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Ketamine One establishes Medical Advisory Board

Published: 08:40 23 Aug 2021 EDT

KetamineOne Capital Limited establishes Medical Advisory Board
The company said the establishment of the Medical Advisory Board is an important step in its strategic evolution

KetamineOne Capital Limited (LSE:CAPD, FRA:C8D) announced that it has established a Medical Advisory Board to help guide the development of its mental health platform and other aspects of the company.

The board is chaired by the company’s chief medical officer, Dr Mark Kimmins, and is comprised of several other chief medical officers and specialists including Dr Ravi Bains, Dr Glen Brooks, Dr Darren Cotterell, Dr Dennis Filips, and Dr Quang Henderson.

Ketamine One (NEO:MEDI.AQN) noted that the medical advisors are thought leaders in the fields of psychiatry, psychedelics innovative mental health treatments and veteran affairs, and the company expects to add other members to the foundational board in due course, as appropriate.

“The establishment of the Medical Advisory Board is an important step in Ketamine One (NEO:MEDI.AQN)’s strategic evolution and toward its goal of becoming a leader in psychedelic-assisted mental health treatments across the continent,” interim CEO Adam Deffett said in a statement.

“We look forward to continuing to build our leadership capabilities in psychedelics, digital therapeutics and telemedicine,” he added.

WATCH: Ketamine One subsidiary KGK Science sees growth in business with multiple new contracts

As consideration for the medical advisors’ appointments, Ketamine One said it has granted then an aggregate of 50,000 stock options to purchase up to 50,000 of its common shares for $1.55 per share for five years from the date of grant, under its stock option plan that was approved by shareholders in February. Half of the options vest six months from the date of grant, with the remaining 50% vesting after 12 months.

It has also granted a consultant 100,000 options to purchase 100,000 shares at $1.40 per share, subject to the same terms.

Ketamine One is a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments. It is working to provide the critical infrastructure needed to develop and deliver breakthrough mental health treatments.

Currently, Ketamine One has a network of 16 clinics across North America, with plans to further consolidate the highly fragmented industry. The recent addition of KGK Science Inc. as the company’s contract research division also places the company at the forefront of premium clinical research based on its 23-year history and extensive experience in pharmaceuticals, cannabis, and the emerging psychedelic medicine industries.

Contact the author at stephen.gunnion@proactiveinvestors.com

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