Psychedelics

Indiana’s Pioneering Psilocybin Research Bill Awaits Governor’s Approval

LOS ANGELES- In a groundbreaking legislative move, Indiana stands on the precipice of advancing psilocybin research, following the final approval of a bill aimed at exploring the substance's potential in treating various medical conditions. The bill, now awaiting Governor Eric Holcomb's signature, could usher in a new era of mental health treatment options, particularly benefiting veterans and first responders. Senate Bill 139, championed by Senator Ed Charbonneau, successfully navigated the complexities of legislative procedures, integrating its objectives into House Enrolled Act 1259. The proposed legislation seeks to establish a therapeutic psilocybin research fund under the Indiana Department of Health, providing financial backing for scientific inquiries into the use of psilocybin ...

March 15th, 2024|

Cybin Eyes $150 Million Boost Through Private Placement to Propel Psychedelic Drug Development

Cybin Inc., a firm at the forefront of psychedelic drug development, announced its plan on Wednesday to secure approximately $150 million in funding through the private placement of over 348 million common shares. This strategic financial maneuver aims to bolster the company's operations and expedite clinical trials for its promising drug candidate, CYB003. In a press release, Cybin revealed that the funds would be allocated to support "certain Phase 3 drug development activities for CYB003, working capital, and general corporate purposes." The company, still navigating the pre-revenue phase, focuses on the development of CYB003, a psilocybin-based drug currently undergoing testing for the treatment of major depressive disorder (MDD). Despite its ...

March 14th, 2024|

atai Life Sciences Advances VLS-01, A Novel DMT-Based Treatment

LOS ANGELES- atai Life Sciences a biotechnology company specializing in mental health treatments, is making strides in the development of a groundbreaking approach to treating treatment-resistant depression. Dr. Srinivas Rao, the Chief Scientific Officer, recently shed light on the company's promising development candidate, VLS-01, in a discussion with Proactive’s Stephen Gunnion. VLS-01 is a novel formulation of DMT, the psychoactive molecule in ayahuasca, tailored to address the challenges of treatment-resistant depression. Rao emphasized the innovative delivery mechanism of VLS-01 — an oral transmucosal film, similar to a dissolvable strip akin to Listerine, designed to dissolve in the mouth over 20 minutes. This method represents a significant leap forward, offering a ...

March 13th, 2024|

New Mexico Advances Psilocybin Research with Memorial Legislation

-LOS ANGELES- In a significant move toward exploring alternative therapeutic treatments, New Mexico Governor Michelle Lujan Grisham has signed Senate Memorial 12 (SM-12), initiating a comprehensive study on the therapeutic potential of psilocybin, the psychoactive compound found in certain mushrooms. The memorial, distinct from typical bill proposals, mandates the New Mexico Department of Health and the University of New Mexico to investigate psilocybin's efficacy and outline regulatory frameworks for a potential therapeutic program. This legislative action stems from an acknowledgment of the state's escalating mental health crisis, marked by a troubling rise in suicides, particularly among veterans and first responders, and the nation-leading rates of drug overdoses and alcohol-related deaths. ...

February 28th, 2024|

Numinus Wellness Secures $6 Million in Public Offering to Fuel Psychedelic-Assisted Therapy Initiatives

LOS ANGELES- Numinus Wellness, a Vancouver-based healthcare company specializing in the innovative field of psychedelic-assisted therapies, has announced the successful completion of a significant financial milestone. Through a "bought deal" public offering, the company has raised $6 million, a move that positions it strongly within the burgeoning sector of mental health care. Financial Details and Strategic Impact The transaction saw the sale of 50,000,000 units at $0.12 each, precisely matching the stock's current market price. Each unit comprises a common share and a warrant, the latter offering the option to purchase an additional common share at $0.18 within the next 24 months. This infusion of capital is earmarked for supporting ...

February 22nd, 2024|

FSD Pharma Announces Market Offering Agreement to Fund Research and Development

NEW YORK- FSD Pharma a biopharmaceutical company focused on developing a diverse portfolio of innovative assets and biotechnological solutions, has unveiled a strategic market offering agreement with H.C. Wainwright & Co. LLC. This collaborative effort paves the way for FSD Pharma to potentially offer and sell up to $11,154,232 in Class B subordinate voting shares at its discretion, marking a significant step in the company's financial and developmental strategy. Under the terms of the agreement, sales of the Class B shares are set to occur at prevailing market prices, providing FSD Pharma with a flexible mechanism to raise capital as needed. H.C. Wainwright & Co. LLC is set to receive ...

February 21st, 2024|

Clearmind Medicine Inc. Advances Psychedelic Therapeutics with New Patent Applications

NEW YORK– Clearmind Medicine Inc. a biotech firm dedicated to the discovery and development of novel psychedelic-derived therapeutics, has taken significant steps to enhance its intellectual property (IP) portfolio through the submission of three patent applications under the international Patent Cooperation Treaty (PCT). This strategic move, in collaboration with SciSparc Ltd. (Nasdaq: SPRC), a clinical-stage pharmaceutical company specializing in central nervous system disorders, underscores the companies' commitment to advancing the field of psychedelic medicine. The patent applications encompass innovative proprietary combinations of lysergic acid diethylamide (LSD), psilocybin, N,N-dimethyltryptamine (DMT), and Palmitoylethanolamide (PEA), the active ingredient in SciSparc’s proprietary CannAmide™. Initially filed as provisional patents with the United States Patent and ...

February 20th, 2024|

MindBio Therapeutics Announces Completion of Groundbreaking Phase 2a LSD Microdose Trial

LOS ANGELES- In a significant advancement for psychiatric medicine, MindBio Therapeutics Corp., a pioneering biopharmaceutical company, has announced the successful completion of its Phase 2a clinical trial, marking a pivotal moment in the development of treatments for Major Depressive Disorder (MDD). This trial is notably the world's first to receive regulatory approval for the take-home use of a psychedelic medicine, specifically a titratable form of Lysergic Acid Diethylamide (LSD) known as MB22001, designed for microdosing. The open-label trial aimed to identify clinically significant changes in depression severity, utilizing the globally recognized Montgomery Asberg Depression Rating Scale (MADRS). The primary endpoint for MB22001’s success in treating depression was marked by improvements ...

February 18th, 2024|

Silo Pharma Advances in Ketamine-Based Treatment for Chronic Pain

LOS ANGELES— In a significant stride toward innovative treatment for chronic pain conditions, Silo Pharma, Inc. (Nasdaq: SILO), a biopharmaceutical company in its developmental stage, announced promising developments in its ketamine implant, SP-26. The company, known for its work on novel formulations and drug delivery systems for both traditional therapeutics and psychedelic treatments, is targeting fibromyalgia with this new approach. The SP-26 project has reached a critical milestone in its pre-clinical research phase, focusing on a time-released, dose-controlled formulation of ketamine. The study involves analytical testing services alongside small batch proof-of-concept extrusion trials. These trials are essential for determining the drug's release and stability over time. In a recent series ...

February 15th, 2024|

PharmaDrug Inc. Completes Private Placement to Bolster Corporate Initiatives

LOS ANGELES- a specialty pharmaceutical company, announce the successful completion of its previously disclosed non-brokered private placement, raising total gross proceeds of $326,000. In this offering, the company issued 6,520,000 units at a purchase price of $0.05 per unit, resulting in aggregate gross proceeds of up to $326,000. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each full warrant entitles the holder to acquire an additional common share at an exercise price of $0.10 until February 8, 2026. The proceeds from this private placement will be allocated towards general corporate purposes, supporting the company's ongoing operations and ...

February 13th, 2024|

Clearmind Medicine Secures Patent in China

LOS ANGELES- In a significant advancement for the field of psychedelic-derived therapeutics, Clearmind Medicine, a biotechnology firm with operations in Tel Aviv, Israel, and Vancouver, Canada, has been granted a patent in China for a novel treatment targeting binge behaviors. The treatment is based on a specific chemical compound known as a primary amine aminoindan, expanding the scope of potential therapies in the burgeoning area of psychedelic research. This recent patent approval underscores Clearmind's strategic endeavor to fortify its intellectual property (IP) portfolio in a competitive and rapidly evolving sector. The company, listed on both NASDAQ (CMND) and the Canadian Securities Exchange (CSE: CMND), emphasizes its commitment to pioneering in ...

February 7th, 2024|

MindBio Therapeutics Advances in Psychedelic Research

LOS ANGELES- MindBio Therapeutics Corp. is on the brink of completing a pivotal Phase 2a clinical trial, marking a significant milestone in the study of psychedelic substances for therapeutic purposes. The trial focuses on the use of MB22001, MindBio's proprietary titratable form of LSD, in microdoses for the treatment of Major Depressive Disorder (MDD). This trial represents a groundbreaking step in the exploration of psychedelics, with MindBio leading the charge as the only company globally to conduct clinical trials approved for take-home use of LSD in microdoses. The final participant in the trial is expected to complete dosing around February 14, 2024, with top-line results anticipated to be announced in ...

February 6th, 2024|

Hawaii Introduces Bill to Regulate Psilocybin Therapy Amid Growing Interest in Psychedelic Medicine

LOS ANGELES-  In an innovative step towards mental health treatment, Hawaii lawmakers have introduced legislation aimed at creating a regulatory framework for the therapeutic use of psilocybin. The proposed Senate Bill 3019, introduced by Sen. Chris Lee on January 24, alongside a companion House Bill 2630 by 14 representatives, seeks to protect patients opting for psilocybin therapy for conditions such as post-traumatic stress disorder, end-of-life anxiety, addiction, and more, without fully legalizing the substance. The legislation outlines qualifications for individuals seeking psilocybin therapy, including being 21 or older, holding a high school diploma or equivalent, being a resident of Hawaii, and completing an approved psychedelic integration training program. Eligible conditions ...

February 6th, 2024|

Arizona Embarks on Psychedelic Therapy Frontier with Psilocybin Service Center Legislation

LOS ANGELES- In a significant step towards the integration of psychedelic therapy into mainstream healthcare, Arizona is positioning itself at the forefront of a growing movement. Bipartisan lawmakers have introduced groundbreaking legislation aimed at legalizing psilocybin service centers within the state, marking a bold expansion beyond current research efforts into the therapeutic applications of psychedelics. This legislative initiative, spurred by a coalition of nine bipartisan state legislators, seeks to authorize the establishment of licensed facilities where Arizonans can undergo psilocybin therapy under medical supervision. This move is in alignment with a growing trend across the United States, where the medicinal benefits of psychedelics are increasingly recognized and legislated. The proposed ...

February 5th, 2024|

Silo Pharma Announces Strategic Focus on Psychedelic and Traditional Therapeutics for 2024

LOS ANGELES- Silo Pharma, Inc., a developmental stage biopharmaceutical company, has outlined a strategic focus for its clinical pipeline in 2024, emphasizing the advancement of novel formulations and drug delivery systems for both traditional therapeutics and psychedelic treatments. The company is set to prioritize the development of four innovative drugs targeting critical health areas: mental health, chronic pain, and neurology. Eric Weisblum, CEO of Silo, announced the company's intent to submit a Pre-Investigational New Drug Application (IND) for its post-traumatic stress disorder (PTSD) therapeutic, SPC-15, to the U.S. Food and Drug Administration (FDA) by the end of the second fiscal quarter in 2024. This move is in collaboration with Columbia ...

February 5th, 2024|

Filament Health Corp. Gains FDA Approval for Psilocybin Clinical Trials

LOS ANGELES- The U.S. Food and Drug Administration (FDA) has recently granted an investigational new drug application to Vancouver-based Filament Health Corp. (OTCQB: FLHLF) (NEO: FH) for its botanical psilocybin substance, PEX010. This approval marks a significant stride for Filament, enabling the firm to conduct clinical trials in the United States aimed at treating substance use disorders. The green light from the FDA follows Filament's ongoing research efforts in Canada, where PEX010 is currently under investigation for its potential in treating opioid use disorder (OUD). Benjamin Lightburn, CEO of Filament Health, expressed optimism about the development, stating, “We believe that botanical PEX010 could offer a solution.” He emphasized the importance ...

January 31st, 2024|

Psyence Biomedical Merges with Newcourt, Listing and Raising US$10 Million for Clinical Trials

LOS ANGELES- Psyence Biomedical Ltd. a subsidiary of Psyence Group Inc, has successfully completed a merger with Newcourt Acquisition Corp (“Newcourt”), a special purpose acquisition company. This business combination, which received approval from Newcourt’s stockholders on January 18, 2024, will introduce Psyence Biomed to the NASDAQ stock exchange under the new ticker symbols “PBM” for common stock and “PBMWW” for warrants, starting January 26, 2024. Concurrent with the merger, Psyence Biomed has entered into a securities purchase agreement, aiming to raise up to US$10 million. This capital will be raised through the issuance of up to four senior secured convertible notes in a deal with a US-based investment firm. These ...

January 28th, 2024|

Broad Support in Canada for Psilocybin Use in Palliative Care, New Study Reveals

LOS ANGELES — A recent Canadian study, published in the medical journal Palliative Medicine, has revealed significant public support for the use of psilocybin, a psychedelic compound, in treating existential dread among end-of-life patients. Conducted by a team led by Michel Dorval, a researcher at CHU de Québec-Université Laval Research Center and a professor at Université Laval’s Faculty of Pharmacy, the study highlights a growing acceptance of psychedelic-assisted therapy in palliative care. The study, carried out between November and December 2022, surveyed 2,800 Canadians, including 1,000 residents of Québec and 1,800 from Ontario, Alberta, and British Columbia. It probed public opinion on the administration of psilocybin without Health Canada's approval, its ...

January 25th, 2024|

PharmAla Launches “MDXXF” Ticker Amid MDMA Research

LOS ANGELES- PharmAla Biotech Holdings Inc., a biotechnology company specializing in the research, development, and manufacturing of novel MDMA derivatives (MDXX class molecules), has announced the introduction of its new OTC ticker symbol, "MDXXF." This change, effective from January 24th, signifies a strategic alignment with the company's core business focus. The announcement was made by Nick Kadysh, CEO of PharmAla Biotech, who expressed heightened anticipation for the upcoming period. This anticipation is particularly driven by the impending decision of the U.S. Food and Drug Administration (FDA) on its approach to assessing MDMA as a therapeutic molecule. Kadysh highlighted PharmAla's leading global position in the development of MDMA and MDXX class ...

January 25th, 2024|

Red Light Holland Advances in Psilocybin Microdosing Capsules for Australasian Market

NEW YORK – Red Light Holland Corp., a leader in the production and distribution of functional mushrooms and psilocybin truffles, has announced significant progress in the development and distribution of its natural psilocybin microdosing capsules. The company, in a strategic collaboration with CCrest Laboratories, has completed a crucial Product Specification report, paving the way for NUBU Pharmaceuticals to seek an import license in Australia and New Zealand. Red Light Holland's microdosing capsules, developed from psilocybin truffles grown in the Netherlands, have previously cleared stringent quality checks, including a Certificate Of Analysis and stability testing. These tests confirmed the absence of pesticides, bio-contaminants, or heavy metals in the capsules, ensuring they ...

January 23rd, 2024|

AlphaFold: AI’s Role in the Future of Psychedelic Drug Development

LOS ANGELES- In the realm of pharmaceutical research, a groundbreaking approach is being adopted in the United Kingdom, where researchers are utilizing AlphaFold, an advanced artificial intelligence tool, to develop new psychedelic drugs potentially useful as antidepressants. The latest research, which awaits peer review, suggests that AlphaFold's AI-generated protein structures could rival traditional experimental methods like X-ray crystallography, which often require years of investigation. AlphaFold, developed by DeepMind in London, is a public database comprising structure predictions for nearly every known protein. This AI tool is poised to revolutionize biological research by enabling pharmaceutical companies to more efficiently identify and refine drugs targeting disease-related molecules. Jens Carlsson, a computational chemist ...

January 23rd, 2024|

FDA’s ‘Breakthrough’ Nod to MM120, An LSD-Derivative, for Anxiety Relief

LOS ANGELES- In a significant development within the field of psychedelic therapy, the Food and Drug Administration (FDA) has recognized the LSD-analog substance MM120, also known as lysergide d-tartrate, with a 'breakthrough therapy' designation for its potential in treating generalized anxiety disorder (GAD). This status is aimed at accelerating the development and review process for drugs that demonstrate substantial improvement over existing therapies for conditions with considerable unmet medical needs. MM120, developed by Mind Medicine Inc. (MindMed), joins a growing list of psychedelic substances, including MDMA, esketamine, and psilocybin, that have garnered attention for their transformative potential in mental health treatment. Described as a tartrate salt form of lysergide, MM120 ...

March 13th, 2024|

Optimi Health Corp Expands Psychedelic Substance Manufacturing Capabilities with Health Canada License Amendment

LOS ANGELES- Optimi Health Corp.  a Health Canada licensed entity engaged in psychedelic substance research and formulation, has achieved a significant milestone in its operational growth. The company announced on January 16, 2024, an amendment to its Controlled Drugs and Substances Licence by Health Canada. This amendment marks a substantial increase in the permitted quantities of several controlled substances, including MDMA, MDA, and 2C-B. The specific changes under the amendment include an increase in the permissible amount of N-Methyl-3,4-methylenedioxyamphetamine (MDMA) from 2kg to 20kg, 3,4-Methylenedioxyamphetamine (MDA) from 1kg to 2kg, and 4-Bromo-2,5-Dimethoxybenzene Ethanamine (2C-B) from 400g to 4kg. These adjustments reflect a significant expansion in Optimi's manufacturing capabilities for these ...

January 21st, 2024|

Filament Health Achieves Milestone with First Botanical Psilocybin Export to Australia

NEW YORK – Filament Health Corp. (OTCQB: FLHLF) (Cboe CA: FH) (FSE: 7QS), a trailblazer in the realm of natural psychedelic drug development, announced a significant milestone in its global expansion with the successful export of PEX010, its botanical psilocybin drug candidate, to Perth, Western Australia. This shipment, received by Reset Mind Sciences Ltd., a subsidiary of Little Green Pharma, marks a historic first in the Australian psilocybin industry. Lisa Ranken, Chief Operating Officer at Filament Health, highlighted the achievement as a testament to the company's robust regulatory capabilities. She noted, "This is the first legal shipment of a botanical psilocybin drug candidate to arrive in Australia, and we are pleased ...

January 17th, 2024|

DEA Proposes Increased Production Quotas for Cannabis and Psychedelics

LOS ANGELES- In a significant policy shift, the Drug Enforcement Administration (DEA) has proposed substantial increases in the production quotas for cannabis and various psychedelics for 2024. This move reflects a growing recognition of the potential therapeutic benefits of these substances and underscores the federal agency's commitment to facilitating more comprehensive research. The DEA's initial proposal, outlined in the Federal Register in November 2023, included notable increases in the aggregate production quotas (APQ) for substances such as THC, psilocybin, and dimethyltryptamine (DMT), all of which have garnered attention for their possible therapeutic effects. The latest update for the 2024 quotas suggests even larger increases. For instance, the APQ for d-9-THC ...

January 16th, 2024|
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