It’s been a busy week in the psychedelic sector. Cybin Corp. closed a $45 million raise, the largest psychedelic company funding round in Canadian history.
Another important milestone came from Numinus, who became the first public company to harvest a legal flush of psilocybe mushrooms in Canada earlier this week.
We saw a new patent application publication from COMPASS Pathways, and learned more about a Phase 2 trial for psilocybin in cancer patients that the company is funding.
Mainstream media coverage continues to drive new interest to this space, with a flurry of high profile articles this week including one of the UK’s most respected newspapers, The Times.
Here’s your roundup…
Psychedelic Sector News
Cybin: Historic $45 Million Raise; Inches Closer to NEO Exchange Listing
Cybin Corp. announced the sale of 60 million subscription receipts, at a price of CAD $0.75 per receipt. This amounts to gross proceeds of CAD $45 million. The raise is thought to be the largest in Canadian history for a psychedelic company.
Cybin also reports that significant elements of their RTO with Clarmin have been approved following a shareholder meeting. This paves the way for Cybin to list on the NEO Exchange.
Numinus: Harvests First legal Flush of Psilocybe Mushrooms in Canada
Numinus has become the first public company to harvest a legal flush of Psilocybe mushrooms in Canada. The Company completed the harvest under its Controlled Drugs and Substances Dealer’s Licence.
COMPASS: New Patent Application Publication; Phase 2 Trial for Psilocybin in Cancer Patients with Depression
Yesterday, a new patent application by Compass Pathways was published. This application, their third in the U.S., has claims to oral dosage forms of the same crystalline psilocybin “polymorph A” as their issued ‘175 patent, but lacking the limitations that require characterization by X-ray diffraction. Our editor-at-large and registered patent attorney, Graham Pechenik, shared snap analysis via Twitter.
Revive Therapeutics: Signs Supply Agreement with Havn
After a number of press releases solely focusing on their Bucillamine for COVID-19 trials, Revive revealed this psychedelic news on Tuesday. The Company has signed a supply agreement with Havn Life, to source naturally-derived psychedelic compounds including psilocybin for future use in Investigational New Drug studies and clinical trials.
Field Trip: Opens Therapy Center in Chicago
Field Trip announced the opening of their Chicago center. This marks the 4th Field Trip Health center to open in 2020: Toronto, New York, Los Angeles, and now Chicago. These centers are currently used for ketamine-assisted psychotherapy.
Pharmather: Files for FDA Orphan Drug Designation; Secures Exclusive Rights to Microneedle Delivery Tech
Pharmather has filed an application with the FDA for Orphan Drug Designation, which is reserved for rare diseases. The use-case in question is ketamine for the treatment of levodopa-induced dyskinesia, which is associated with Parkinson’s Disease.
Later in the week, Pharmather announced that they have entered into an exclusive license agreement with BioRAE for the development and commercialisation of a microneedle delivery technology. The biocompatible and biodegradable gelatin microneedle is developed at UCLA, and is intended for use with psychedelic pharmaceuticals such as psilocybin, ibogaine, LSD, MDMA, and others.
Psyched Wellness: Latest Psychedelic Company to Go Public
Psyched Wellness becomes the latest psychedelic-related company to trade publicly. The Company claims to be focused on the production and distribution of functional mushrooms, with a nod to the psychedelic community in the below press release.
CSE: PSYC, OTC: DCNPF.
Weekend Reads / In the News
Scientists identify a powerful anti-inflammatory compound in psychedelic drugs
Massive Science. This enlightening – and very shot – piece explains the compound 2 C-H, which appears to reduce inflammation without mind-altering effects.
Why D.C. and Oregon Should Vote Yes on Psychedelics
Slate. A ringing endorsement from popular online magazine, Slate.
Compass Pathways CEO expects psilocybin-based treatments by 2025
Phase 2 Clinical Trial to of Psilocybin in Cancer Patients with Depression
Psilocybin Alpha. We covered the latest clinical trial this week. In collaboration with COMPASS Pathways, Maryland Oncology Hematology is conducting the first clinical trial to test the safety and efficacy of psilocybin therapy for the treatment of depression in cancer patients.
Investors are pouring millions into startups that are developing magic mushrooms as medications…
Gizmodo. This long-read article takes is inside the Measure 109 Campain in Oregon, and offers an enlightening discussion of the main opposition group and their motives.
I did a “magic mushroom” trip to treat my end-of-life anxiety
The Kit. Laurie Brooks was one of the four end-of-life patients granted an exemption in August enabling her to access psilocybin-assisted therapy. Read her experience in this piece.
Microdosing LSD Improves Mood and Cognition
Futurism. This piece discussed new research that suggests microdosing LSD can help your focus.
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