The psilocybin story could heat up in New Year 2021. For one, the US FDA appears to be supportive of psilocybin research. Two, clinical studies from institutions such as Johns Hopkins Medicine, and New York University appear to be showing positive study results using psychedelics. Three, as noted by NPR, a study from JAMA Psychiatry recently found that psilocybin “worked better than the usual antidepressant medications.” Even researchers from the University of California David found that micro-dosing with psychedelic drugs for a prolonged period of time showed promise.
In addition, state and local governments are also just beginning to accept its usage. Oregon, for example, became the first state to officially decriminalize the possession of psychedelics, joining Denver, Oakland, and Santa Cruz. Better still, psilocybin could be used to help treat issues such as autism spectrum disorder, depression, anxiety, addiction, obsessive-compulsive disorder, and PTSD. As the story gains momentum, some of the top companies to watch include
Nova Mentis Life Science Corp.
(CSE:NOVA)(OTCPK:LIBFF),
Mind Medicine Inc.
(NEO:MMED)(OTC:MMEDF),
COMPASS Pathways
(NASDAQ:CMPS),
Numinus Wellness Inc.
(TSXV:NUMI), and
HAVN Life Sciences
(CSE:HAVN).
Nova Mentis Life Science Corp.
(CSE:NOVA)(OTCPK:LIBFF)
BREAKING NEWS
:
Nova Mentis Life Science Corp.
is pleased to announce that it has added two additional psychedelic compounds to its drug portfolio. Nova has contracted with its U.S. partner to begin manufacturing the active pharmaceutical ingredients (API), Baeocystin and Aeruginascin. Nova is currently developing C-GMP API psilocybin at its U.S. partner’s facility which has highly trained quality control staff on site and certifies all release testing prior to human studies. Per contractual agreements, Nova has ownership of the API Drug Master Files, which will be used for regulatory submission prior to commencing human clinical trials.
Baeocystin is an analog of psilocybin and is found in most psilocybin mushrooms along with other minor tryptamine derivatives. Aeruginascin is also a tryptamine derivative and an analog of psilocybin, but it occurs naturally within a different mushroom, Inocybe aeruginascens. The pharmacological effects of both of these compounds are not well understood and anecdotal usage reports reveal different euphoric experiences.
It is theorized that Psilocybin and mushroom tryptamine derivatives, such as Baeocystin and Aeruginascin, when utilized in concert, may produce what is referred to as an “entourage effect”. This theory was proposed for cannabis compounds but essentially is applicable to other compounds within natural foods that work together to create unique effects and benefits.
Pending final production of the additional API compounds, NOVA plans to test their efficacy and potential “entourage effect” related therapeutic benefits in the autism spectrum disorder (ASD) preclinical rat model that was designed by Dr. Viviana Trezza at Roma Tre University, Rome, Italy.
“The availability of greater than 95% pure synthetic Psilocybin, Baeocystin and Aeruginascin will allow the creation of unique combinatory formulations with potential therapeutic applications to various subsets of ASD,” stated Marvin S. Hausman MD, Chairman of Nova’s Scientific Advisory Board. “Furthermore, the availability of these compounds will allow our collaborative scientific chemists to develop technology to deliver our proprietary formulations to organ systems outside of the brain. Are there tryptamine related therapeutic receptors in the small intestine, colon and liver that need to be discovered?”
Other related developments from around the markets include:
Mind Medicine Inc.
(NEO:MMED)(OTC:MMEDF) is pleased to announce that further to its
previously announced offering
on December 14 and December 15, 2020, it has filed a preliminary short form prospectus with the securities commissions or similar authorities in each province of Canada, other than Québec. Pursuant to the underwriting agreement among the Company, Canaccord Genuity Corp. and Eight Capital, the Underwriters have agreed to purchase 18,200,000 units of the Company, on a “bought deal” basis, at a price per Unit of CAD$4.40 for gross proceeds of CAD$80,080,000.
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.”
Numinus Wellness Inc.
(TSXV:NUMI), a company creating an ecosystem of solutions centred on the research, development, and delivery of safe, evidence-based, accessible psychedelic-assisted psychotherapies, has completed the
first legal extraction of
Psilocybe
mushrooms
in Canada by a public company for research and development purposes. This follows Numinus’ successful completion of the cultivation and harvest of the first legal flush of
Psilocybe
mushrooms at Numinus Bioscience, the Company’s 7,000 square foot analytics and research laboratory. “Completing the first legal extraction of
Psilocybe
mushrooms in Canada is a critical next step to providing a natural product for safe, evidence-based psilocybin-assisted psychotherapies to those in need,” said Payton Nyquvest, CEO, Founder, and Chairman. “Numinus continues to be a vanguard of positive change for the industry, and this announcement demonstrates our ability to deliver yet another first.”
HAVN Life Sciences
(CSE:HAVN), a biotechnology company pursuing standardized extraction of psychoactive compounds, the development of a full range of natural healthcare products, and innovative mental health treatment, is pleased to announce a
product listing agreement for a range of Havn Life’s natural health products
, which will be sold in select Nesters Markets in British Columbia. The range of products will hit shelves across British Columbia in Q1/Q2 of 2021. This is a major milestone for Havn Retail, enabling us to reach our goal of launching our initial product line in the market for early 2021. Nesters Market is recognized across British Columbia as a provider of high quality items and has been an early adopter of many new product lines, Havn Life’s formulations are bioavailable and naturally-derived and are created with human optimization in mind. The products have been thoughtfully formulated with adaptogens and antioxidants to aid in overall brain health.” said Tim Moore, CEO of Havn Life.
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