Core One Labs (COOL.C) signed a letter of intent today with Ketamine Infusion Centers of Texas (KICT) today to determine if the company would be an adequate fit for an acquisition, according to a press release.
KICT is a health and wellness clinic in Woodlands, Texas, originally established to work on mental health issues like treatment resistant depression using ketamine infusion treatments. KICT uses research-based data to create treatment protocols that have helped patients suffering from major depressive disorder, bipolar disorder, post-partum depression and more.
“The acquisition of KICT poses an exciting growth opportunity for Core One as we endeavour to broaden our footprint in the ‘psychedelics as alternative medicines’ market and expand our presence in medical clinics across North America. It is our first step into the leading psychedelic treatment methodology in the US which opens up a whole new market for us,” said Joel Shaker, CEO of the Company.
Core One Labs is a biotech research and technology company in the life sciences sector that’s bringing psychedelic medicines to market through the use of their delivery systems and psychedelic aided psychotherapy. The company originally developed their thin film oral strip for delivery of cannabinoids, but have since shifted their focus to delivering other types of therapy. It dissolves instantly when placed in the mouth and gives an precise organic hit of molecules straight to the bloodstream, offering superb bioavailability.
If you’re unfamiliar with ketamine, it’s a legal drug and if administered at lower doses can produce a non-ordinary state of consciousness that induces psychedelic effects and mild euphoria. When administered together with a course of psychotherapy, it’s been successful in providing relief of symptoms associated with depression, anxiety and other mental health conditions.
Core One continues their strong resurgence this month, growing by $0.03 to $1.05 today.
Full disclosure: Core One Labs is an equity.guru marketing client.