Delic Teams Up With Paradigm To Create Ketamine Toxicology Testing Solution, Raises $7M For Expansion

Psychedelic wellness platform Delic Holdings Corp DELC DELCF (FRA:6X0) announced Thursday a first of its kind partnership with Paradigm Healthcare, an independent clinical laboratory located in St. Simons, Georgia that focuses on high complexity clinical toxicology, in order to bring state-of-the-art testing to Ketamine Infusion Centers LLC.

The partnership will ensure KIC access to Paradigm's Benchmark toxicology solution that uses LC/MS/MS test methods to identify and accurately measure drug compounds in the body.

KIC enables Delic to leverage its central hub of psychedelic education, media and information sources to patients seeking psychedelic therapy.

Paradigm's innovative Benchmark test platform will allow KIC to:

  • Identify the presence of other drugs in the patient's system to avoid potential conflicts with ketamine infusion before the beginning of the treatment. It can also detect very high levels of ketamine and norketamine, thus enabling the creation of a patient-specific treatment with proper ketamine levels being maintained throughout infusion treatment.
  • The test can also compare ketamine and norketamine levels with analytical data captured from Clinifusion EMR, including benchmarks when treatment started and ended, at what point patients began getting better, and the number of times the patient visited the clinics for treatments.

"Paradigm's Benchmark testing platform brings state-of-the-art drug testing technology and new reporting tools to clinicians who use psychedelics to treat people with serious behavioral health conditions," said Matt Stang, founder and CEO of the Vancouver-based company. "By integrating their state-of-the-art testing capabilities, KIC will be able to provide patients suffering from depression, anxiety, PTSD, and other debilitating conditions the most accurate, personalized ketamine treatment protocol in the industry. "

$7M Funding to Open New Psychedelic Wellness Clinic Locations

In the meantime, Delic Holdings announced that it has secured roughly CA$7 million ($5.53 million) in financing through a private placement with U.S. institutional investor.

The company issued ‎9 million of its units at CA$0.285 per unit and 15,56 million of its pre-funded ‎units at CA$0.2849, under the private placement that closed on Wednesday.

Each unit comprises one subordinate voting share and one subordinate voting share purchase warrant, which grants the holder rights to purchase one ‎additional SV Share at CA$0.38 per share, subject to ‎‎adjustment, at any time on or prior to 5:00 pm ‎on September 28, 2026.

Each pre-funded unit consists of one pre-funded subordinate voting share purchase warrant and one warrant, which entitles the holder to buy one SV Share CA$0.0001 per share and shall terminate upon exercise in full of ‎the pre-funded warrants. ‎‎

H.C. Wainwright & Co. acted as the exclusive placement agent for the transaction, receiving a cash commission of $560,000 or 8% of the gross proceeds of the transaction and 1.96 million compensation warrants, with each agent warrant entitles the holder thereof to purchase one SV Share at CA$0.38 per share at any time on or prior to 5:00 pm on September 28, 2026.

Delic plans to utilize the net proceeds of the private placement for expanding its clinic footprint, operating costs and for acquisitions.

Price Action

Delic Holdings' shares traded 5.39% higher at $0.2492 per share at the time of writing, Thursday morning.

Photo: Courtesy of fauxels from Pexels

Posted In: Ketamine InfusionMatt StangPsychedelicCannabisNewsPenny StocksFinancingOfferingsMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.