Psychedelics company focusing on development and delivery of technology enabled psychedelic therapies Field Trip Health Ltd. (NASDAQ: FTRP) (TSE: FTRP) announced that it will be separating into two divisions which will both be publicly traded companies.
This spin off will result into creation of two separate companies one will be providing personalized care and the other will be developing psychedelic therapies. Field Trip Discovery will be renamed ‘Reunion Neuroscience Inc. while Field Trip Health will be renamed ‘Field Trip Health and Wellness Ltd‘.
Current shareholders in Field Trip Health will be receiving shares of both companies which will be having separated and focused management and governance tailor made for each company’s operational and strategic needs.
Separation of the management will enable establishment of different capital structures and capita allocation plans putting into considerations the unique strategies and requirements of each company.
Through a collaboration agreement, the two companies will maintain current synergies which will provide access to data, assistance in protocol development, preferential access to clinical trial sites and other benefits.
The separation will provide differentiated investment characteristics and a focused thesis for long-term investors in each company. The companies will be training clinicians in psychedelic-assisted psychotherapies through Field Trip training programs.