- Red Light Holland (TRIP) has entered the psychedelics technology space by acquiring applied sciences company Radix Motion
- The purchase price was US$3.2 million
- Radix Motion is focused on empowering the psychedelics ecosystem with embodied technology, including augmented reality and virtual reality
- Radix’s technology is used for interactive psychedelics education, novel drug research, digital therapeutics and mobile health apps
- Red Light Holland is engaged in the production, growth and sale of premium magic truffles in the Netherlands
- Red Light Holland (TRIP) is down by 1.54 per cent and is currently trading at $0.32 per share
Red Light Holland (TRIP) has entered the psychedelics technology space by acquiring applied sciences company Radix Motion.
Acquisition Terms
As per the definitive agreement dated June 7, 2021, the company’s wholly owned subsidiary, Red Light Acquisition, acquired Radix Motion for just over US$3.2 million.
The acquisition price includes 12,701,741 Red Light Holland common shares valued at US$3,195,406 and US$67,413.05 in cash.
Radix Motion Overview
Radix Motion is focused on empowering the psychedelics ecosystem with embodied technology, including augmented reality, virtual reality and interactive holograms.
- The company’s biometric movement data technology is capable of determining the optimal microdose and protocol for each person
- This scientific data is a valuable asset for working with regulatory agencies towards expanding microdosing into other countries
- Radix has committed to building a product for Red Light Holland known as Wisdom, a companion figurine that will serve as a meditation aid and a means to create a healthier relationship with one’s phone
- The company’s technology is also currently powering Red Light Holland’s iMicro privacy first web app and digital care platform, as well as various AR and VR psychedelics education experiences in the Netherlands
- Radix’s expertise in immersive technology has broad applicability, including interactive psychedelics education, novel drug research, digital therapeutics and mobile health apps
Sarah Hashkes, CEO of Radix Motion and CTIO of Red Light Holland, commented,
“Psychedelics increase the plasticity in our brain and I believe the future of psychedelics will be using technology like ours to create support structures and customizable settings that will allow for tight feedback loops to help people achieve personal growth.
With Red Light Holland’s support, we can further our vision and build technology that increases the bandwidth of human connection by linking us to our body and to each other in alignment with the magic of psychedelics.”
Todd Shapiro, Director and CEO of Red Light Holland, added,
“After working with Radix Motion for almost a year now, we are proud to have finalized our acquisition because we strongly feel their expertise, innovation and team give us a unique and superior digital and technological advantage in the psychedelic sector.”
Red Light Holland is engaged in the production, growth and sale of premium magic truffles in the Netherlands.
Red Light Holland (TRIP) is down by 1.54 per cent and is currently trading at $0.32 per share as of 9:30 am ET.