The backstory on PurMinds’ investment in Israeli psychedelic drug company IMIO Life

Privately-held PurMinds BioPharma (Burlington, Ontario, Canada) recently announced an investment in the psychedelic drug company IMIO Life Ltd., a subsidiary of Tel Aviv–based Nextage Therapeutics Ltd. (TASE:NXTG). Nextage Therapeutics is itself a division of the pharmaceutical company Nextar Chempharma Solutions (Ness Ziona, Israel).

We reached out to PurMinds’ chief strategy and financial officer, Aron Buchman, to learn more about the alliance.

PPW: How did the relationship between PurMinds and IMIO Life come about?

Aron Buchman: PurMinds and the Nextar Family have had a corporate relationship since 2019. The initial R&D focus was on PurMinds’ patented nano-extraction technology.

PurMinds CEO Janet Qi visited Nextar Chempharma at their ODEC-accredited facilities at the prestigious Weizman Science Park, Israel. Unfortunately, the collaboration between the Nextar family of companies and the PurMinds family of companies was hindered by the COVI…

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