Vancouver, British Columbia–(Newsfile Corp. – January 4, 2021) – Entheon Biomedical Corp. (CSE: ENBI) (FSE: 1XU1) (“Entheon” or the “Company”), a biotechnology company focused on developing psychedelic medicines to treat addiction, is announcing a business arrangement with, and a strategic investment in, Heading Health, LLC (“Heading Health”), a psychiatric clinic platform focused on the administration of psychedelic-assisted therapy to treat mental health disorders.
Entheon has participated in a Series A Preferred Stock Financing, investing $200,000 USD for a 5% stake in Heading Health. Under the terms of the investment, Entheon has the option to increase its overall holdings to up to 10% of Heading Health in the subsequent round of financing.
This investment into Heading Health provides Entheon with exposure to the ketamine-assisted therapy space, including Spravato, an FDA approved Ketamine product that is eligible for insurance reimbursement. This business arrangement allows access to data pertaining to ketamine therapy and the patient experience. This data will be used for research purposes to better inform the development of Entheon’s own psychedelic therapy experience. Heading Health will provide guidance regarding clinical practice and the use of biomarker capture devices both in general psychiatric practice and Ketamine treatments. The specific parameters of the arrangement have been outlined in a Letter of Intent and are subject to the execution of a Definitive Agreement by both parties.