For those of us who have been a little shaky on the mental health front over the past few years, there are a ton of options that are starting to pop up. The on-demand chat-based therapy options are one, and at-home ketamine treatments are another. We’ve seen Mindbloom and Fieldtrip Health take pole position, and recently Wondermed announced it had raised $4.6 million to join the ketamine-powered bandwagon.
The services are all minor variations on a very similar theme. You sign up and give them some money, and are guided through a telemedicine protocol to find out if ketamine is a reasonable treatment option for you. If so, a small package will appear at the door and you will be invited, with varying degrees of supervision, to walk in, break free and face your inner demons.
I write lightly about this, but the ketamine treatment has completely changed my life, for reasons I’m not quite comfortable writing about in a place where everyone can read it. Suffice it to say; I’m a little suspicious of how “easy” it is to get approved for at-home ketamine treatment – my experience with Mindbloom reminded me of the early days of the medical marijuana process, where you would essentially have to do quite a bit of trying not to get are approved — but the mental health breakthroughs I’ve experienced in the treatments are undeniable.
Wonder Sciences is entering the fast-filling market with its Wondermed product, and what it calls “the most accessible ketamine solution on the market,” which, to my knowledge, is largely based on price. It claims that it is available at an introductory rate of $249 per month. Mindbloom is slightly more expensive (about $1,000 for the first 3 months, which works out to about $333 per month. For repeat customers, Mindbloom costs about $230 per month), and Field Trip clocks in at $1,250 for a comparable home package (about $410 per month).
On the one hand, I’m really excited that these treatments are becoming more and more available, and I’m curious if this is the start of a race to the bottom from a price point of view, with the inevitable FDA/DEA intervention sure to follow.
While ketamine clinics often cost over $1,500 per treatment and are given intramuscularly or intravenously (i.e. an injection into your muscles through an IV directly into your bloodstream), ketamine at home is usually done through a pressed powder capsule that users place in their mouths for a while. to have it absorbed sublingually (under the tongue).
Recent clinical trials prove the efficacy of ketamine as a fast-acting therapeutic treatment option for anxiety and depression, especially when compared to more traditional treatment approaches. Originally used as a pain reliever, ketamine improves neuroplasticity, ie the brain’s ability to adapt and be open to change. By stimulating the growth of new neural pathways, ketamine disrupts thought loops that can contribute to anxiety. Ketamine treatment usually lasts about an hour, with a recovery period of 2-3 hours afterward, and has minimal side effects compared to traditional anti-anxiety drugs.
“While the medical community largely agrees that ketamine is a successful treatment option for people struggling with anxiety and mental health conditions, the treatments available to date are limited and often require a large investment of time and financial resources,” says Ryan Magnussen, founder. and CEO of Wonder Sciences. “Wondermed is the most accessible ketamine-assisted protocol available. We are honored to play a role in impacting countless lives by helping people unlock their self-healing potential with a safe, scientifically proven protocol.”
Wondermed is currently accepting patients in California, New York, Florida and Texas, and will expand to Illinois, Arizona and Connecticut later this quarter. The company told me it plans to be available in 19 states by the end of the year.
The company just announced that it has raised a total of $4.6 million to date, largely from angel investors, on its way to raising additional funds from angels and institutional investors.
This post Wondermed pulls $4,600K from a hole to supply you with ketamine – TechCrunch was original published at “https://techcrunch.com/2022/06/23/wondermed-investment/”