Field trip news
March 17, 2021
Field Trip Health Ltd., a psychedelics company experimenting with ketamine in the treatment of depression, has raised $95-million from a bevy of biotech and health care-focused hedge funds – the largest round of financing of such a business in Canada to date.
The Toronto-based company has seen its shares rise more than 120 per cent since it went public through a reverse takeover on the Canadian Securities Exchange last October. This dramatic run-up has been fuelled in part by general market frothiness, but also by the decriminalization of magic mushrooms across a number of U.S. states in November, which was seen by investors as a major turning point for the psychedelics industry.
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