Building the DoorDash or UberEats of Psychedelics
The psychedelics industry is rapidly growing, with more than 50 publicly traded companies worth billions of dollars. At the same time, the FDA’s approval of Spravato (esketamine) for treatment-resistant depression and the growing body of clinical evidence could provide further tailwinds for the industry over the coming decade and beyond.
Unfortunately, many patients live in areas that don’t have access to psychedelic treatments, like ketamine. And, it’s unrealistic to expect those already suffering from severe mental health conditions to schedule and drive long distances to keep appointments at the few clinics that offer highly effective ketamine therapies in the first place.
Ehave’s (OTC: EHVVF) KetaDASH subsidiary addresses these challenges with a DoorDash or UberEats-style business model. Using a mobile app, patients can instantly connect with highly skilled nurses and get ketamine therapy at their home, office, or hotel. And, the service is already available in over 50 major U.S. cities and Canada.
A Broad Client Base
Ketamine is available for use off-label to treat many medical conditions. Growing research and anecdotal evidence suggest that ketamine could help treat major depressive disorder, bipolar disorder, and post-traumatic stress disorder, translating into a massive patient population underserved by conventional behavioral and pharmaceutical therapies.
In addition to at-home service, KetaDASH provides an intelligent dashboard to measure and report on the efficacy of ketamine treatments. That way, patients and nurses can get a sense of what dosages and patterns are appropriate to manage mental health symptoms without resorting to the guesswork that many ketamine clinics use.
In a recent interview, Ben Kalplan, Ehave President & CEO describes KetaDASH and the company’s wider mission:
In October, the company announced that it hired KGK Science Inc., a contract research organization (CRO), to develop a protocol and informed consent form to support its institutional review board application for a ketamine clinical trial. The company aims to collect certain data points to understand how ketamine influences the brain’s neuroplasticity.
Ehave also plans to expand to accommodate other psychedelic treatments as regulators approve them. In a growing number of clinical trials, psilocybin, MDMA, and other psychedelic substances have shown tremendous promise in treating anxiety, depression, PTSD, and numerous other debilitating mental health conditions.
Building a Leading EHR
Ehave’s overarching goal is to build an evidence-based platform where clinicians and researchers can manage data. Leveraging the blockchain, the company’s cloud-based dashboard seamlessly integrates electronic health records (EHRs) from multiple sources to provide novel insights while lowering administrative costs by up to 90%.
Unlike many tech startups, the company’s dashboard isn’t an untested proof-of-concept—it’s the culmination of years of development alongside one of Canada’s largest hospitals. With HIPAA and GDPR compliance built-in, the platform is ready to expand into the North American hospital market, leveraging KetaDASH as early adopters.
The company intends to build out further with the proposed acquisition of Moksha Digital, a provider of medical imaging software and the creator of the FDA-cleared CuriePACS and CurieRIS solutions for radiological imaging. These solutions aim to bridge the gap between radiologists and referring physicians, addressing a significant unmet need.
Ehave Inc. (OTC: EHVVF) represents a compelling opportunity in the psychedelics space. With its KetaDASH subsidiary, the company is generating early revenue and establishing itself as a leader in providing at-home ketamine IV therapies. Meanwhile, its EHR dashboard provides ample longterm opportunities in the wider medical market.
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