Psilocybin could very well be a major game-changer for mental health. For one, just a month after receiving two doses of the psychedelic drug, a small group of 13 people showed a big drop in depressive symptoms, according to a new report in JAMA Psychiatry. While the study was small, the drug is showing promise. After all, as reported by Science News, “Existing antidepressant drugs don’t work well for an estimated 30 to 50 percent of the people who try them; when they do work, the effects can take weeks to kick in. Psilocybin, a compound that can profoundly alter consciousness and perceptions of reality, might be a powerful alternative, says Roland Griffiths, a neuropsychopharmacologist at Johns Hopkins School of Medicine.”
In addition, psilocybin can reportedly promote neuroplasticity (the ability of neural networks in the brain to change through growth and reorganization, as noted by Big Think) in the brains of rats. According to a study in the Journal of Psychopharmacology, “The present study demonstrates that psilocybin rapidly induces gene expression related to neuroplasticity, biased towards the prefrontal cortex, compared to the hippocampus. Findings provide further evidence for the rapid plasticity-promoting effects of psilocybin.” As the psilocybin story continues to evolve, some of the top companies to watch include Revive Therapeutics Ltd. (CSE:RVV)(OTC:RVVTF), Mind Medicine Inc. (OTC:MMEDF), COMPASS Pathways (NASDAQ:CMPS), Field Trip Health Ltd. (CSE:FTRP)(OTC:FTRPF), and Johnson & Johnson (NYSE:JNJ).
Revive Therapeutics Ltd. (CSE:RVV)(OTC:RVVTF) BREAKING NEWS: Revive Therapeutics Ltd., a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce it has entered into an exclusive research collaboration agreement with PharmaTher Inc., a wholly-owned subsidiary of Newscope Capital Corporation (CSE: PHRM) and a specialty psychedelics pharmaceutical company, to accelerate the development of psilocybin in the treatment of cancer and the discovery of novel uses of undisclosed psychedelic compounds.
"Revive continues to be focused on developing novel uses for psilocybin that leverages our proprietary oral thin film delivery technology as a differentiated therapeutic approach," said Michael Frank, CEO of Revive. "We are excited to advance the development of PharmaTher’s recent discovery in the potential of psilocybin to treat certain cancers such as Liver Carcinoma, Melanoma, Breast Neoplasms, Kidney Neoplasms and Acute Myeloid Leukemia. We are also leveraging PharmaTher’s panaceAI discovery AI platform to discover new uses of undisclosed psychedelic compounds to be potentially used with our oral thin film delivery technology and expand our psychedelics drug pipeline."
"We are excited to partner with Revive Therapeutics on our psilocybin cancer program and our psychedelics discovery platform, panaceAI™, to unlock the potential of novel uses of psychedelic compounds in diseases that have sub-optimal or no treatment options,” said Fabio Chianelli, CEO of PharmaTher Inc. “We recently achieved an important milestone in expanding our patent portfolio with the potential of psilocybin to treat certain cancer indications. Our research collaboration with Revive validates our business model in discovering novel uses of psychedelics with panaceAI™ and partnering these discoveries with life sciences companies seeking to expand their product pipeline with psychedelics. We are happy to accelerate Revive’s objective in building a unique psychedelic drug pipeline via the FDA development and approval process.”
The collaboration will give Revive the exclusivity to advance the research of psilocybin in the treatment of cancer and leverage PharmaTher’s panaceAI psychedelic discovery AI platform to screen, identify and evaluate undisclosed psychedelic compounds directed at pre-specified targets for use with Revive’s drug delivery technology.
Other related developments from around the markets include:
Mind Medicine Inc. (OTC:MMEDF), a leading psychedelic medicine biotech company, has received a positive response on its protocol design for a Phase 2a clinical trial evaluating microdoses of LSD in the treatment of adult ADHD from the Swiss and Dutch health authorities. MindMed has also successfully submitted a pre-IND briefing package to the FDA for its Project Lucy, a potential Phase 2b Efficacy Trial evaluating LSD Assisted Therapy in anxiety disorders. In addition, the company has now reached an agreement with University Hospital Basel Liechti Lab to conduct an interim analysis anticipated in Q1 2021 for its Phase 2a clinical trial of LSD assisted therapy for anxiety disorders currently ongoing in Switzerland.
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), one of the leaders in the development and delivery of psychedelic therapies, announced that it is in advanced stages of identifying potential sites for Field Trip Health centers to treat people in Oregon with psilocybin therapies following the passage of Measure 109. Measure 109, which was approved by voters in Oregon on November 3, 2020, requires the Oregon Health Authority to create a licensing system that will create a regulated program for the cultivation of psilocybin-producing mushrooms and the provision of supervised psilocybin therapy, effectively creating the first legal market for psilocybin therapies in North America.
Johnson & Johnson’s (NYSE:JNJ) Phase 3 ENSEMBLE study of the single-dose regimen of JNJ-78436735, the investigational vaccine candidate for the prevention of COVID-19 being developed by the Janssen Pharmaceutical Companies of Johnson & Johnson, continues to enroll and vaccinate study participants. ENSEMBLE is proceeding to enroll up to 60,000 participants worldwide. In addition to the single-dose regimen ENSEMBLE study, Janssen has now initiated the two-dose regimen ENSEMBLE 2 trial. ENSEMBLE 2 is a complementary, planned, pivotal, large-scale, multi-country Phase 3 trial that will study the safety and efficacy of a two-dose regimen of the investigational Janssen vaccine candidate for the prevention of COVID-19 in up to 30,000 participants worldwide. The ENSEMBLE and ENSEMBLE 2 trials will run in parallel.
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