CHICAGO, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Palo Santo, a U.S.-based psychedelic investment fund, announced its recent investment in neurocare Group AG (“neurocare”), a leading provider of specialized and integrated mental healthcare through its Digital Therapy (“DTP”) Platform.
neurocare’s advanced platform integrates online and digital tools and technologies, psychedelic treatments, training, science and services to improve patient outcomes, processes, and is anchored in systems thinking and convergence as value and quality drivers. To date, neurocare’s 18 clinics across three countries, along with its DTP’s results from approximately 1,500 patients, have demonstrated consistent results, improved self-regulation and best-in-class and sustainable clinical outcomes of 65%+ response and 55%+ remission. Palo Santo’s investment comes on the heels of neurocare’s planned expansion into offering psychedelic-based therapies as part of its clinical suite.
“With more than 800 million suffering from mental health issues, traditional solutions ineffective and often inaccessible and collateral from the COVID-19 pandemic creating additional burdens, neurocare has demonstrated a best-in-class, consistent, sustainable approach to taking on the task of alleviating this crisis,” said Tim Schlidt, cofounder and partner of Palo Santo. “The company’s clinical suite and DTP platform have shown remarkable effectiveness, and we maintain confidence that an expansion into psychedelic therapies will only further enhance these outcomes. Palo Santo is thrilled to be investing alongside Apeiron, re.Mind, and bm-t and looks forward to partnering with neurocare to guide the company on this expansion into the innovative field of psychedelic therapies.”
neurocare Founder and CEO Thomas Mechtersheimer said, “Palo Santo has been a trusted partner, and thanks to their investment, we will strengthen neurocare’s leading DTP platform and geographical reach. We look forward to working closely with Palo Santo’s investment team as we look to redefine the future of mental healthcare with personalized solutions for ADHD, insomnia, depression, OCD and a variety of other mental illnesses as well as mental performance.”
About Palo Santo
Palo Santo is a U.S.-based psychedelic investment fund focused on increasing the supply of clinically effective and accessible mental health and addiction treatment solutions needed in today’s world. The firm targets a diverse range of companies offering innovative solutions across biopharma, drug development, digital therapeutics, healthcare services, and tech-enabled solutions to address the growing global mental health crisis. To date, Palo Santo has partnered with and funded more than 20-plus portfolio companies with notable investments such as atai Life Sciences, neurocare, Reset Pharma, Tactogen, Eleusis, Beckley Psytech, Delix, Bexson Biomedical, Ksana Health, Bright Minds, Psy Therapeutics, and Gilgamesh, among others. For more information, visit https://palosanto.vc/ or https://twitter.com/PaloSantoFund.
About neurocare
neurocare is innovating mental health and performance and developed a digital therapeutics (DTP) platform to empower clinicians to deliver best practice. Following a detailed assessment, clinicians develop personalised therapy plans that lead to best evidence-based outcomes. neurocare’s objective and measurable approach is based on the brain’s natural ability to learn (neuroplasticity) adding technology to enhance that learning and the care delivery. Since this approach enables individuals to regain their self-regulation it is a sustainable solution with very few side effects and not merely symptom management. For more information, visit neurocaregroup.com.
Media Contact:
Ellen Mellody
MATTIO Communications
570-209-2947
ellen@mattio.com
