Neural Therapeutics

Name

Neural Therapeutics

Legal name

Neural Therapeutics Inc.

Website

https://neuraltherapeutics.ca

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Psychedelic Drug Discovery

NAICS

Medicinal and Botanical Manufacturing (325411), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Medicinal Chemicals & Botanical Products (2833), Pharmaceutical Preparations (2834)

akta.pro industry

PRIMARYHLAIACAC

Neurology & CNS Specialty Pharmaceuticals

Healthcare & Life Sciences/Pharmaceuticals/Specialty Pharmaceuticals

SECONDARYHLAGAHAD

Controlled Substances / DEA-Scheduled API Manufacturing

Healthcare & Life Sciences/Life Science Tools & Services (CRO/CDMO/Lab Services)/API & Small-Molecule Development/Manufacturing Services

SECONDARYHLAAAIAE

AI/ML-Enabled Biologic Discovery Platforms (computational design, in silico screening)

Healthcare & Life Sciences/Biotechnology & Biologics/Biologic Drug Discovery Platforms (screening, antibody engineering, synthetic biology)

Keywords

• Psychedelic drug discovery
• Ethnobotanical therapeutics
• CBD retail products
• Hemp consumer goods
• Substance use treatment

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Supply Chain, Operations, Marketing or Sales, Others

Revenue model

1. CBD Retail Operations (via Hanf.com): Neural holds 30.75% equity interest in CWE European Holdings Inc. (Hanf.com), which operates physical retail stores and e-commerce platforms selling CBD and private label products in Germany. Hanf.com reported approximately CAD $11.2 million in revenue for fiscal 2025 with positive normalized operating income of approximately CAD $280,000.
2. Wholesale Distribution: Hanf.com has expanded into wholesale distribution channels in Germany, broadening its national footprint and market penetration. This channel shift resulted in gross margin declining to approximately 35% from 58% due to higher proportion of lower-margin wholesale sales.
3. Pharmaceutical Drug Development: Neural Therapeutics is developing therapeutic drugs for mental health conditions related to substance use disorders including alcohol and opioid dependence. The company is advancing research into sub-hallucinogenic doses of mescaline for FDA-approved psychedelic treatments.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Neural Therapeutics Inc. is an ethnobotanical drug discovery and development company focused on developing therapeutic treatments for substance use disorders (alcohol and opioid dependence) using sub-hallucinogenic doses of mescaline extract derived from the San Pedro cactus (Echinopsis pachanoi). The company also operates, through its 30.75%-owned subsidiary CWE European Holdings Inc. (Hanf.com), a German CBD and hemp retail chain with 19 physical stores and an e-commerce platform selling CBD and private label products sourced from over 40 EU vendors.

Product overview

Neural Therapeutics operates as an ethnobotanical drug discovery company with two primary business components: (1) a core drug development platform focused on developing sub-hallucinogenic mescaline-based treatments for substance use disorders using San Pedro cactus extracts, and (2) a commercial retail operation through its majority-owned subsidiary Hanf.com, one of Germany's leading CBD retailers operating 19 physical stores and an e-commerce platform across Germany. The company is pursuing full acquisition of Hanf.com to expand its commercial footprint in Europe while maintaining its core commitment to drug discovery and mental health innovation.

Differentiator

Problem solved

Functional benefit

Brands

• Hanf.com: CBD and hemp retail brand operated by portfolio company CWE European Holdings Inc., featuring physical stores and e-commerce platform in Germany offering CBD and private label products.

Products and services

• Mescaline-Based Psychedelic Drug Discovery Program Ethnobotanical drug discovery and development program focused on sub-hallucinogenic doses of mescaline extract derived from San Pedro cactus (Echinopsis pachanoi) for treatment of substance use disorders including alcohol and opioid dependence, as well as anxiety, depression, and PTSD.
• Hanf.com Physical Retail Stores Physical retail storefronts in Germany selling CBD and private label products sourced from over 40 EU vendors. The network expanded to 19 stores across Germany including new locations in Bielefeld and Herford (northern Germany).
• Hanf.com E-commerce Platform Online store at www.hanf.com selling CBD and private label products to consumers in Germany and across the European Union.
• Hanf.com B2B Wholesale Distribution Wholesale and B2B e-commerce portal through which Hanf.com supplies CBD and private label products to other operators and newly formed cannabis clubs in the German retail market.

Quantifiable outcome

• 58% year-over-year revenue growth to CAD $11.2 million in fiscal 2025
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered minor and core.

• Ritual Herbs (TFD GmbH)minorChannel Partner/ Reseller/ Distributor · 13 August 2025Exclusive distribution agreement with TFD GmbH for Ritual Herbs, a premium line of German-crafted, herbal smoking blends. Hanf.com serves as the exclusive distribution partner for these products across Germany.
• CWE European Holdings Inc. (Hanf.com)coreStrategic or Co-development Partner · 3 October 2024Neural Therapeutics signed a non-binding letter of intent to acquire an interest in CWE European Holdings Inc., operator of Hanf.com chain of 12 physical and online stores in Bavaria, Germany. The partnership provides Neural with access to the German CBD market and Hanf.com's consumer market expertise to expand Neural's nutraceutical offerings. The transaction was structured in multiple stages: Series A Option for ~36% equity (completed), and Series B Option for remaining 64%. Neural completed acquisition of 30.75% interest on August 12, 2025.

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Field Trip Health: Psychedelic-assisted therapy operator and developer, with ketamine clinic network and psilocybin R&D programs targeting depression and PTSD. Comparable to Neural in combining a clinical/commercial operation with psychedelic drug development for mental health.
• Cybin: Clinical-stage psychedelic therapeutics company developing deuterated psilocybin analogs (CYB003) for depression and other indications. Comparable to Neural as a small-cap public psychedelic drug developer targeting mental health and addiction with proprietary chemistry approaches.
• GH Research: Clinical-stage biopharmaceutical company developing mebufotenin (5-MeO-DMT) therapies for treatment-resistant depression. Comparable to Neural as a small-cap public psychedelic drug developer pursuing novel psychoactive molecules for CNS indications.
• MindMed: Clinical-stage psychedelic medicine company developing LSD-based therapies (MM-120) for anxiety and ADHD, and additional programs for substance use disorders. Comparable to Neural as a publicly listed psychedelic therapeutics developer targeting CNS and addiction indications.
• Optimi Health: Canadian psychedelic drug developer producing GMP psilocybin and MDMA and pursuing clinical development for mental health conditions. Comparable to Neural as a Canada-listed (CSE) psychedelic therapeutics peer combining cultivation/manufacturing with drug development.
• COMPASS Pathways: Late-stage psilocybin therapy developer for treatment-resistant depression and other mental health conditions. David Nutt chairs COMPASS's SAB and is also on Neural's advisory board, and both companies pursue psychedelic-derived pharmaceutical development targeting CNS indications.
• AWAKN Life Sciences: Clinical-stage psychedelic therapeutics company developing ketamine-assisted and MDMA-based treatments for substance use disorders and other mental health conditions. David Nutt chairs AWAKN's SAB, providing a direct link to Neural Therapeutics' own advisory composition, and both companies pursue psychedelic therapies for addiction.

Broad incumbents

• Atai Life Sciences: Larger clinical-stage biopharmaceutical platform developing multiple psychedelic and non-psychedelic candidates (psilocybin, DMT, ibogaine derivatives) for mental health disorders. Broader portfolio and deeper capital base than Neural, but operates in the same psychedelic CNS therapeutics space.
• Canopy Growth: Global cannabis leader with established German Cansativa distribution operations. Competes with Hanf.com for wholesale supply contracts and consumer mindshare in the German CBD market.
• Tilray Brands: Large global cannabis operator with significant German distribution and retail exposure. Comparable to Hanf.com as an established cannabis/CBD incumbent competing for the same German retail customers and shelf space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/NeuralTherap
• Facebookfacebook.com/neuraltherapeutics
• LinkedInca.linkedin.com/company/neural-therapeutics
• Instagraminstagram.com/neuraltherapeutics

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Neural Therapeutics