Psychedelics in Focus | Week of October 17

Here’s our latest installment of Psychedelics in Focus, where we cover the latest developments the psychedelics industry.  Let’s take a look at recent updates in legislation, drug discovery / research and development, as well as markets mergers and acquisitions.

LEGISLATION

Pennsylvania lawmakers introduced a bill that promotes research into the therapeutic potential of psilocybin mushrooms for mental health conditions like Post-Traumatic Stress Disorder (PTSD).  The legislation, titled the Public Health Benefits of Psilocybin Act, would prioritize studies that focus on veterans, retired first responders and their families.

DRUG DISCOVERY, RESEARCH & DEVELOPMENT

Algernon Pharmaceuticals (CSE: AGN) (OTCQB: AGNPF) has filed a scientific advice meeting request with the UK Medicines and Healthcare Products Regulatory Agency (MHRA) for a Phase 1/2a stroke study with AP-188 (DMT), a psychedelic compound that is part of the tryptamine family.  The meeting is similar to the pre-IND meetings offered by the US Food and Drug Administration.  These meetings will have Algernon confirm that its chemistry, manufacturing and controls information, pre-clinical data, and Phase 1/2a clinical plans are appropriate for submission of a Clinical Trial Authorization (CTA) application for a study with DMT in the UK.

Cybin (NEO: CYBN) (NYSE: CYBN) filed an international patent application related to methods for the delivery of psychedelic medications by inhalation and devices for performing those methods.  Cybin believes that psychedelic medicines delivered using inhalation may optimize psychedelic session timing compared to oral administration of the same compounds. Inhalation delivery may also preserve efficacy and provide health care providers with more control during psychedelic sessions.

Ketamine One Capital (NEO: MEDI) (OTC: KONEF) will be launching a single arm, open label study of patients with post-traumatic stress disorder (PTSD) who are undergoing the physical therapy program at their IRP Health clinics.  They’ve also launched an observational single-arm, pilot study aimed at collecting objective biometric data and validated psychiatric instrument measures of efficacy in patients with depression symptoms who are receiving IV ketamine infusion therapy.

IntelGenx Corp. (TSX: IGX) (OTCQB: IGXT) announced its intention to resume patient screening in the ongoing Montelukas VersaFilm Phase 2a clinical trial in patients with mild to moderate Alzheimer’s Disease following Health Canada’s issuance of a No Objection Letter in response to amended Clinical Trial Application.  This study was previously put on hold in the Q2 2020 as the target study population in the BUENA study is considered to be a higher risk group for severe illness from COVID-19.  This now paves the way for patient screening under the amended protocol to resume in this month.

The market responded well to this news as IntelGenx stock rose by 39% over the week of their press release.

PSYCHEDELIC MARKET

Filament Health Corp. (NEO: FH) (OTCQB: FLHLF) announced its common shares have been approved for uplisting and trading on the OTCB Venture Market.  They have also received approval from the Depository Trust Company (DTC) to make their common shares eligible to be electronically cleared and settled through DTC. The Company’s common shares are quoted on the OTCQB under the symbol “FLHLF” and will continue to trade on Canada’s NEO Exchange under its existing symbol “FH”.

Psyence Group Inc. (CSE: PSYG) has common shares have been approved for trading on the OTCQB Venture Market (OTCQB) under the symbol “PSYGF”

MERGERS, PARTNERSHIPS & ACQUISTIONS

Silo Wellness Inc. (CSE: SILO) (OTCQB: has listed its portfolio of Marley One branded mushroom products on Amazon.  The Amazon listing follows Silo’s inking of over $4 million in international distribution deal, which has increased their access to the market in the both the US and the UK in the past 2 months.

Levitee Labs Inc. (CSE: LVT) (OTC: LVTTF) has began a partnership with Adracare, a Well Health Technologies company (TSX: WELL).  WELL will provide Levitee Lags Inc. access to WELL’s comprehensive end-to-end practice management tools, including a world-class tele

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The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

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