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With Psychedelics, Mental Health Care May Never be the Same

With psychedelics, mental health care may never be the same. All as some of the nation’s “top universities are racing to set up psychedelic research centers, and investors are pouring millions of dollars into a pack of start-ups. States and cities across the country are beginning to loosen restrictions on the drugs, the first steps in what some hope will lead to the federal decriminalization of psychedelics for therapeutic and even recreational use,” as reported by The New York Times. That’s been substantial news for NeonMind Biosciences (CSE:NEON) (OTC:NMDBF), Cybin Inc. (NEO:CYBN)(OTC:CLXPF), Tryp Therapeutics Inc. (CSE:TRYP), Mind Medicine Inc. (NEO:MMED)(OTC:MMEDF), and Compass Pathways (NASDAQ:CMPS).

Not only has the US FDA been supportive of psychedelics, Johns Hopkins, Yale, Berkeley, and Mount Sinai Hospital are establishing psychedelic divisions, as well. Plus, there’s been a substantial proof psychedelics can help with issues such as depression, anxiety, addiction, obsessive compulsive disorder, and obesity.

In fact, NeonMind Biosciences is exploring psilocybin as a potential treatment for obesity and to support weight loss. In fact, NeonMind’s first drug candidate employs psilocybin as an agonist to the serotonin receptor 5-HT2A, which is involved in the hallucinogenic effect of psychedelics. The second drug candidate employs psilocybin as an agonist to the serotonin 5-HT2C receptor, which controls appetite.

NeonMind Biosciences (CSE:NEON)(OTC:NMDBF) Creating a Medical Advisory Board

NeonMind Biosciences an integrated drug development and wellness company focused on the potential therapeutic uses of psilocybin for treating obesity and weight management conditions, is pleased to announce the formation of a Medical Clinic Advisory Board to guide the planning and operation of NeonMind branded clinics across Canada. Members of the advisory board will be comprised of experts on provincial and local health care access and advocacy, ketamine treatment and psychotherapy protocols, and clinical operations, strategy, and growth.

“The formation of our Medical Clinic Advisory Board is a critical next step in the creation of our clinics and treatment models. By incorporating a team of experts specializing in mental healthcare, interventional psychiatric treatment, psychedelics, and clinical deployment, operations, and advocacy, we are achieving the next step in our strategic plan to increase treatment access in local markets across Canada,” said Robert Tessarolo, President & CEO of NeonMind.

Currently, ketamine and esketamine may legally be prescribed and administered in Canadian medical clinics, however there is a need for these clinics and treatments to be tailored to community and local health needs. As psychedelic drug development and treatment programs evolve to include additional psychedelic-enhanced therapies with substances like psilocybin, NeonMind will be positioned to have the infrastructure in place to safely and effectively administer these treatments.

“Our Medical Clinic Advisory Board will ensure that NeonMind is able to develop protocols and treatment programs at the cutting edge of mental health research and ensure that we are prioritizing value, access and advocacy for those who need them,” added Rob Tessarolo.

Other related developments from around the markets include:

Cybin Inc., a biotechnology company focused on progressing psychedelic therapeutics, announced that it has filed a new provisional patent application in support of its ongoing drug candidate programs. The application discloses novel compositions which are expected to have improved pharmacokinetic profiles while retaining key efficacy measures of the original molecules and discloses innovative methods of deploying the novel compositions with faster therapeutic onset of Cybin’s psychedelic tryptamine, while reducing psychedelic side effects and decreasing duration of the therapeutic effect thereof.  

Tryp Therapeutics Inc., a pharmaceutical company focused on developing clinical-stage compounds for diseases with unmet medical needs, announced a master service agreement with Clinlogix, a Contract Research Organization (CRO), to support Tryp’s clinical development of its Psilocybin-for-Neuropsychiatric Disorders (PFNTM) program. Clinlogix has global experience with providing CRO services for the development of novel pharmaceutical products. The company will collaborate with Tryp and its clinical partners in a number of areas including medical writing, biostatistical analysis, data management, and trial monitoring.

Mind Medicine Inc., a leading clinical stage psychedelic medicine company, and Nextage Therapeutics, an Israeli innovative drug development company, announce the execution of a Memorandum of Understanding regarding the launch of an exclusive collaborative development program to optimize the delivery of certain psychedelic drug candidates, leveraging Nextage’s proprietary Brain Targeting Liposome System (BTLS) delivery technology, for which it has an exclusive license.  MindMed and Nextage will initially collaborate to optimize the delivery of drug products based on noribogaine, and ultimately other ibogaine derivatives, and will share development costs and intellectual property arising from the collaboration.

Compass Pathways, a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, reported its financial results for the first quarter 2021 and gave an update on recent progress across its business. George Goldsmith, Chairman, CEO and Co-founder, COMPASS Pathways, said, “Our recent financing gives us additional resources to work even faster and to expand our efforts, grow our team, and focus on developing new indications, new compounds and new technologies, building on our leadership position in psilocybin therapy and mental health care. Far too many people are suffering with mental health challenges today. We are focused on developing evidence-based therapies that can make a difference and be accessible to as many patients as possible who might benefit. The COMP360 data published in the New England Journal of Medicine showed promising signals in a small investigator-initiated study. We are approaching the completion of our phase IIb trial of COMP360 psilocybin therapy for treatment-resistant depression, and on track to report data by the end of the year.”

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. NeonMind Biosciences Inc. has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of NeonMind Biosciences Inc. Please click here for full disclaimer.

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