TORONTO, May 12, 2022 (GLOBE NEWSWIRE) -- Field Trip Health Ltd. (NASDAQ: FTRP, TSX: FTRP) ("Field Trip"), a leader in the development and delivery of psychedelic-assisted psychotherapy with 12 locations across North America and Europe, and Nue Life Health (‘Nue Life’), a leader in mental wellness telehealth and at-home ketamine treatments, announced today the launch of Field Trip at Home™ Powered by Nue Life, which provides ketamine treatments from the comfort of a person’s home. Through this arrangement, Field Trip now offers increased accessibility and convenience for those interested in pursuing the powerful treatment outcomes of ketamine therapy outside of a clinic setting through Nue Life’s at-home and telehealth offerings.
Field Trip at Home™ Powered by Nue Life is an advanced wellness platform for personalized, at-home psychedelic care that has the potential to revolutionize the way people approach obtaining mental health treatment. By allowing patients to tap into Nue Life’s available ketamine treatments, interactive companion app, and virtual aftercare programs, the platform provides an alternative to in-clinic care for those seeking treatment but who are unable to travel to one of Field Trip’s existing 12 locations. The collaboration marks the coming together of two like-minded companies in the psychedelics-as-therapeutics space to create a unique mental health solution that increases access beyond in-clinic care.
“In late April we announced that Field Trip’s clinics and technology division is ready to evolve into its own independent, standalone company. As part of that spinout, our name is changing from Field Trip Health to Field Trip Health & Wellness, which is in recognition of our promise to expand access to more people who can benefit from these powerful therapies”, said Ronan Levy, Field Trip’s Executive Chairman and the proposed CEO for Field Trip Health & Wellness Ltd. “Launching Field Trip at Home™ Powered by Nue Life is the first step in delivering on that promise. We are thrilled to be working with such an established leader in at-home ketamine therapy and we are excited to leverage the power of telehealth to reach a wider patient population and meet people where they are, both physically and emotionally.”
“As a Public Benefits Corporation, Nue Life is focused on bringing these life-improving therapies to a diverse patient population. By collaborating with Field Trip, the two most recognized brands in the psychedelics-as-therapeutics space are working hand-in-hand to improve access to ketamine therapy” said Juan Pablo Cappello, co-founder and CEO of Nue Life. “We are all one community trying to reduce human suffering and elevate humanity. We all succeed when each of us succeeds in an ethical way. Field Trip is an ethical, mission-aligned company, and we are proud to collaborate with them to support healing regardless of where a patient comes from.”
Field Trip is at the forefront of the renaissance in psychedelic medicine, conducting advanced research to develop new evidence-based psychedelics treatments. Many people who complete Field Trip’s ketamine-assisted therapy programs have shown significant improvements in depression and anxiety, lasting for 120 days. Field Trip currently has locations operating in eight major U.S. cities, making it the largest provider of psychedelic-assisted therapies in North America. Nue Life has delivered over 40,000 at-home ketamine experiences to patients in New York, California, Colorado, Florida, Georgia, Massachusetts, Tennessee, Texas, and Washington. Field Trip At Home™ Powered by Nue Life will be available in all of those areas with rapid expansion to follow throughout 2022. Learn more about the collaboration at www.fieldtriphealth.com/at-home.
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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About Nue Life Health Nue Life Health Inc. (Nue Life) is a comprehensive telehealth platform that strengthens and improves mental wellness by enhancing brain function, performance, and longevity through innovative, evidence-based therapies. Launched in 2021, the company currently offers at-home ketamine treatments, virtual integration groups, and individual health coaching, easily accessible via telemedicine in California, Colorado, Florida, Washington, New York, Georgia, Massachusetts, Tennessee, and Texas. Nue Life will offer services in an additional 20 states by the end of 2022. For more information, please visit www.nue.life
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, but not limited to, statements with respect to future events or future performance, the completion and structure of the Transaction, anticipated shareholder, court and regulatory approvals, the realization of the anticipated benefits by any entity from the Transaction or from the Company's or Field Trip H&W's assets or investments, the general performance of the assets of the Company and Field Trip H&W, and the realization or results of proposed business activities as well as expansion projects relating to Field Trip at Home, Trip and Portal and the ability of Discovery to meet its estimated timelines, milestones and budget. 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. Additional information relating to Field Trip, including its annual information form, can be located on the SEDAR website at www.sedar.com and on the EDGAR section of the SEC's website at www.sec.gov.
None of the securities to be issued pursuant to the Transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issuable in the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.
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