Psychedelics are on the cusp of a major boom, and could soon go mainstream. With US FDA support, clinical research studies, and legalization in Oregon, it may only be a matter of time before other states begin to join in. In fact, there are reports California could decriminalize it, too. According to Daily Democrat, “Both a revived ballot measure and promised legislation from State Sen. Scott Wiener, D-San Francisco, could open access to hallucinogenic mushrooms and perhaps other psychedelics in the Golden State within the next two years.” In addition, over the last few years, research has offered proof psychedelics like psilocybin can be useful in the treatment of depression, anxiety, obsessive-compulsive disorder, addiction, and PTSD. That being the case, it wouldn’t be a surprise if big pharmaceutical companies jumped in, too. With excitement gaining momentum, some of the top companies to watch include CYBIN Inc. (NEO:CYBN), Mind Medicine Inc. (NEO:MMED)(OTC:MMEDF), Compass Pathways (NASDAQ:CMPS), Field Trip Health Ltd. (CSE:FTRP)(OTC:FTRPF), and HAVN Life Sciences (CSE:HAVN).
CYBIN Inc. (NEO:CYBN) BREAKING NEWS: CYBIN Inc. a life sciences company focused on psychedelic pharmaceutical therapies, is pleased to provide an update on its on its eight patent filings, which cover the Company’s novel therapeutics, delivery mechanisms and treatment regiments. Cybin’s updated corporate presentation will be available at www.cybin.com.
The Company is also pleased to announce that it intends to expand the development of its therapeutics program to include, in addition to psilocybin, psychedelic compounds such as DMT, psilocybin analogues and a range of tryptamines and phenylethylamines which are expected to have improved pharmacokinetic profiles, while retaining the efficacy of the original molecules. In addition, the Company intends to build a database of molecules and their chemically synthesized pathways for use in the pharmaceutical industry.
Patent Filing Highlights:
- The Company has a provisional patent application for an oral film delivery mechanism covering all psychedelic molecules delivered through oral films, which is expected to increase bioavailability and allow for more consistent doses. The oral film delivery mechanism is expected to have a similar bio-efficacy to oral capsules, but at a reduced dosage and cost.
- The Company has a patent application for a delivery technology covering various chemically synthesized psychedelic molecules which is expected to increase onset times in a similar route to intravenous treatments.
- The Company has multiple patent applications for deuterated psychedelic molecules and analogues which are expected to provide greater stability, better potency, more control over duration and greater bioavailability than other forms of chemical synthesis, bio synthesis or within their natural state.
- The Company has a patent application for platforms that create supportive treatment regimens and is conducting ongoing research of pre-and post-protocol with the goal of enhancing the patient experience.
“Our management team has a proven track record in developing and commercializing dozens of therapeutics, including a modified psychedelic targeted for treatment resistant depression and we intend to continue to advance our IP portfolio, drug discovery platform, delivery mechanisms and technologies all with the end goal of enhancing the patient experience and progressing the psychedelic industry,” said Cybin’s Chief Executive Officer, Doug Drysdale.
Other related developments from around the markets include:
Mind Medicine Inc. (NEO:MMED)(OTC:MMEDF) is pleased to announce that further to its previously announced offering, it has filed a final short form prospectus with the securities commissions or similar authorities in each province of Canada, other than Québec. Pursuant to the amended and restated underwriting agreement among the Company, Canaccord Genuity Corp., Eight Capital and CIBC Capital Markets, the Underwriters have agreed to purchase 18,200,000 units of the Company, on a “bought deal” basis, at a price per Unit of CAD$4.40 (for gross proceeds of CAD$80,080,000.
Compass Pathways (NASDAQ:CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, reported its financial results for the third quarter of 2020 and gave an update on recent progress across its business. George Goldsmith, Chairman, CEO and Co-founder, COMPASS Pathways, said, “This has been a significant quarter, with an IPO that gives us the funds needed to advance our mission and transform mental health care. Recent hires for the company build further important expertise within our strong leadership team, including in data science and digital health, which will be core to the future of mental health care. We remain fully focused on execution of our phase IIb trial investigating our COMP360 psilocybin therapy for treatment-resistant depression and, with scientific partners in our recently established Drug Discovery Center, are also evaluating the potential of early stage compounds to address mental health challenges.”
Field Trip Health Ltd. (CSE:FTRP)(OTC:FTRPF), a global leader in the development and delivery of psychedelic therapies, and WHOOP, the human performance company, announced a partnership whereby Field Trip will be using WHOOP Strap 3.0 to measure the biometric effects of Field Trip’s psychedelic therapies. Field Trip, which is opening Field Trip Health centers across North America and Europe for the delivery of psychedelic therapies, plans to conduct an observational study to assess whether Field Trip’s ketamine-assisted therapies, which have demonstrated significant efficacy in treating mental health conditions such as depression, anxiety and PTSD, translate into improvements in physical health through a variety of biometric measures collected via WHOOP Strap 3.0 including heart rate variability (HRV), resting heart rate, and overall sleep quality. Field Trip procured WHOOP products and access to additional data insights via a research partnership and enterprise program.
HAVN Life Sciences (CSE:HAVN), a biotechnology company pursuing standardized extraction of psychoactive compounds, the development of a full range of natural healthcare products, and innovative mental health treatment, is pleased to announce a product listing agreement for a range of Havn Life’s natural health products, which will be sold in select Nesters Markets in British Columbia. The range of products will hit shelves across British Columbia in Q1/Q2 of 2021. “This is a major milestone for Havn Retail, enabling us to reach our goal of launching our initial product line in the market for early 2021. Nesters Market is recognized across British Columbia as a provider of high quality items and has been an early adopter of many new product lines, Havn Life’s formulations are bioavailable and naturally-derived and are created with human optimization in mind. The products have been thoughtfully formulated with adaptogens and antioxidants to aid in overall brain health.” said Tim Moore, CEO of Havn Life.
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