We’re starting a series called Psychedelics in Focus, where we follow the latest developments the psychedelics industry. Topics covered will include updates in legislation, drug discovery / research and development, as well as markets, mergers and acquisitions.
DRUG DISCOVERY, RESEARCH & DEVELOPMENT
Optimi Health Corp. (CSE: OPTI) (OTCQB: OPTHF) (FRA: 8BN) has announced a recent patent filing for a breakthrough process that facilitates the extraction of Psilocbyin and Psilocin from mushrooms at higher yields than previously possible.
Mindset Pharma (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) the company has announced that, in addition to its potential lead new chemical entity (NCE) candidate, MSP-4018, they have identified two additional pipeline opportunities from its Family 4 compounds, MSP-4019 and MSP-4020. In preclinical studies, both compounds demonstrated strong efficacy and an improved safety profile in comparison to 5-MeO-DMT and parent compounds.
Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) is planning to supply its lead drug candidate, MYCO-001 for a smoking cessation study being conducted at Johns Hopkins University, New York University and the University of Alabama Birmingham by leading drug and substance use researcher, Dr. Matthew Johnson.
Novamind (CSE:NM)(OTCQB:NVMDF)(FSE:HN2) is launching Psychedelic Palliative Care by Novamind at its clinic and research site in Murray, Utah. Their Palliative Program combines psychedelic medicine with psychotherapy, workshops, multi-day immersive retreats and group support for palliative care patients and families who are coping with chronic and serious illness.
Psyched Wellness (CSE:PSYC) (OTCQB:PSYCF) (FSE:5U9) has announced that KGK Science, a licensed contract research organization (CRO) in Canada, is commencing the next pre-clinical trial study on Psyched’s key proprietary extract, Amanita Muscaria (AME-1).
The trial will comprise a conditioned placement preference study (CPP) in order to establish any beneficial and/or adverse health effects of AME-1 – providing evidence to determine whether the extract has any abuse potential.
PharmaTher (OTCQB: PHRRF) (CSE: PHRM) has initiated its Phase 2 KET-LID clinical trial of Ketamine for the treatment of Levodopa-Induced Dyskinesia in Subjects with Parkinson’s Disease. Patient screening and enrollment is expected to begin this month with data anticipated in late Q4 2021.
Levitee Labs (CSE: LVT) published revenue figures for the month. On a consolidated basis, Levitee has recorded a revenue of $893,863 for the month of August. Since the acquisition of ACT Medical Centres in July, Levitee Pharmacies has increased its revenue by 10% from July to August. Earth Circle Organics, Levitee’s supplements and superfoods products company increased sales 14.5% from July to August ($303,731 in July to $347,902 in August).
Levitee also announced that it’s Common Shares were accepted for listing on the Frankfurt Stock Exchange (FSE) under the trading symbol “7H7”. Their common shares are now cross-listed on the CSE, OTC Markets and the FSE.
IntelGenx Technologies Corp. (TSXV: IGX) (OTCQB: IGXT) announced that it has received final approval to graduate to the TSX, from the TSXV. IntelGenx’s shares of common stock , 8% convertible debentures with a maturity date of June 30, 2022 and share purchase warrants expiring on February 11, 2023 are expected to commence trading on the TSX at market open on Thursday, October 7 2021 under their existing stock symbols “IGX”, “IGX.DB” and “IGX.WT”.
The AdvisorShares established their Psychedelics ETF (NYSE: PSIL) in September. The portfolio includes firms involved in the emerging psychedelic drugs sector, offering exposure to those biotechnology, pharmaceutical and life sciences companies they see as leaders in the industry. PSIL concentrates its portfolio on companies deriving the majority of their net revenue or devoting the majority of their assets to psychedelic drugs.
HAVN Life Sciences Inc. (CSE: HAVN) (OTC: HAVLF) (FSE: 5NP) has filed its final short form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada and received a final receipt in respect thereof. The Final Shelf Prospectus allows the HAVN Life to offer and issue up to $25 million of common shares, debt securities, subscription receipts, warrants, units, or any combination of such securities during the 25-month period that the Final Shelf Prospectus remains effective.
MERGERS, PARTNERSHIPS & ACQUISTIONS
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED), (DE: MMQ) has partnered with Sphere Health (a doctor-founded employee benefits provider targeting mental health treatments) to launch MM061302, a study using consumer technology to which may be used to develop more accurate machine learning tools in order to identify biomarkers that show association with and prediction of symptoms of anxiety and depression.
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) has plans to develop and launch a global registry for the identification and management of current and former boxers with mTBI and PTSD in partnership with the World Boxing Association.
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