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 to authorized psychiatrists in Australia. On the other hand, Reunion Neuroscience has filed a lawsuit against Mindset Pharma for copying its compound and submitting its exact composition to the Patent Office. Reunion seeks to add its Chief Scientific Officer as an inventor to Mindset’s patent.
Welcome to The Pulse, a monthly roundup of the most significant news in the psychedelics industry brought to you by Technology Networks and Analytical Cannabis. Here, we’ll cover everything from important announcements to groundbreaking clinical trials and pre-clinical work.
Field Trip Health
One of the most significant news items of the past month was the announcement by Field Trip Health that it would be closing five of its nine ketamine-assisted psychotherapy clinics. Based in Toronto, the company had offered both online and in-person therapy options but cited “financial constraints” as the reason for the closures. Additionally, the company has entered creditor protection ahead of exploring a possible sale. The company also announced layoffs and the resignation of CEO and Chairman Ronan Levy. This comes after the new rules were implemented that are likely to reduce access for potential clients.
Beckley Psytech
In other news, Beckley Psytech has received investigational new drug (IND) approval from the U.S. Food and Drug Administration (FDA) for a Phase IIb study of its lead compound, BPL-003. BPL-003 is a synthetic, intranasal formulation of the psychedelic compound 5-MeO-DMT. Beckley intends to assess the effects of a single medium or high dose of the compound in contrast to a sub-perceptual dose in patients who are not taking concomitant antidepressants. This trial is notable as the first to receive FDA IND approval for a 5-MeO-DMT treatment.
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Here are the latest updates in the psychedelics industry:
Clearmind Medicine
Clearmind Medicine has filed three provisional U.S. patent applications for unique combinations of future psychedelic-based compounds as part of its ongoing collaboration with SciSparc. The 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™. This announcement adds to six other patents filed through the collaboration.
Terran Biosciences
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. Terran aims to use these novel compounds to accelerate the action of psilocybin-assisted psychotherapy, which currently relies on six-hour-plus dosing sessions. Terran has also designed prodrugs with even longer durations of activity than psilocybin for extended therapy sessions.
Cybin
Biopharmaceutical company Cybin has announced progress updates for its two lead clinical development programs. Cybin reported positive safety data from both studies and showed encouraging efficacy data from the 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.
Lucy Scientific Discovery
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. CEO Chris McElvany said that the sale marks “a key operational milestone.” The deal strengthens Lucy’s relationship with the Medical Center’s researchers, to whom the company has already delivered DMT and 5-MeO-DMT in previous shipments.
Stay updated on the latest news in the psychedelics industry by subscribing to our Breaking Science Newsletter.
Here are the latest updates in the psychedelics industry:
Optimi Health Corp
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, when authorized psychiatrists can begin prescribing MDMA and psilocybin for specific mental health conditions through the country’s newly approved Authorised Prescriber’s Scheme.
Reunion Neuroscience
Reunion Neuroscience has filed a lawsuit against fellow clinical-stage 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 to see how this latest psychedelic lawsuit develops.
Stay updated on the latest news in the psychedelics industry by subscribing to our Breaking Science Newsletter.
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