This Expansion of Field Trip Services Will Help The Company Become a Leading Center For Psychedelic Clinical Trials
TORONTO, Dec. 14, 2021 (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 the launch of its Site Management Organization Services (“SMO Services”). The SMO Services will enable companies and researchers developing psychedelic therapies to use Field Trip’s world class facilities, and expertly trained medical and therapy teams, to conduct clinical trials. The SMO Services will be led by Stéphan Côté, who has joined Field Trip as Head of Quality.
“There are presently over one hundred psychedelic clinical trials in planning or underway, and many more likely, as research into psychedelic therapies continues to accelerate. By adding the SMO Services, we are unlocking additional revenue drivers from our Field Trip Health centers, and playing another key part in the future of the psychedelics industry,” said Joseph del Moral, Field Trip’s Co-Founder and CEO. “Set and setting play an integral role in the positive outcomes that have been demonstrated with psychedelic-assisted psychotherapy. By opening up our locations for clinical research, we are enabling other researchers and organizations to leverage our world class settings and highly trained staff.”
Field Trip currently has locations operating in seven major U.S. cities, making it one of the largest providers of psychedelic-assisted therapies in North America. Since its founding, Field Trip’s focus on pairing set and setting with psychotherapy in connection with its ketamine-assisted therapy offerings has generated improvements for many of its patients as measured by depression and anxiety scales, often superior to the results generated from ketamine IV infusions centers.
Côté, who joins Field Trip as the Head of Quality, brings more than 25 years of experience in the area of Quality and Regulatory Compliance. Prior to joining Field Trip, Côté was Director of Quality Assurance at Impel NeuroPharma where he led and supported the development and optimization of Impel’s quality systems and the buildup of the commercial quality and compliance systems which enabled Impel’s first product launch. Previously, Côté spent 19 years working in a number of Quality Assurance roles with Amgen.
In his role with Field Trip, Côté will focus on development and refinement of the Field Trip’s quality systems to strategically align with rapid advancement of the Field Trip’s drug development pipeline and the creation of a clinical research network and the SMO Services.
“I’m thrilled to join Field Trip at such a pivotal moment in the company's journey,” said Stéphan Côté, Field Trip’s Head of Quality. “I look forward to building Field Trip into a leading network of clinical research sites and the partner of choice for researchers, CROs and sponsors in the fields of psychedelic-assisted psychotherapy and other mental health therapies. We hope to provide the highest quality of services with a patient-first philosophy. Patient rights, safety, and wellbeing are, and will always be, our first priority. I believe these research services will align with Field Trip's mission to help bring solutions to this seemingly insurmountable global mental health crisis."
About Field Trip Health Ltd.
Field Trip is the 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 including psilocybin-producing fungi 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 from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world.
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 Site Management Organization (SMO) Services business , the timing and results of SMO activities, if any, the opening of additional clinics that can be used as SMO locations, 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.
