Psychedelics

LOS ANGELES- In a significant setback for advocates of psychedelic-assisted therapy, California's proposal to legalize treatment centers for supervised access to substances like psilocybin and MDMA has been halted. The Senate Appropriations Committee dropped Senate Bill 1012, leaving proponents disappointed but hopeful for future progress. Senate Bill 1012, known as the “Regulated Psychedelic Facilitators Act,” was introduced to establish treatment centers where adults over 21 could receive supervised sessions involving psychedelic substances such as psilocybin, psilocin, DMT, MDMA, and mescaline. Sponsored by state Senator Scott Wiener, the bill aimed to integrate alternative mental health therapies into mainstream medical practice.The initiative was driven by increasing evidence of the therapeutic potential of ...

LOS ANGELES-Silo Pharma, Inc., a biopharmaceutical company specializing in novel formulations and drug delivery systems for traditional therapeutics and psychedelic treatments, has announced new research findings indicating promising advances in depression remission and relapse prevention. Innovative Drug Formulation The study, conducted under Silo Pharma's sponsored research agreement with Columbia University, explored a new drug formulation targeting previously unexplored biochemical pathways associated with mood regulation. The results demonstrated significant improvements in patient mood stability without the common side effects associated with current antidepressants. “The recently completed study demonstrated marked improvements in mood stability, which we see as a potentially significant development for combatting depression and preventing relapse,” said Silo CEO Eric ...

LOS ANGELES- The proposal to legalize psychedelic treatment centers in California has been shelved for the year. The initiative was developed in response to concerns raised by Governor Gavin Newsom (D) after he vetoed a prior proposal to decriminalize certain naturally occurring psychedelics. The California Senate Appropriations Committee, dominated by Democrats, dropped Senate Bill 1012, also known as the "Regulated Psychedelic Facilitators Act," alongside hundreds of other bills, as reported by the LA Times. This bill, sponsored by state Senator Scott Wiener (D), aimed to legalize treatment centers where adults aged 21 and over could access psychedelic substances such as psilocybin, psilocin, DMT, MDMA, and mescaline under supervision. Senator Wiener ...

LOS ANGELES- A new study from Johns Hopkins University, published in the Journal of Psychoactive Drugs, indicates that a single psilocybin experience is unlikely to change an atheist's belief in God or alter a person's sense of free will. However, the study found that psilocybin may lead to increased perceptions of consciousness in animals, plants, and even inanimate objects like rocks and robots. The research surveyed hundreds of individuals who planned to use psilocybin outside a laboratory setting. Participants were asked about their beliefs before and at two points after their experiences. While there were minor shifts in how participants perceived consciousness—such as attributing consciousness to primates and insects—their religious ...

LOS ANGELES- Reunion Neuroscience Inc., a developer of psychedelic drug treatments, has successfully raised $103 million in a Series A financing round. The round was co-led by MPM BioImpact and Novo Holdings, with additional participation from various healthcare investment firms including Arkin Bio Capital and Mitsui & Co. Global Investment. This funding marks a pivotal step for Reunion, which was initially spun out from Field Trip Health, a network of ketamine clinics. The capital will primarily fuel the advancement of RE104, Reunion’s leading drug candidate. RE104 is designed as a fast-acting, short-duration therapy aimed at treating mental health conditions. Distinct from traditional psychedelic therapies that can last up to eight ...

LOS ANGELES- A recent study conducted by researchers in the United Kingdom has found promising results for psilocybin, the active psychedelic compound in "magic mushrooms," as a treatment for depression. The study, which was reported by Medical News Today and published in The BMJ, involved a systematic review and meta-analysis of seven randomized controlled trials. The research concluded that psilocybin was more effective than niacin (Vitamin B), microdoses of other psychedelics, and a placebo in alleviating symptoms of depression. These trials also included the use of psychotherapy, allowing researchers to isolate the effects of psilocybin from those attributable to psychotherapeutic interventions. Dr. Akanksha Sharma, a neurologist and neuro-oncologist at the ...

LOS ANGELES- The University of California, Berkeley, and Harvard University have launched a groundbreaking collaborative initiative titled "Psychedelics in Society and Culture" aimed at expanding research into the cultural, societal, and humanistic aspects of psychedelics. This initiative represents a significant shift from the predominantly therapeutic-focused psychedelic research to exploring broader implications in the arts, humanities, and social sciences. Led by UC Berkeley's Center for the Science of Psychedelics (BCSP) and the Center for Interdisciplinary Critical Inquiry (CICI), along with Harvard’s Mahindra Humanities Center (MHC), the project is supported by a $1 million grant from the Flourish Trust. This funding is earmarked to support innovative research projects at UC Berkeley over ...

LOS ANGELES- The Alaska House of Representatives has passed legislation aimed at preparing the state for the potential federal approval of psychedelic-assisted therapies. The measure, known as House Bill 228 (HB 228), was approved with significant support, passing with a vote of 36 to 4. HB 228 seeks to establish a state task force dedicated to studying the licensing and regulatory frameworks necessary for administering therapies using substances like MDMA and psilocybin, should they receive federal approval. This task force is tasked with issuing recommendations by January 31, 2025. Representative Jenny Armstrong (D), the bill's sponsor, emphasized the importance of readiness for potential FDA approvals of these substances as treatments ...

LOS ANGELES- Red Light Holland Corp., a production and distribution of functional mushrooms and psilocybin truffles, has announced the successful initial testing and dehydration of psilocybin truffles at CCrest Laboratories Inc. in Montreal, Canada. This development marks a significant step in the company’s expansion into psychedelic research and product development. On April 8th, 2024, Red Light Holland initiated its largest shipment to date, sending 5 kg of freshly cultivated psilocybin truffles from the Netherlands to CCrest Labs. This process, enabled by a Health Canada approved import permit, underscores the rigorous standards and international cooperation characterizing this venture. CCrest Labs, a cGMP-certified pharmaceutical laboratory, has meticulously completed the dehydration and baseline ...

LOS ANGELES- California is making strides in pioneering psychedelic-assisted therapy through proposed legislation aimed at establishing regulated centers for adult usage of substances like psilocybin, MDMA, and mescaline. The "Regulated Therapeutic Access to Psychedelics Act," which has recently passed through Senate committees, is now pending review by the Appropriations Committee. Sponsored by Senator Scott Wiener, the bill proposes regulated access points for these substances, allowing adults aged 21 and over to use them under supervised conditions. It does not seek full decriminalization but focuses on a structured legal framework to facilitate their therapeutic use. Key components of the bill include stringent training and licensing for facilitators who will oversee this ...

LOS ANGELES- California's legislative body has taken a significant step towards the formal integration of psychedelic therapy into medical practice with the Senate Business, Professions and Economic Development Committee's recent approval of Senate Bill 1012. The bill, championed by Senator Scott Wiener of San Francisco, aims to create licensed centers where adults aged 21 and older can use substances such as psilocybin, MDMA, mescaline, and DMT under professional supervision. This legislative move aligns with Governor Gavin Newsom's preference for a measured approach to psychedelic reforms. It marks a notable progression from the previous year when a broader decriminalization bill was vetoed by the governor. Senator Wiener and supporters advocate that ...

LOS ANGELES- Cybin Inc., a biopharmaceutical company dedicated to improving mental healthcare through psychedelic-based therapies, has announced the granting of a new U.S. patent for its CYB003 program, aimed at treating Major Depressive Disorder (MDD). The patent, U.S. 11,958,807, is expected to ensure exclusivity for the company's innovative treatments until at least 2041. The patent specifically covers pharmaceutical compositions related to Cybin’s proprietary deuterated psilocybin analog program, CYB003. This development represents a key component of the company's strategy to protect and advance its intellectual property in the burgeoning field of psychedelic medicine. Doug Drysdale, CEO of Cybin, stated that the patent is a crucial step in protecting the company’s innovative ...

LOS ANGELES- In a significant move towards exploring the therapeutic potential of psychedelic substances, Maine lawmakers have sent a bill to Governor Janet Mills that aims to establish a commission for studying and recommending regulatory frameworks for psychedelic services. The bill, known as LD 1914, has undergone amendments from its original version, shifting from legalizing psilocybin for therapeutic use to a more cautious approach focusing on research and future regulation. The proposed commission, consisting of 13 members including legislative appointees, health experts, a military veteran, academics, and individuals with experience in psychedelics policy, is tasked with reviewing medical, psychological, and scientific studies on the safety and efficacy of psilocybin in ...

NEW YORK- Silo Pharma, Inc. a biopharmaceutical company specializing in novel formulations and drug delivery systems, has announced its decision to license a therapeutic candidate for Alzheimer's disease (AD), known as SPC-14, from Columbia University. This move follows a sponsored research and option agreement established in 2021. Under the terms of the impending license agreement, Silo Pharma will acquire an exclusive global license to further develop, manufacture, and commercialize SPC-14. The company anticipates finalizing and entering into this exclusive license agreement in the first half of 2024. Eric Weisblum, CEO of Silo Pharma, expressed optimism about the potential of SPC-14, stating, "Columbia University has discovered a therapeutic candidate that could ...

LOS ANGELES- Filament Health Corp., a psychedelic drug developer, has reported its financial results for the fourth quarter and the full year ending December 31, 2023. The company showed notable revenue gains and a significant reduction in net loss compared to the previous year. For the full year, Filament reported total revenues of $2.1 million, a substantial increase from $364,500 in 2022. The net loss for the year was $5.3 million, which represents a 103% improvement from the $16.5 million net loss in 2022. The company ended the year with $1.8 million in cash and cash equivalents and $1.1 million in working capital. CEO Benjamin Lightburn highlighted the company's progress, ...

LOS ANGELES- In an innovative legislative move, California lawmakers have introduced a bipartisan bill that aims to permit individuals over the age of 21 to consume psychedelic mushrooms under professional supervision. This proposal seeks to address the state's pressing mental health and substance use issues. The introduction of this bill follows Governor Gavin Newsom's veto last year of a measure that would have decriminalized the possession and personal use of certain plant-based hallucinogens, including psychedelic mushrooms. The governor had emphasized the need for therapeutic guidelines and regulations at the time. The newly proposed Senate Bill 1012, spearheaded by Democratic Sen. Scott Wiener and Republican Assemblymember Marie Waldron, advocates for the ...

NEW YORK- Alberta Blue Cross's recent endorsement of insurance coverage for Psychedelic-Assisted Therapy signifies a pioneering move in Canadian healthcare, positioning Alberta as the first province to officially support and regulate such treatments. This development reflects a broader shift in the perception of psychedelic substances, including psilocybin, MDMA, LSD, and DMT, for their therapeutic potential in mental health care. Psychedelic-Assisted Therapy has been under the spotlight for its promising outcomes in treating severe mental health disorders, offering a new avenue for patients who have not found relief through traditional methods. This step by Alberta Blue Cross not only enhances access to these innovative treatments but also sets a precedent for ...

LOS ANGELES- The University of Calgary, through its Hotchkiss Brain Institute, has embarked on a study to examine the potential of psychedelics, specifically psilocybin, in treating Alcohol Use Disorder (AUD). With plans to recruit 128 participants, this research integrates specialized therapy sessions with psychedelic treatments to evaluate whether this novel approach can outperform conventional treatment methods. Dr. Leah Mayo, leading the study, explains that the trial will build on the foundational benefits of psychotherapy for AUD, with psilocybin introduced to enhance treatment outcomes. This strategy aims to disrupt persistent negative behaviors by leveraging a brief but intensive treatment period, combining controlled psilocybin doses with psychotherapy over five weeks. The study's ...

LOS ANGELES- The Institute for Clinical and Economic Review (ICER) has recently highlighted significant concerns regarding the clinical evidence behind MDMA-assisted psychotherapy (MDMA-AP) for post-traumatic stress disorder (PTSD), according to a draft evidence report. This report marks the halfway point of an eight-month evaluation process conducted by ICER, a nonprofit organization known for its rigorous analysis of the value of health interventions. While the findings are preliminary, they shed light on potential issues within the clinical trials conducted by Lykos for its MDMA therapy. David Rind, ICER’s Chief Medical Officer, acknowledged the profound impact of PTSD and the current gaps in effective treatments. However, the draft report outlines serious concerns ...

LOS ANGELES- PharmAla Biotech Holdings Inc., in collaboration with Cortexa Pty. Ltd., has achieved supplying Good Manufacturing Practice (GMP) Psilocybin for therapeutic use to a patient under the Australian authorized prescriber scheme, marking what the company believes to be a global first. This groundbreaking development allows for the treatment of patients with treatment-resistant depression outside of clinical trials. The partnership between PharmAla and Australian-based digital health company Vitura Health Ltd. led to the creation of Cortexa, a joint venture established in May 2023. Cortexa has rapidly positioned itself as the sole provider in Australia capable of immediately supplying both GMP MDMA and Psilocybin for clinical trials and prescriptions through the ...

NEW YORK-Utah is set to introduce a pioneering pilot program that will allow select hospitals to administer psilocybin and MDMA to patients for behavioral health treatment starting in May, after Governor Spencer Cox opted to let the authorizing bill become law without his signature. This decision marks a significant step forward in the exploration of psychedelic substances for medical use within the state. The program, which is scheduled to run for three years until 2027, is open to any privately owned nonprofit Utah hospital system that operates at least 15 hospitals, as well as any higher education medical program. This initiative is designed to explore the potential benefits of psilocybin ...

LOS ANGELES- In a move within the field of psychiatric treatment, MindBio Therapeutics Corp. has announced the launch of its Phase 2B clinical trial, investigating the potential of psychedelics in treating Major Depressive Disorder (MDD). This trial aims to assess the effectiveness of MB22001, a proprietary formulation of Lysergic Acid Diethylamide (LSD), uniquely designed for self-administration by patients outside clinical environments. The study, characterized by its randomized, triple-blind, and active placebo-controlled design, is set to enroll 90 patients in an 8-week regimen. This innovative trial structure allows participants to self-administer MB22001, demonstrating MindBio's commitment to developing scalable, user-friendly treatments. The trial participants are evenly divided, with one group receiving an ...

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 ...

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 ...