Canadian drug manufacturer and formulator, Optimi Health Corp, has signed a long-term distribution agreement with Mind Medicine Australia to supply its MDMA formulation, OPTI-MHCL, and GMP psilocybin capsules. Reunion Neuroscience has filed a lawsuit against fellow clinical-stage biopharma Mindset Pharma alleging that it copied its compound and submitted its exact composition to the Patent Office. Reunion seeks to add its Chief Scientific Officer, Nathan Bryson, as an inventor to Mindset’s patent. The psychedelics industry is continuing to grow, with companies making strides in clinical trials and patent applications for unique psychedelic-based compounds. Terran Biosciences has published an international patent application covering novel prodrugs of psilocin, while Cybin announced positive safety data from clinical trials of its proprietary deuterated psilocybin analog for the treatment of major depressive disorder and a proprietary deuterated DMT molecule for the treatment of generalized anxiety disorder. Finally, Lucy Scientific Discovery has made its first commercial sale of psilocybin to the Center for Psychedelics Research at the Hadassah Medical Center at Hebrew University in Jerusalem, marking a key operational milestone for the company.
Monthly Psychedelics Industry Roundup: March 2023
The Pulse is a monthly psychedelics industry roundup from Technology Networks and Analytical Cannabis. It highlights the most significant psychedelic industry news from the past month, including important announcements, pre-clinical work, and the latest updates from groundbreaking psychedelic clinical trials.
Field Trip Health Closes Five Clinics and Enters Creditor Protection
Field Trip Health, one of the boldest forays into commercial ketamine clinics, has announced the closure of five of its nine ketamine-assisted psychotherapy clinics and entered creditor protection ahead of exploring a possible sale. The Toronto-based company offered online and in-person therapy options but cited “financial constraints” as the reason for shuttering several clinics.
Additionally, the company announced a number of layoffs and the resignation of CEO and Chairman Ronan Levy. The company’s hybrid therapy offerings, which previously relied on looser regulations around ketamine teletherapy, were paused in the wake of new rules that were likely to reduce access for potential clients.
Beckley Psytech Receives FDA Approval for Phase IIb Study
Beckley Psytech has announced that it has received investigational new drug (IND) approval for a Phase IIb study of its lead compound BPL-003 from the US Food and Drug Administration (FDA). BPL-003 is a synthetic, intranasal formulation of the psychedelic compound 5-MeO-DMT. In the new study, Beckley intends to assess the effects of a single medium or high dose of the compound in contrast to a sub-perceptual dose. The trial will take place in patients who are not taking concomitant antidepressants. The trial is notable as the first to receive FDA IND approval for a 5-MeO-DMT treatment.
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Psychedelic Industry Updates: February 2023
Here are the latest updates in the psychedelic industry from February 2023:
Clearmind Medicine Files Three Provisional Patent Applications
Clearmind Medicine has filed three provisional US patent applications for unique combinations of future psychedelic-based compounds as part of its ongoing collaboration with SciSparc. These patent applications refer to novel proprietary combinations of MDMA, ibogaine, and ketamine, each in combination with palmitoylethanolamide (PEA), the active ingredient of SciSparc’s proprietary CannAmide™.
Terran Biosciences Publishes International Patent Application
Terran Biosciences has announced the publication of an international patent application covering novel prodrugs of psilocin, a metabolite of psilocybin and the active compound in psychedelic mushrooms. The company aims to accelerate the action of psilocybin-assisted psychotherapy, which presently relies on six-hour-plus dosing sessions. The prodrugs designed by Terran have even longer durations of activity than psilocybin for extended therapy sessions.
Positive Data from Cybin’s Clinical Trials
Cybin, a biopharmaceutical company, has announced progress updates for its two lead clinical development programs: a Phase I/IIa clinical trial of CYB003, its proprietary deuterated psilocybin analog for the treatment of major depressive disorder (MDD), and a Phase I trial of CYB004, a proprietary deuterated DMT molecule being developed for the treatment of generalized anxiety disorder. Cybin announced positive safety data from both studies and showed encouraging efficacy data from the CYB003 trial.
Lucy Scientific Discovery Makes First Commercial Sale of Psilocybin
Canadian psychedelics manufacturing firm Lucy Scientific Discovery has made its first commercial sale of psilocybin to the Center for Psychedelics Research at the Hadassah Medical Center at Hebrew University in Jerusalem. The sale marks a key operational milestone for the company and strengthens its relationship with the Medical Center’s researchers, to whom the company has already delivered DMT and 5-MeO-DMT in previous shipments.
Stay tuned for the latest updates in the psychedelics industry.
Psychedelic Industry Updates: Distribution Agreement and Lawsuit
Here are the latest updates in the psychedelic industry:
Optimi Health Corp Signs Distribution Agreement with Mind Medicine Australia
Canadian drug manufacturer and formulator Optimi Health Corp has signed a long-term distribution agreement with Mind Medicine Australia to supply its MDMA formulation, OPTI-MHCL, and GMP psilocybin capsules. Optimi aims to begin supply to Australia by the deadline of July 1, 2023.
Reunion Neuroscience Files Lawsuit Against Mindset Pharma
Clinical-stage biopharma Reunion Neuroscience has filed a lawsuit against fellow biopharma Mindset Pharma. The suit alleges that Mindset copied Reunion’s compound, RE104, and submitted its exact composition to the Patent Office. Reunion seeks to add its Chief Scientific Officer, Nathan Bryson, as an inventor to Mindset’s patent. Stay tuned for further developments in this psychedelic lawsuit.
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