Wellbeing Digital Sciences (NEO:MEDI.AQN, OTCQB:KONEF) Inc CEO Najla Guthrie told shareholders that the three key pillars of the company — its Clinical Network, Contract Research Organization and Digital Therapeutics platform — have demonstrated the scalability and versatility of the Wellbeing ecosystem.
In a letter to shareholders, Guthrie revealed that the company’s subsidiary KGK Sciences Inc has $17 million of future revenue as of end-June, which it plans to complete in the next 12 to 18 months through its research and consulting contracts.
“With $10-to-$11 million to be billed in the next 12 months,” she added. “In addition, KGK’s transition to our new London Ontario state-of-the art-research center remains on schedule, and we are delighted to host you all there during our grand opening reception slated to take place in mid-September.”
Founded in 1997, KGK is a leading North American contract research organization based in London, Ontario that provides clinical research trials on nutraceutical and emerging healthcare products.
September will also mark Guthrie’s six months as the new CEO of Wellbeing Digital, which was formerly known as KetamineOne Capital Limited (LSE:CAPD).
“We are advancing our digital therapeutics program through our strategic partnerships to optimize psychedelic medicine. Digital therapeutics is a high-growth market and we are focused on capitalizing on the synergies between technology and the psychedelic medicine ecosystem,” said Guthrie.
She emphasized that the firm was building on the success of Cognitivity’s Integrated Cognitive Assessment (ICA) tool, a digital test validated to detect early cognitive deficits in dementia and multiple sclerosis (MS), a potentially disabling disease of the brain and spinal cord (central nervous system).
“We have partnered to explore the digital assessment tool for mental health via two clinical trial studies. We are currently evaluating initial data from this project and will provide further updates as they become available,” said Guthrie.
The Wellbeing boss also told shareholders that the firm is “evaluating additional strategic acquisitions” to expand and enhance the group’s extensive North American clinical network to provide access to “innovative treatments to a growing patient base”.
“We believe focusing on expanding our network of clinics will provide the company with a larger footprint to roll out new treatments as they become approved by the US Food and Drug Administration (FDA) and Health Canada to meet the growing demand and to capitalize on new treatment opportunities,” noted Guthrie.
Meanwhile, Wellbeing said it has also bolstered its team by hiring experienced finance executive Terry Zimaro as chief financial officer and Natalie Dolphin as vice president Marketing and Investment Relations at the company.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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