The psychedelic story is coming back strong. All after Sen. Cory Booker tweeted, “Massive breakthroughs in medical studies with psilocybin and MDMA are showing strong promise for patients with PTSD, trauma, addiction, and serious depression. In the past, the failed War on Drugs has criminalized people who used these drugs safely for treatment.” He would also tweet, “With my Right to Try bill, I am hoping we can quickly make these safe and effective treatments available to help people in need.” If we see progress, this could have the potential to be big for companies, such as Silo Wellness (CSE: SILO) (OTCQB: SILFF), Cybin Inc. (NEO: CYBN) (NYSE: CYBN), Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF), Field Trip Health & Wellness Ltd. (TSXV: FTHW) (OTC: FTHWF), and Compass Pathways Inc. (NASDAQ: CMPS).
Helping, the US FDA appears to be supportive of psilocybin research. In 2019, for example, the agency recognized psilocybin as a potentially “breakthrough therapy” for depression. Two, clinical studies Johns Hopkins Medicine, and New York University appear to already be showing positive results with psychedelics.
Look at Silo Wellness (CSE: SILO) (OTCQB: SILFF) for example.
Silo Wellness, Oregon’s only publicly traded psychedelics company, is pleased to announce it has executed a binding term sheet for a joint venture with New Frontier Ranch in the majestic Green Springs area of Jackson County Oregon, east of Ashland, pending the results of the opt-out ballot measure in the upcoming November 8th election. New Frontier Ranch is a 960-acre property that can potentially accommodate hundreds of guests at a time between the existing log cabins and court-approved campsites.
A one-of-kind destination guest recreation property among Oregon’s restrictive and complex land use laws
“This property has an abundance of water rights in this drought-stricken portion of our beautiful state and has court-approved camping spots with room to expand due to a special court decree grandfathering in these property rights years ago,” stated Silo Wellness founder and CEO Mike Arnold, an Oregon attorney. “Under Oregon’s tough rural land use laws, this property is truly a gem that could allow for scaling for psychedelic retreats rather quickly at a lower price point. Absent full legality and total removal of the dead hand of the government – which is still necessarily present in this emerging market – scaling is the only way to make this industry affordable while ensuring client safety.”
“My vision for this property is as a sacred sanctuary for holistic health and wellness,” stated David Kaplan, New Frontier owner-operator. Mr. Kaplan has over 45-years’ experience in the CPG space involving diet and nutrition, as well as the yoga and meditation space. “This property can truly be the marvel of holistic healing for the mind, body, and soul. Mushroom therapy is just one potential component of a much larger plan for rejuvenation and wellness. Living on this property for several years, I see so much potential for the land to be an eco-village destination location totally sustainable with organic agriculture, energy and building materials. The ranch has 287 days of year of sun per year and the most water in the area with ample wind and wood resources.”
The unique property rights history of the ranch were solidified on May 17, 1976, when the Circuit Court for the State of Oregon for Jackson County approved a decree grandfathering in what would now be considered a “destination resort” under today’s rules, which are nearly impossible to acquire in Jackson County and much of the rest of the state of Oregon. This historic approval is highly unique. According to the property’s land use consultants, there is not another like it anywhere in the state of Oregon whereby a grandfathered-in resort is allowed to continue to develop.
In 2013 the decision went back to court yet again, ultimately to result in a non-expiring ranch resort. According to the site plan there are 34 existing sites which include 16 teepees, 6 wall tents and 12 additional sites. This would allow for an additional 26 sites to be developed to reach the total 60 allowable campground spaces per the decree allowing potentially hundreds of guests at a time. The decree, however, says that the campground can have potable water, bathrooms, showers and laundry facilities including washers and dryers and does not specify a limit on the number of these amenities that can be provided.
A destination lodge, including overnight guest accommodations, could also be constructed within the designated village boundary. It is not stated in the court decree that there is a limitation on the number of rooms that can be allowed.
Other related developments from around the markets include:
Cybin Inc., a biopharmaceutical company focused on progressing Psychedelics to Therapeutics, and The Chopra Foundation, a not-for-profit organization dedicated to improving health and well-being founded by Dr. Deepak Chopra, join everyone in recognizing World Mental Health Day. The two organizations continue to work toward the research and education of psychedelic-based therapies and their role in enhancing well-being and consciousness. According to the World Health Organization (“WHO”), over 900 million people are affected by mental illness around the world. The pandemic has increased the number of individuals that are affected by different forms of mental illness. In 2021 the WHO released data that over 280 million people were affected by depression.
Tryp Therapeutics Inc., a clinical-stage biotechnology company focused on developing psilocybin-based compounds for diseases with unmet medical needs, today announced that the World Intellectual Property Organization (WIPO) published their international patent application (PCT/IB2022/052347) covering the intravenous administration of psilocybin and psilocin. The PCT application, titled “Improved Methods For The Use of Psychedelics” expands and strengthens the IP related to the Company’s development of TRP-8803, an IV formulation of psilocin, which will be administered in conjunction with psychotherapy. The patent application includes a unique and proprietary formulation and delivery system to enhance the positive effects of psilocybin and in particular psilocin, while markedly reducing the limitations of psilocybin dosed through other routes of administration, including oral, nasal and sublingual.
Field Trip Health & Wellness Ltd., the global leader in the development and delivery of psychedelic therapies, is pleased to announce that a new version of its award-winning app for psychedelic guidance is now available for download on the App Store and Google Play. Formerly known as ‘Trip’ and now known simply as ‘Field Trip’, the app, which has been downloaded over 80,000 times, includes a number of new features, such as offline access to music and meditations, higher bit-rate streaming, access to Field Trip’s therapeutic programs, and a new user flow. In addition, Field Trip will soon include six exclusive tracks from Wavepaths, the global leader in music solutions for psychedelic therapy. These tracks were exclusively developed for Field Trip’s in-person psychedelic-assisted therapies, and will be made available through the app in the coming weeks.
Compass Pathways, a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, announced the Phase 3 pivotal program design for COMP360 psilocybin therapy in treatment resistant depression (TRD) during a virtual Capital Markets Day. The session, attended by members of COMPASS Pathways’ executive leadership and key opinion leaders, included a review of the TRD treatment landscape as well as COMPASS’ clinical care and digital strategy, patient/market access and commercial model, and broader development pipeline. COMPASS’ program will be the first ever Phase 3 program of psilocybin therapy globally, and follows positive results from its Phase 2b study in treatment-resistant depression, presented at the American Psychiatric Association annual meeting in May 2022. The Phase 3 program is composed of three clinical trials, two pivotal trials and one long-term follow-up, and is expected to commence by the end of 2022.
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. Silo Wellness 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 Silo Wellness. Please click here for disclaimer.
Contact Information:
Ty Hoffer
2818047972
