Field Trip Health

Field Trip Health was a Canadian mental-health and psychedelic-medicine company founded in April 2019 by Ronan Levy, Joseph del Moral, Hannan Fleiman, Dr. Ryan Yermus, and Mujeeb Jafferi. Most of the founders, other than Jafferi, had previously worked together in Canada's cannabis sector. The company pursued two related business models: operating clinics that delivered ketamine-assisted psychotherapy and developing proprietary psychedelic compounds intended to support the treatment of mental-health conditions. Its clinical model centered on ketamine-assisted therapy, an approach in which a medically supervised ketamine treatment is combined with preparation, therapeutic support, and follow-up care. Field Trip opened or operated clinics in several Canadian and American markets, including Toronto, Vancouver, New York, Washington, D.C., and California. It also maintained a research and cultivation facility in Jamaica associated with its work on psychedelic substances. Field Trip's principal drug-development program was FT-104, later known as RE-104 after the research business was separated from the clinic business. The compound was designed to act on the 5-HT2A serotonin receptor, the same broad receptor system implicated in the effects of psilocybin. Field Trip's stated development concept was a psychedelic experience lasting approximately two hours, shorter than the experience commonly associated with psilocybin-containing mushrooms. The intended advantage was a potentially more manageable treatment window for clinical use, although the compound remained investigational and was not an approved medicine during Field Trip's existence. The company became publicly traded in October 2020 through a reverse takeover of Newton Energy Corporation, an oil-and-gas company, on the Canadian Securities Exchange. It subsequently obtained a Nasdaq listing in July 2021. The public listing provided access to capital during a period when investor interest in psychedelic therapeutics was increasing, but the business also faced the high costs of clinic expansion, drug development, regulatory work, and public-company operations. In May 2022, the board approved a separation into two independent businesses. Field Trip Health and Wellness retained the clinical and care-delivery activities, while Field Trip Discovery focused on pharmaceutical research and was later renamed Reunion Neuroscience. The separation did not preserve the original integrated corporate structure. Reunion completed its separation in August 2022 and continued development of the RE-104 program, while the clinic-focused Field Trip Health and Wellness business deteriorated financially. Field Trip Health and Wellness reported claims or potential claims exceeding CA$59 million in January 2023. In March 2023, it laid off most of its employees, closed clinics, and sought creditor protection under Canada's Companies' Creditors Arrangement Act. Its American clinics were sold to Stella for US$751,770, while its Canadian clinics were sold to the Canadian Centre for Psychedelic Healing for CA$627,900. In May 2023, its Jamaican research and cultivation laboratory was sold to Jamaican businessman William Mahfood for US$350,000. The sale proceeds were distributed to creditors, and the American assets and Field Trip name were subsequently incorporated into Stella's operations. The research successor also faced significant corporate pressure. Reunion Neuroscience became a separate company under the leadership of Greg Mayes, later faced a patent-related lawsuit involving Mindset Pharma, and experienced difficulty maintaining Nasdaq listing requirements. MPM BioImpact acquired Reunion in 2023 for approximately US$13.1 million, making it private. Reunion later raised a reported US$103 million Series A financing in 2024 to support development of RE-104, including a planned Phase II program. Because the original Field Trip Health business was divided and its clinic-focused successor became defunct, the Field Trip Health brand is best understood as a discontinued corporate brand whose clinical assets moved to Stella and other operators, while its drug-development lineage continued through Reunion Neuroscience.

Field Trip Health emerged in 2019 during a period of rising interest in psychedelic medicine and alternative approaches to mental-health treatment. Its founders brought experience from Canada's cannabis industry, but the company pursued a different therapeutic category: clinic-based ketamine treatment and the development of psychedelic compounds intended for medically supervised use. The business was designed as an integrated platform, with patient-facing clinics generating clinical experience and a research division working toward proprietary medicines. The company's clinical offering was based on ketamine-assisted psychotherapy. Rather than presenting ketamine simply as a standalone pharmaceutical product, Field Trip emphasized a treatment pathway involving clinical assessment, preparation, supervised dosing, and therapy or integration work. The company established locations in Canada and the United States, including clinics in Toronto, Vancouver, New York, Washington, D.C., and California. It also maintained a Jamaican laboratory connected with research and psilocybin cultivation. Alongside its clinic network, Field Trip developed FT-104, a synthetic psychedelic compound intended to act on the 5-HT2A receptor. The research concept was to create a psilocybin-like experience with a shorter duration, estimated at about two hours. A shorter treatment window could theoretically make psychedelic-assisted therapy easier to schedule and supervise, although FT-104 remained an investigational compound and did not become an approved commercial medicine under the Field Trip brand. Field Trip entered public markets in October 2020 by completing a reverse takeover of Newton Energy Corporation on the Canadian Securities Exchange. It later secured a Nasdaq listing in July 2021. The public-company structure supported expansion and research spending, but it also exposed the business to market volatility and the substantial costs associated with opening clinics, retaining specialized personnel, advancing drug candidates, and meeting public-company obligations. In May 2022, the board divided the business into two independent entities. The clinical organization became Field Trip Health and Wellness, while the research organization became Field Trip Discovery and was subsequently renamed Reunion Neuroscience. Reunion completed its separation in August 2022 and began trading on the Toronto Stock Exchange. Greg Mayes became its president and chief executive officer in September 2022, while co-founder Ronan Levy left the Reunion board. The clinic-focused company experienced a substantially more difficult outcome. In January 2023, Field Trip Health and Wellness faced claims or potential claims exceeding CA$59 million. In March, it dismissed most of its staff, closed locations, and sought protection from creditors under the Companies' Creditors Arrangement Act. Its United States clinics in New York, Washington, D.C., and California were acquired by Stella for US$751,770. The Toronto and Vancouver clinics were acquired by the Canadian Centre for Psychedelic Healing for CA$627,900. In May 2023, the Jamaican research and cultivation laboratory was sold to William Mahfood for US$350,000. Proceeds from the asset disposals were directed to creditors. The American assets and the Field Trip name were ultimately folded into Stella, and Mujeeb Jafferi and chief technology officer Amardeep Manhas joined Stella in senior operating roles. Reunion Neuroscience continued as the research successor. In March 2023, it filed litigation against Mindset Pharma concerning alleged copying of RE-104 and alleged misleading conduct in a United States patent application. Reunion also faced pressure to maintain Nasdaq's minimum share-price requirements. MPM BioImpact acquired the company in 2023 for approximately US$13.1 million, ending its public-company status. In May 2024, Reunion announced a US$103 million Series A financing led by Novo Holdings and MPM BioImpact. The capital was intended to support RE-104 development, including a Phase II study, with the compound being investigated initially for postnatal depression and potentially for other conditions such as cancer-related adjustment disorder. Thus, Field Trip Health ceased to exist as an integrated operating company, but parts of its clinic network, technology, research data, and pharmaceutical program continued under different owners.

• 2024

  Reunion reports Series A financing

  [1]Field Trip Healthen.wikipedia.org

  The research successor reports US$103 million in financing to support RE-104 and planned Phase II work.

• 2023

  Clinic business seeks creditor protection

  [1]Field Trip Healthen.wikipedia.org

  Field Trip Health and Wellness closes clinics, reduces staff, and enters proceedings under Canada's Companies' Creditors Arrangement Act.

• 2023

  Reunion is acquired and taken private

  [1]Field Trip Healthen.wikipedia.org

  MPM BioImpact acquires Reunion Neuroscience, ending its public-company status.

• 2022

  Corporate separation approved

  [1]Field Trip Healthen.wikipedia.org

  Field Trip divides its clinical operations from its psychedelic-drug discovery activities.

• 2022

  Reunion Neuroscience becomes independent

  [1]Field Trip Healthen.wikipedia.org

  The research business completes its separation and begins trading on the Toronto Stock Exchange as REUN.

• 2021

  Nasdaq listing

  [1]Field Trip Healthen.wikipedia.org

  The company obtains a Nasdaq listing as it expands its clinic and psychedelic-drug strategy.

• 2020

  Public listing through reverse takeover

  [1]Field Trip Healthen.wikipedia.org

  Field Trip becomes publicly traded on the Canadian Securities Exchange through a reverse takeover of Newton Energy Corporation.

• 2019

  Field Trip Health is founded

  [1]Field Trip Healthen.wikipedia.org

  Ronan Levy, Joseph del Moral, Hannan Fleiman, Ryan Yermus, and Mujeeb Jafferi establish the company in Canada.

An integrated psychedelic-health platform combining supervised ketamine-assisted psychotherapy with the discovery and development of potentially shorter-duration psychedelic medicines.

• Clinical mental-health service

  Ketamine-assisted psychotherapy

  Field Trip's principal patient-facing service combined medically supervised ketamine administration with psychotherapy-related preparation and follow-up. The model was delivered through dedicated clinics in Canada and the United States and positioned ketamine as part of a broader therapeutic process rather than merely as a drug treatment. The clinic network was later divided among acquiring organizations after Field Trip Health and Wellness entered creditor protection.

• Investigational psychedelic compound

  FT-104 / RE-104

  FT-104 was Field Trip's lead psychedelic-drug program and was later renamed RE-104 after the research division became Reunion Neuroscience. The compound was designed as a synthetic, psilocybin-like 5-HT2A agonist intended to produce a psychedelic experience of roughly two hours. It remained investigational and was subsequently developed by Reunion for conditions including postnatal depression and other potential mental-health applications.

• 2023

  Dispose of Field Trip Health and Wellness assetsOther

  Background

  The clinic-focused successor faced claims or potential claims exceeding CA$59 million, reduced its workforce, closed clinics, and sought creditor protection.

  Action taken

  The United States clinics were sold to Stella, the Canadian clinics were sold to the Canadian Centre for Psychedelic Healing, and the Jamaican laboratory was sold separately.

  Aftermath

  Sale proceeds were distributed to creditors. The American assets and Field Trip name moved under Stella, while the original clinic-focused business became defunct.

  Reported asset sale proceeds. US$751,770 for the American clinics; CA$627,900 for the Canadian clinics; US$350,000 for the Jamaican laboratory (2023)

  Source

• 2023

  Sell the research successor to MPM BioImpactM&A

  Background

  Reunion Neuroscience inherited Field Trip's drug-development program but faced public-market and listing pressures.

  Action taken

  MPM BioImpact acquired Reunion Neuroscience and converted it into a private company.

  Aftermath

  The RE-104 program continued under private ownership and later received new financing.

  Reported acquisition value. Approximately US$13.1 million (2023)

  Source

• 2022

  Separate clinic operations from drug discoveryStrategy

  Background

  Field Trip operated both psychedelic-assisted-therapy clinics and an investigational-drug research program, creating two businesses with different capital needs and operating profiles.

  Action taken

  The board approved the creation of Field Trip Health and Wellness for clinical care and Field Trip Discovery for research. Field Trip Discovery was later renamed Reunion Neuroscience.

  Aftermath

  The separation completed in 2022. The clinic business later entered creditor protection, while Reunion continued the RE-104 program under new ownership.

  Source

1. 1Field Trip Healthen.wikipedia.org