Mar 13, 2024
Cody Shandraw, President and Co-Founder of Healing Realty Trust, aims to provide robust mental and behavioral health treatment facilities. The lack of infrastructure has been a significant hurdle for expanding the commercialization of drugs that require longer in-office visits and space to accommodate the needs of patients undergoing treatments. The emerging field of psychedelics for treating neurological conditions like PTSD requires clinicians to understand the physical requirements for treatment facilities to provide privacy and comfort during the extended time necessary for many of these treatments.
Cody explains, "In 2020, it was a really interesting stat that I was made aware of at one of the conferences down here in Miami. It was around a drug called Spravato, which is an intranasal ketamine drug. And they were very excited about the launch. It was in development for quite some time, and unfortunately, it didn't commercialize, I think, to their expectations. I asked one of the drug reps down here in Florida why he thought that was, and he said it was a really simple answer: the lack of infrastructure."
"It's a unique drug, and we've only seen this a couple of times. Maybe proton therapy or dialysis centers where when a new therapy is approved, you need that infrastructure to go along with that therapy. And that is what Spravato was. You actually had to be in a clinic for two hours after administration for Spravato. So it was a very unique thing. And a lot of the legacy behavioral mental health providers that would be the target market for that drug, they didn't want to disrupt normal patient inflows into their clinic. So it took a couple of years. When that drug was launched, there were less than a hundred clinics in the United States offering that. Today, there are 2,700 of those clinics, and now Spravato is a blockbuster drug."
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