Field Trip Health

About Field Trip Health

Field Trip Health was a Canadian company specializing in ketamine-assisted psychotherapy, founded in April 2019 by Ronan Levy, Joseph del Moral, Hannan Fleiman, Ryan Yermus, and Mujeeb Jafferi. The founding team, excluding Jafferi, had a shared background in the Canadian cannabis industry. The company went public on the Canadian Securities Exchange in October 2020 through a reverse takeover and later listed on the Nasdaq in July 2021.

The business operated high-end clinics in cities like Toronto, New York, and Los Angeles, offering ketamine-assisted psychotherapy to treat conditions such as depression and anxiety. The treatment protocol typically involved a series of ketamine administration sessions combined with psychotherapy. Revenue was generated from these patient services, which were not covered by insurance and cost several thousand dollars for a full program. In addition to its clinics, the company had a drug development division, Field Trip Discovery, working on a novel psychedelic molecule, FT-104, and a research and cultivation lab in Jamaica for psilocybin mushrooms.

Despite raising significant capital, Field Trip experienced substantial financial losses. In May 2022, the company split into two entities: Field Trip Health and Wellness, focused on the clinics, and Reunion Neuroscience, which continued the development of FT-104. By March 2023, Field Trip Health & Wellness became insolvent and sought creditor protection. Subsequently, its assets were sold off. Stella, a healthcare company focused on trauma treatment, acquired Field Trip's three U.S. clinics, its brand, and technology stack for $751,770. As part of the acquisition, Field Trip co-founder Mujeeb Jafferi joined Stella as President and Clinics Operation Officer.