Psychedelics May be Key to Unlocking Severe Mental Health Issues

Psychedelics could be one of the most rewarding opportunities of 2021 and beyond. All as countless studies show how useful they can be in treating mental health issues, such as

obsessive-compulsive disorder, PTSD, opioid addiction, alcoholism, depression, and anxiety.

Johns Hopkins Medicine launched the Center for Psychedelic and Consciousness Research to study compounds like LSD and psilocybin to treat a range of mental health problems, including anorexia, addiction and depression, for example. New York University found psilocybin mushrooms caused a “rapid and sustained” reduction in anxiety and depression in patients with cancer, as reported by the Financial Post. That’s all game-changing news for companies such as NeonMind Biosciences (CSE:NEON)(OTC:NMDBF), Cybin Inc. (NEO:CYBN)(OTC:CLXPF), Mind Medicine Inc. (NEO:MMED)(NASDAQ:MNMD), Field Trip Health Ltd. (TSX:FTRP) (NASDAQ:FTRP), and Numinus Wellness Inc. (TSXV:NUMI)(OTC:LKYSF).

In addition, according to The Guardian, “Increasing numbers of trials have reported steady doses of dazzlingly promising results for people with a risk of psychological issues. A study in the Lancet last year found that a high dose of psilocybin significantly reduces depressive syndromes and markedly improves anxiety for sustained periods. This appears to be due to the fostering of stronger communication between usually disconnected parts of the brain, engendering a higher state of consciousness as people are less constrained and more able to process emotions.”

Look at NeonMind Biosciences (CSE:NEON)(OTC:NMDBF)

NeonMind Biosciences, for example, an integrated drug development and wellness company, announced a strategic alliance with SRx Health Solutions, a leading Canadian specialty healthcare services and medical treatment provider, to establish and operate a network of NeonMind-branded specialty clinics to deliver evidence-backed innovative treatments for a variety of mental health needs. NeonMind will leverage SRx’s nationwide network of over 70 clinics, as well as its operational capabilities, to bring NeonMind’s unique treatment protocols to underserved populations in Canada. The Company expects to select and announce its first clinic location within the SRx network by the end of this calendar year, with a launch in 2022.

Over the past 11 years, SRx has been a trusted service provider in the delivery of specialty patient healthcare across Canada. Under the terms of the agreement, NeonMind and SRx will collaborate to prioritize specialty mental health clinic locations within SRx’s countrywide network of clinics. The alliance enables NeonMind to focus on programmatic design and delivery. Available treatment options will include psychedelic modalities and other newer treatments for mental health. Following the first clinic opening, the Company expects to launch additional clinic locations throughout the course of 2022, continuing to expand locations and services in 2023 and beyond.

“We are proud to partner with SRx as we build out our specialty clinics division,” said Robert Tessarolo, President & CEO of NeonMind. “Establishing these specialty clinics is part of our multi-pronged strategy to bring the therapeutic benefits of psychedelics to patients in need, whether through our specialty clinics for the treatment of neuropsychiatric disorders or with NeonMind’s novel obesity treatments currently in development. SRx’s extensive clinic infrastructure and best-in-class operations will allow us to quickly build out our specialty clinics in a capital-sparring manner to offer patients these innovative treatments in a traditional clinical setting.”

Commenting on the alliance, Mr. Brock Clancy, SRx Vice President of Patient Services and Operations, said, “Recognizing a crucial need for increased support and innovation in mental health treatments, our team has been actively assessing the rapid growth of the market and determining how best to enter this treatment segment. NeonMind’s strategy in this area is unique and compelling, with their initial focus on utilizing already established treatments such as ketamine, esketamine and neurostimulation, while adding additional treatment modalities as they are approved, including psychedelics. Bringing in a partner like NeonMind aligns with our own experiences on how best to deliver specialty treatments while leveraging our existing capabilities and infrastructure. I am excited by this opportunity to work collaboratively with NeonMind to build out and evolve the treatment infrastructure available for interventional psychiatry and psychedelics.”

Other related developments from around the markets include:

Cybin Inc., a biopharmaceutical company focused on progressing “Psychedelics to Therapeutics”, announced that the Company has been granted a Schedule I manufacturing license from the U.S. Drug Enforcement Agency (“DEA”). The DEA license is a federal requirement for any investigators who intend to study, produce, analyze or otherwise work with Schedule I controlled substances. The DEA license is for the Company’s research lab in the Boston area. The license will allow the Company to further become a hub for innovation and drug discovery. Previously, the Company conducted much of its research and development (“R&D”) work through globally licensed research organizations in the U.S., Canada, and the U.K., and through certain in-house capabilities. With the DEA license, the Company will be able to vastly expand its internal R&D capabilities to support innovative drug discovery and delivery involving Schedule I compounds.

Mind Medicine Inc., a leading biotech company developing psychedelic-inspired therapies, is pleased to announce an expansion of its pipeline with the launch of a program to develop R(-)-MDMA for the treatment of social anxiety and functioning in diagnoses that include Autism Spectrum Disorder (ASD). This program represents a significant expansion and diversification of MindMed’s pipeline and furthers the Company’s mission to bring innovative products to benefit patients and address unmet medical needs.

Field Trip Health Ltd., a global leader in the development and delivery of psychedelic therapies, announced the opening of their Seattle clinic, their sixth in the United States, along with the recent opening of a location in Fredericton, NB, and the imminent opening of a location in Vancouver, BC. As the largest provider of psychedelic-assisted therapies globally, Field Trip continues to distinguish itself as a leader in the emerging psychedelic industry with continued expansion and growing demand.

Numinus Wellness Inc., a leader in psychedelics-focused mental healthcare, finalized the study design and protocol for a Phase 1 clinical trial on a naturally derived Psilocybin extract, previously announced on April 26, 2021. This major milestone advances Numinus' investigation of its first proprietary psychedelic product, which was developed using a patent-pending technology submitted to the US Patent and Trade Office. Numinus Bioscience has successfully developed a natural extract, PSYBINAfrom Psilocybe species using IP technology related to the production of extracts and downstream derivatives and formulations from Psychoactive Species Cultured Mycelium. The Phase I clinical trial, "A Healthy Adult Investigation Observing Endpoint Measures of Safety and Relative Bioavailability of Psilocybin in comparison to a Psilocybe extract: a fasting, blinded, crossover study" (HOPE), will ascertain the safety and bioavailability of the subsequent formulation PSYBINA RXTM developed to stably deliver Psilocybin and other synergistic compounds.

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