The Race to Prove Psychedelics Can Help Resolve Mental Health Issues Has Just Begun

The psychedelics story is gaining momentum, as NeonMind Biosciences (CSE:NEON) (OTC:NMDBF), Lobe Sciences Ltd. (CSE:LOBE)(OTC:GTSIF), Mydecine Innovations Group (CSE:MYCO)(OTC:MYCOF), Aikido Pharma Inc. (NASDAQ:AIKI), and Seelos Therapeutics Inc. (NASDAQ:SEEL) race to help treat a myriad of mental health issues, weight loss, and obesity.

NeonMind Biosciences, for example, has two drug development candidates exploring psilocybin as an innovative treatment approach to treat obesity and support weight loss. 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, and the second drug candidate employs psilocybin as an agonist to the serotonin 5-HT2C receptor, which controls appetite.

Psilocybin Studies Are Going Mainstream – and Fast

For example, Lobe Sciences Ltd. just announced a preclinical study of psilocybin for the treatment of mild traumatic brain injury/concussion with post-traumatic stress disorder. According to a company press release, “The study is in collaboration with a multidisciplinary team of scientists and physicians at the University of Miami Miller School of Medicine under the lead of Michael E. Hoffer, M.D., professor of otolaryngology and neurological surgery.”

Mydecine Innovations Group Inc. just announced that its subsidiary Mindleap Health, a digital health platform and the world's-first telemedicine application purpose-built for the psychedelic medicine industry, has filed a provisional patent for its technology platform in both The United States Patent and Trademark Office (USPTO) and the Canadian Intellectual Property Office.

Aikido Pharma Inc. just entered into a letter of intent with Silo Pharma Inc., which will grant to AIkido a worldwide, exclusive sublicense for use of peptide therapy, combined with psilocybin, in the therapeutic treatment of neuroinflammatory disease in cancer patients. 

Seelos Therapeutics Inc. developing therapies for central nervous system disorders and rare diseases, announced today the completion of enrollment of patients in Part 1 of its registrational Proof of Concept study of SLS-002 (intranasal racemic ketamine) for Acute Suicidal Ideation and Behavior (ASIB) in patients with Major Depressive Disorder (MDD).

NeonMind Biosciences (CSE:NEON)(OTC:NMDBF) is Advancing Psilocybin Studies for Obesity

NeonMind Biosciences just announced that on March 4, 2020 NeonMind engaged Philippe Martin as a drug development consultant. Mr. Martin has 20 years of biotechnology and pharmaceutical industry experience developing and commercializing innovative therapies in the fields of immunology, oncology and neurology. NeonMind has engaged Mr. Martin to advise on drug development programs and recommend critical resources for execution, as well as review and evaluate potential drug development paths to advance NeonMind’s two psilocybin drug development programs.

NeonMind’s first drug candidate aims to use synthetic psilocybin to enhance a patient’s ability to alter behaviours that cause weight loss through psychedelic-assisted cognitive therapy. The second drug candidate offers low dose synthetic psilocybin as a treatment to suppress appetite.

“Philippe’s proven ability to successfully bring innovative and transformational therapies to market make him an excellent addition to the NeonMind drug development team,” says Robert Tessarolo, NeonMind’s President and CEO. “Philippe will help us navigate the many decisions we need to make to advance synthetic psilocybin through the rigorous drug development process towards becoming an approved medical therapy.”

Philippe Martin is currently the Chief of Clinical Development & Operations at BioAtla, Inc., a San Diego-based biotech company that develops novel therapies with improved therapeutic index that have the potential to revolutionize cancer treatment. Prior to working at BioAtla, Mr. Martin worked at Celgene for almost 10 years. At Celgene, his leadership role expanded from Executive Director, Project Leadership where he led the development and commercialization of the blockbuster drug OTEZLA, to Corporate Vice President where he oversaw the development and operations of the inflammation and immunology franchise. Prior to his tenure at Celgene, Mr. Martin held multiple positions at Schering-Plough (acquired by Merck) where he managed the anti-TNF alpha collaboration with Johnson & Johnson which included the worldwide development, approval, and commercialization of REMICADE and SIMPONI. Prior to Schering-Plough, Mr. Martin held multiple positions at Aventis & Solvay focusing primarily on Business Development and Sales & Marketing. Mr. Martin received his MS degree in Organic Chemistry from the PARIS VI University in France and Master’s degree in Business Management from E.M. Lyon business school in Lyon, France.

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