focused.
Those serious investors in psychedelic stocks will want to take a closer look at Mind Cure Health (CAN:MCUR / US:MCURF) and its new-and-proprietary iSTRYM digital therapeutics platform.
iSTRYM is trending. More on this shortly.
Digital therapeutics is moving healthcare into the 21st century
For investors who haven’t been following the development of IP technology in the psychedelics industry, digital therapeutics is emerging as an integral component of mental health treatment, and healthcare in general.
Digital therapeutics platforms add enormous efficiency in delivering healthcare services, but companies are also discovering these platforms are invaluable tools for rapidly scaling-up treatment models – in a cost-effective manner.
Next-generation platforms are taking this healthcare tool to the next level: integrating AI into these software platforms. Through AI, digital therapeutics can also greatly enhance the treatment model itself. Monitoring medication and treatment regimens, and even providing real-time assessments of routine data.
Therapists are freed up from many of the administrative functions that previously consumed much of the day. This allows practitioners to treat more patients and/or elevate the standard of care.
Consequently, most of the public companies with a clinics component either have already put in place their own platform, or are in the process of doing so. One of these public companies is Awaken Life Sciences (CAN:AWKN / US:AWKNF).
In what has been a tough year for psychedelic stocks to date, AWKN is up nearly 40% in 2021. The market likes Awaken Life Sciences. And what does Awaken like? iSTRYM.
iSTRYM: first and best in digital therapeutics
At the recent Wonderland psychedelics conference in Miami, Awaken’s CEO, Anthony Tennyson was interviewed along side MINDCURE’s President and CEO, Kelsey Ramsden. A central part of that interview was Tennyson explaining how iSTRYM was going to greatly facilitate the rapid scale-up and commercialization of its clinical treatment model.
The Wonderland conference was hosted by MicroDose, a leading investment platform in showcasing public and private companies and educating investors on the psychedelics industry. As part of Wonderland, Microdose held its first annual psychedelics awards.
Nominated for “B2B tech company of the year” in the psychedelics industry was Mind Cure Health, and its iSTRYM platform.
However, the buzz about iSTRYM extends well beyond the Wonderland investor conference. MAXIM Group just put out new coverage of MINDCURE (with a price target of USD$1 / CAD$1.25). MAXIM sees the potential of iSTRYM to be “a best in class tool for psychedelic medicine.”
In turn, all this industry buzz around iSTRYM is also attracting interest from other business writers covering the psychedelics space. One site has put out a flurry of recent coverage on MINDCURE, and iSTRYM features prominently in framing the MCUR value proposition.
Psychedelic Stock Watch has been ahead of the curve in identifying the potential of digital therapeutics, in general, and the exciting commercial potential of iSTRYM, in particular. Back in April, we published:
Digital Therapeutics: Optimizing Psychedelics Therapies With Next-Generation IP
… More recently, the company has taken iSTYRM to the next level. On April 13, 2020, MINDCURE announced a partnership with Speak AI. The goal: enhancing iSTRYM with AI in order to maximize the benefits of its digital therapeutics platform.
MINDCURE’s CEO, Kelsey Ramsden, connected the dots for investors.
“We will be building custom integrations with Speak Ai for the iSTRYM platform that allow us to marry sentiment with biometric data, location, weather, and a variety of other variables to help optimize our integration protocols and provide individuals with quantified care at scale globally, all with the stated goal of advancing Mental Wealth, rooted in data.”
Investors won’t have to wait for MCUR to start benefitting from the AI-improved iSTRYM platform. Just prior to that news release (on April 8, 2021), MINDCURE announced that iSTRYM would be deployed in Canada’s first psychedelics-based treatment center – ATMA Journey Centers.
… More recently, the company has taken iSTYRM to the next level. On April 13, 2020, MINDCURE announced a partnership with Speak AI. The goal: enhancing iSTRYM with AI in order to maximize the benefits of its digital therapeutics platform.
MINDCURE’s CEO, Kelsey Ramsden, connected the dots for investors.
“We will be building custom integrations with Speak Ai for the iSTRYM platform that allow us to marry sentiment with biometric data, location, weather, and a variety of other variables to help optimize our integration protocols and provide individuals with quantified care at scale globally, all with the stated goal of advancing Mental Wealth, rooted in data.”
Investors won’t have to wait for MCUR to start benefitting from the AI-improved iSTRYM platform. Just prior to that news release (on April 8, 2021), MINDCURE announced that iSTRYM would be deployed in Canada’s first psychedelics-based treatment center – ATMA Journey Centers.
More recently, MINDCURE added to the iSTRYM buzz with another news release of its own.
A November 4th update reported that the Company has exceeded its Q4 2021 goal for clinic partners for iSTRYM, with a total of 20 clinic partners now lined up for iSTRYM. It was only on August 26th that MINDCURE announced that the minimum viable product (MVP) version of iSTRYM was ready for release.
Equally important, with 20 clinic partnerships already in place, this puts MINDCURE on target to achieve its next distribution goal for iSTRYM: 150 partner clinics for iSTRYM by the end of 2022.
With CAD$15.6 million in cash and equivalents as of August 31, 2021, MINDCURE is abundantly capitalized to not only fully roll out iSTRYM, but to also execute on other high-priority initiatives: MINDCURE’s ibogaine synthesis, manufacturing and drug development, as well as the Company’s newest R&D initiative, Project Desire.
Psychedelic medicine is the future of mental health care, iSTRYM can be a major driver of growth
Psychedelic medicine remains the best-and-only option to address a Mental Health Crisis that is rapidly spiraling out of control – due to the failure of conventional therapies to provide even adequate treatment options.
This means the potential to scale up psychedelics-assisted therapies is practically infinite, a commercialization dream. iSTRYM is a next-generation, hi-tech tool to turbocharge the growth of psychedelic medicine.
No wonder the buzz around iSTRYM is growing.
For investors interested in learning more about iSTRYM and MINDCURE itself, stay tuned. Psychedelic Stock Watch will be releasing a full-length feature looking back on the development of iSTRYM – and looking ahead to its future commercial potential.
DISCLOSURE: The writer holds shares in Mind Cure Health. Mind Cure Health is a client of Psychedelic Stock Watch.