Wellbeing Digital Sciences (NEO:MEDI.AQN, OTCQB:KONEF) Inc announced that it has formed a special committee to explore advances in digital therapeutics for mental health.
The committee will be led by Najla Guthrie, the group's chief executive officer.
“We at Wellbeing are excited to form the special committee regarding digital therapeutics to learn more about opportunities that may potentially exist and be worth exploring from a commercial perspective,” Guthrie said in a statement.
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"I look forward to adding key staff members and other advisors to the special committee in the near future, so the company can be best positioned to capitalize on this growing market opportunity and ultimately help more people improve their mental health.'" she added.
Digital therapeutics is one of Wellbeing’s core strategic pillars, along with contract research and psychedelic medical treatments.
The company noted that the formation of the special committee aligns with its plans to establish next-generation mental health clinics, contemporize existing clinic facilities and launch best-in-class adjunct programs to improve patient treatment outcomes.
“Our goal has always been to enrich peoples’ lives through mental health services and I am keen to see how the special committee can discover revolutionary, comprehensive and collaborative healthcare opportunities,” added Guthrie.
The global digital therapeutics market is projected to reach US$13.1 billion by 2026 from US$3.4 billion in 2021, which equates to a compound average growth rate (CAGR) of 31.4% during the forecast period.
The relevance of digital therapeutics in mental health has increased over the years, and in the past decade, digital therapeutics products have demonstrated substantial benefits in the management of patients in the mental health realm, the company pointed out.
Digital therapeutics are delivered through smartphones, computers and tablets, making their application more convenient and private for patients.
Wellbeing Digital Sciences (NEO:MEDI.AQN, OTCQB:KONEF) is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research.
Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development.
Contact the author at jon.hopkins@proactiveinvestors.com