Posted on

Field Trip Psychedelics Inc. Announces Closing of Oversubscribed Series A Financing

TORONTO, Feb. 6, 2020 /PRNewswire/ — Field Trip Psychedelics Inc. (“Field Trip” or the “Company“), the world’s first mental wellness company focused exclusively on psychedelics and psychedelic-enhanced psychotherapy, is pleased to announce the closing of its oversubscribed Series A financing round. The financing, which was completed through a private placement, raised $8.5M USD for the Company.

The funds will be used to execute the initial stages of Field Trip’s strategic plan to build out the world’s first network of medical centres focused exclusively on psychedelic-enhanced psychotherapy. Additionally, the financing will help fund the final construction of its research and cultivation facility at the University of the West Indies in Jamaica that is dedicated to the study of psilocybin-producing mushrooms and the discovery of novel therapeutic molecules.

“The interest we had in this financing came from a broad and varied group of academics, entrepreneurs, medical professionals, financial professionals and investment funds,” said Ronan Levy, Executive Chairman of Field Trip. “The ability to pull together such a thoughtful, supportive and diversified investor base is certainly a tribute to the team at Field Trip and the work we are doing. It also speaks profoundly to the level of interest, excitement and importance that people around the world are placing on the advancement of psychedelics and the role they may play in improving mental health, performance, general wellness and happiness.”

The financing was led by Field Trip’s founders and Singhal Health Foundation. Other notable investors in the round include Subversive Capital, Silver Spike Capital and the venture capital firm Bolt, as well as individual investors Harris Fricker, an early stage investor and pioneer in e-payments and blockchain, and Ben Greenfield, a globally recognized longevity expert and biohacker.

Triple Bottom Line: People, Planet and Profit

Additionally, Field Trip has amended its Articles of Incorporation to reflect its commitment to Triple Bottom Line operations. A “Triple Bottom Line” approach to business (commonly described as “people, planet and profit”) requires an organization to assess and account for its social and environmental impacts, in addition to its financial impacts in its decision-making processes.

Sanjay Singhal, Founder of the Singhal Health Foundation, said, “Nearly 1 in 4 people will be diagnosed with a mental health condition in their lifetime. By 2023, depressive disorders will be the single largest cause of the burden of disease globally. Addressing the global mental health crisis requires effort, work and coordination from people and organizations of all forms; academic, non-profit and for-profit. The team at Field Trip blends the right balance of a track record of success, ambition, and commitment to ethical and thoughtful business practices, which is why I’m excited to support their efforts and work closely with them to achieve their mission.”

About Field Trip Psychedelics Inc.
Field Trip is world’s first mental wellness company at the forefront of the scientific re-emergence of psychedelics and psychedelic-enhanced therapies. With Field Trip Health centres opening across North America, and advanced research on plant-based psychedelics through Field Trip Discovery, we help people, from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world.

Learn more at https://fieldtriphealth.com and https://fieldtripdiscovery.com

SOURCE Field Trip Psychedelics Inc.

Related Links

https://fieldtriphealth.com

Posted on

AbbVie’s SKYRIZI™ Now Publicly Reimbursed in Ontario, Alberta, Saskatchewan and Quebec for the Treatment of Moderate to Severe Plaque Psoriasis

  • SKYRIZI™ is an interleukin-23 (IL-23) inhibitor used for the treatment of moderate to severe 1
  • In clinical studies, SKYRIZI™ significantly improved levels of skin clearance after just 16 weeks and

maintained clearance at one year (52 weeks).1

  • SKYRIZI™ is the only IL-23 inhibitor to arrive at a positive conclusion with the pCPA and is currently listed on the provincial formularies of Ontario, Alberta, Saskatchewan and
  • Ontario lists SKYRIZI™ on its provincial formulary effective January 31,
  • Alberta lists SKYRIZI™ on its provincial formulary effective February 01,
  • Saskatchewan lists SKYRIZI™ on its provincial formulary effective February 01,
  • Quebec lists SKYRIZI™ on its provincial formulary effective February 05,

 

MONTRÉAL, QC, February 06, 2020 – AbbVie (NYSE: ABBV), a global, research and development-based biopharmaceutical company, announced today that Ontario, Alberta, Saskatchewan and Quebec have listed SKYRIZI™ (risankizumab) on their respective provincial formularies for the treatment of moderate to severe plaque psoriasis. This announcement comes just two months after AbbVie successfully reached an agreement with the pan-Canadian Pharmaceutical Alliance (pCPA) – bringing a much-needed treatment to patients living with psoriasis.

 

“I have been working with SKYRIZI™ for the past four years as I have been involved in the clinical trials. A cure does not exist for psoriasis; however, this biologic therapy targets a cytokine, IL-23, that regulates psoriasis. I have seen very positive, long-lasting results, including improvements to the patient’s overall health and well-being. I am excited that more people in Ontario will now have access to this new

targeted innovative therapy,” states Dr. Melinda Gooderham, a dermatologist from the SKiN Centre for Dermatology in Peterborough, Ontario.

 

Psoriasis is a chronic condition affecting 125 million people worldwide, including 1 million Canadians, and many patients despite treatment still do not reach their goals or lose treatment response over time.2-4 The most common form is plaque psoriasis, which affects approximately 90% of patients. 5

 

“Psoriasis severely affects an individual’s quality of life. I am so pleased that my patients suffering with moderate to severe psoriasis will now be able to access SKYRIZI™ through Alberta’s publicly funded medication insurance program,” explains Dr. Kirk Barber, Chief Dermatologist, Calgary Treatment & Research. “In my clinical practice it has been a significant advancement in treatment especially due to its convenient dosing and predictable complete clearance – which is long lasting.”

 

Psoriasis is a significant problem in primary care, affecting 3.1% of the Canadian population.6 Of these patients, 28% or approximately 325,000 Canadians are considered moderate to severe.7

 

 

Information regarding specific provincial criteria may be found by consulting the links below:

 

 

SKYRIZI™ is part of a collaboration between Boehringer Ingelheim and AbbVie, with AbbVie leading development and commercialization globally.

 

“Our patients suffering from psoriasis now have access to highly targeted and effective treatment

options. Our knowledge about the disease’s immunopathology keeps improving. So is treatment practicality, as some treatments have longer dosage intervals and can be administered only once every 3 months, for example. We are now in a position where we can virtually control the disease in most psoriasis patients,” says Dr. Yves Poulin, a dermatologist and dermatology professor at Université Laval. “New treatment options like risankizumab are groundbreaking for our patients and for our ability to provide them with adequate care, and consequently improve their quality of life. And they deserve it, given the destructive impact the disease has on their life.”

 

About SKYRIZI™

SKYRIZI™ is a novel, humanized immunoglobulin monoclonal antibody designed to selectively inhibit IL- 23, a naturally occurring cytokine involved in inflammatory and immune responses.1 On April 17, 2019, SKYRIZI™ received a NOC from Health Canada for the treatment of moderate to severe plaque psoriasis in patients who are candidates for systemic therapy or phototherapy, based on results from clinical studies showing significant improvement in levels of skin clearance after just 16 weeks and at 52 weeks with every 3-month dosing in more than 2000 adult patients.1 Four pivotal Phase 3 studies, ultIMMa-1, ultIMMa-2, IMMvent and IMMhance evaluated more than 2,000 patients with moderate to severe plaque psoriasis.4 Canadians living with moderate to severe plaque psoriasis were well represented in all four of the pivotal clinical trials leading to Health Canada’s approval, showing the Canadian leadership in this clinical development program. SKYRIZI™ is the only IL-23 inhibitor to arrive to a positive conclusion with the pCPA and is currently listed on the provincial formularies of Ontario, Alberta, Saskatchewan and Quebec.

 

About AbbVie Care

The AbbVie Care program is designed to provide a wide range of customized services including reimbursement and financial support, pharmacy services, lab work reminders and coordination, personalized education and ongoing disease management support throughout the treatment journey. For more information, consult www.abbviecare.ca.

 

About AbbVie

AbbVie is a global, research and development-based biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most complex and critical conditions. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance

 

health solutions for people around the world. For more information about AbbVie, please visit us at www.abbvie.ca and www.abbvie.com. Follow @abbvieCanada and @abbvie on Twitter or view careers on our Facebook or LinkedIn page.

-30-

 

 

Media:

Kim Hogan AbbVie Canada (514) 832-7288

kim.hogan@abbvie.com

 

 

References:

 

  1. SKYRIZI™ (risankizumab) [Canadian Product Monograph]. AbbVie Corporation, April 17,
  2. International Federation of Psoriasis Associations. Available at: https://ifpa-pso.com/wp- content/uploads/2017/01/Brochure-Psoriasis-is-a-serious-disease-deserving-global-attention.pdf. Accessed March 22, 2019.
  3. Mroweitz, , et al. Definition of treatment goals for moderate to severe psoriasis: a European consensus. Arch Dermatol Res. 2011 Jan; 303(1): 1–10.
  4. Levin, et al. Biologic fatigue in psoriasis. J Dermatolog Treat. 2014 Feb;25(1):78-82. doi: 3109/09546634.2013.826341.
  5. Canadian Dermatology Association – Psoriasis. Accessed on February 5, 2020. Available at: https://dermatology.ca/public-patients/skin/psoriasis/
  6. Papp K, Valenzuela F, Poulin Y, Bernstein G, Wasel N. Epidemiology of moderate-to-severe plaque psoriasis in a Canadian surveyed J Cutan Med Surg. 2010;14(4):167-174.
  7. Petrella RJ, Gregory V, Luciani L, Barbeau M . Characteristics of chronic plaque psoriasis in Canada: a retrospective database study. (PSS7) Poster presented at ISPOR 19th Annual International Meeting, Montréal, QC, Canada, May Accessed on February 5, 2020. Available at:
Posted on

Hollister Biosciences Inc. and ER71 USA Inc. “Easyriders” Enter into LOI for Proposed Joint Venture Agreement

Hollister Biosciences Inc. (CSE: HOLL, FRANKFURT: HOB) (the “Company“, or “Hollister“), a California based cannabis and hemp branding company with a vision to be the sought-after premium brand portfolio of innovative, high-quality Californian-grown cannabis & hemp products and ER71 USA Inc. (“Easyriders“) an iconic brand with millions of followers globally, are pleased to announce that they have entered into a letter of intent (the “LOI“) to complete a joint venture agreement (the “Joint Venture“, or the “Agreement“).  Upon completion of the Joint Venture, Hollister and Easyriders will collaborate on the development and marketing of co-branded hemp-based everyday premium product lines.  Execution of the Agreement is subject to obtaining consumer data and leveraging convenience store relationships to forecast revenue from a co-branded hemp product line.

Hollister is proud to announce its partnership with Easyriders as the brand’s official marketing partner. From the birthplace of the American Biker, Hollister is the first licensed and operational cannabis and hemp company in Hollister, California with a mission to embrace the outlaw roots of Hollister, while providing premium-quality hemp products.

Under the terms of the Agreement, Easyriders will contribute artwork, logos and package design for a series of pre-rolled products using hemp.  On an ongoing basis, Easyriders will be financially responsible for all design areas as well as packaging designs and be financially responsible for marketing that is a percentage of revenue for the co-branded product line. Hollister will be responsible for all aspects of production and procurement of underlying materials.  All production of hemp products will take place under Hollister’s supervision and licenses and Hollister will be responsible for all costs associated with production which includes the cost of producing and shipping the products.  Easyriders and Hollister will further explore the development and marketing of additional product SKU’s for hemp-based edibles, vapes, topicals, and beverages.  Revenue generated on the co-branded product lines will be shared 50:50 between Easyriders and Hollister.

The partnership between Hollister and Easyriders will be officially announced at the Dream House MJBiz VIP Event in Las Vegas, Nevada. The most-anticipated after-party of the MJBiz Conference presented by Farechild will take place on December 12, 2019, in close proximity to the famous Las Vegas strip. Hollister is the event’s premier sponsor, offering VIP’s an exclusive on-site adult consumption area in “The Den.”

Easyriders shared, “We at Easyriders are excited about the opportunity to explore this new category with a reputable company such as Hollister. Both companies are based in California and both have deep roots in the motorcycle world. It makes sense that we do this together.”

In discussing the partnership with Easyriders, CEO of Hollister, Carl Saling shared, “I cannot think of a better partnership. As Hollister, California is the birthplace of the American Biker, I feel we’re paying homage to the rebel spirit Hollister embodies with the official Easyriders partnership.”

About Easyriders.

In 1970, Easyriders established itself as a platform for motorcycle enthusiasts to immerse in the rugged, on-the-road lifestyle championed by the counterculture movement and greats including Steve McQueen, Peter Fonda, and Dennis Hopper. Issues of civil rights, the Vietnam War (and ensuing protests), political scandal, and the emerging generation gap fueled our obsession with wind-swept freedom and ingrained Easyriders with its overarching sense of rebellion.

More than a magazine, Easyriders is a lifestyle.

In celebration of our 50th anniversary, we are shifting with the times and expanding the brand to encompass exclusive, major-label product collaborations; insider events and music festivals; and a quarterly coffee table–style book — that’s four thick issues per year jam-packed with gorgeous photography and feature stories.

With a nod to our roots in independence, passion, and freedom, and with a newfound emphasis on international travel, design, and entertainment, Easyriders has flown full throttle into a new era. Join us as we embark on this next journey.

Website:  www.easyriders.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate“, “continue“, “estimate”, “expect”, “may”, “will”, “would”, “project“, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com

Posted on

Revive Therapeutics Announces Offering of $210,000 of Convertible Debenture Units

TORONTO, Feb. 05, 2020 – Revive Therapeutics Ltd. (“Revive”), a cannabis life sciences company focused on novel cannabinoid-based treatments for rare inflammatory diseases, is pleased to announce that it has issued 210,000 secured convertible debenture units (the “Debenture Units”) to arm’s length parties for aggregate gross proceeds of $210,000.

Each Debenture Unit consists of one (1) 12% secured convertible debenture (the “Convertible Debentures”) maturing three (3) years from the date of issuance and 20 common share purchase warrants of Revive (the “Warrants”). Each Warrant shall entitle the holder thereof to purchase one common share in the capital of Revive (each, a “Common Share”) at an exercise price of $0.07 at any time up to February 5, 2023.

The Convertible Debentures will have a maturity 36 months from the date of issuance (the “Maturity Date”) and shall bear interest at a rate of 12% per annum from the date of issue. Interest will accrue and be payable on the Maturity Date. The holder of the Convertible Debentures shall have the right to demand immediate payment of the Convertible Debentures, together will all accrued interest thereon, provided that such demand cannot be made prior to June 6, 2020.

The principal amount of each Convertible Debenture shall be convertible, for no additional consideration, into Common Shares at the option of the holder at any time prior to the close of business on the Maturity Date at a conversion price equal to $0.05 (the “Conversion Price”) per Common Share.

The proceeds from the issuance of the Convertible Debentures will be used for general working capital.

Neither the Debentures Units (and the Convertible Debentures and the Warrants forming part of the Debenture Units) have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and such securities may therefore not be offered or sold in the United States or to or for the account or benefit of a person in the United States or a U.S. Person (as defined in Regulation S of the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Debenture Units in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Revive Therapeutics Ltd.

Revive is a cannabis life sciences company focused on the research, development and commercialization of novel cannabinoid-based products. Revive’s novel cannabinoid delivery technology is being advanced to fill the medical needs for diseases and disorders such as pain, inflammation, and wound care. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory and liver diseases. For more information, visit www.ReviveThera.com.

For more information please contact:

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.

Tel:                  905.605.5535
Email:              mfrank@fbn.436.myftpupload.com
Website:          www.revivethera.com

Neither the Canadian Securities Exchange nor their regulations services provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Posted on

Hollister Cannabis Co. To Sponsor Exclusive Adult Consumption Area in “The Den” of Dream House MJBiz Event

Hollister Cannabis Co., is pleased to announce its sponsorship of the Dream House MJBiz VIP Event in Las Vegas, Nevada. The most-anticipated after-party of the MJBiz Conference presented by Farechild will take place on December 12, 2019, in close proximity to the famous Las Vegas strip. Hollister Cannabis Co. will be showcasing Hemp and THC products while offering VIP’s an exclusive on-site adult consumption area in “The Den.” The invite-only after-party promises to transport guests to a world of eccentric opulence as they peruse the many different rooms of the “Dream House.” A grand-bar in the foyer, a king’s table adorned with delicacies in the dining-hall, unforgettable photo-ops in the library and a 1.8-acre outdoor courtyard where guests will be able to experience a once-in-a-lifetime activity that will be sure to leave them on a high. “The Den,” will offer VIP’s an opportunity to sample Hollister’s Rebel Hemp Company’s first hemp product, Rebel Tea, alongside the brand’s flagship product, a hash-infused premium pre-roll.

The CEO of Hollister, Carl Saling shared, “We are thrilled to be the main THC sponsor of the Dream House event during the largest cannabis show in the world, MJBizcon.”

About Dream House MJBiz VIP Event by Farechild

For the last three years, the founders of Farechild produced the most anticipated after-party of MJBiz with their infamous DOPE Magazine Golden Ticket Party. This year, all eyes will be on the very first Farechild produced “Dream House” event. Farechild, and its partners, will host guests in an elaborate 10,000 square foot space just a stone’s throw from the famous Las Vegas Strip.

Posted on

Vireo Health Expands Partnership with Leaf Trade

The science-focused, multi-state cannabis company partners with leading cannabis wholesale technology platform

MINNEAPOLIS, Jan. 28, 2020 /PRNewswire/ — Vireo Health International, Inc. (“Vireo” or the “Company”) (CNSX: VREO, OTCQX: VREOF), a leading physician-led, science-focused multi-state cannabis company, today announced the expansion of the Company’s partnership with Leaf Trade to provide a wholesale order and fulfillment management platform in four states where Vireo operates. Leaf Trade is an omni-channel sales platform that allows Vireo’s wholesale business to come online quickly and easily in new markets as the Company expands its operations nationally.

Vireo Logo (PRNewsfoto/Vireo Health, Inc.)

Vireo uses Leaf Trade to manage wholesale ordering and fulfillment in Pennsylvania, Maryland, Ohio and New York, and other states in which the Company is licensed to sell medical cannabis products to third-party dispensaries. The Leaf Trade platform provides a convenient way for dispensaries to review and purchase items from Vireo’s ever-growing line of products and brands.

Leaf Trade is a technology platform for cultivators and dispensaries who want to optimize their wholesale ordering and fulfillment process. It provides a single, standardized system to ensure operational consistency. This helps cultivators deliver for their customers, eliminate costly fulfillment errors, and stay compliant with State-based regulations.

“As we continue to expand our wholesale operations, Leaf Trade’s innovative platform will enhance our sales capabilities and enable us to better serve the hundreds of dispensary customers we work with nationwide,” said CEO and Founder Kyle Kingsley, M.D. “Leaf Trade has been an important partner for almost two years and we are excited to expand our partnership into new markets.”

Vireo uses Leaf Trade to present their products in a one-to-one online storefront which allows dispensary operators to purchase from their mobile, tablet, or desktop computer. Lab testing results are available on each product listing, making it easy for dispensaries to understand exactly what they’re ordering and help protect patient safety.

By using Leaf Trade, Vireo no longer needs to accept orders from multiple entry points such as emails, calls, texts, website inquiries, etc. The omni-channel platform helps save time and effort for Vireo’s sales team and fulfillment departments. Leaf Trade also provides advanced sales data reporting, which enables a single, reliable source of sales figures to help develop accurate forecasts.

“We are thrilled to work with a leading multi-state operator like Vireo Health. The expansion of our partnership from one state to four, and growing, is clear evidence that the Leaf Trade platform can help fuel growth for cannabis wholesalers. We look forward to continuing to grow our relationship with Vireo and helping them expand nationwide,” says Leaf Trade President and Chief Revenue Officer, Michael Piermont.

About Vireo Health International, Inc.
Vireo Health International, Inc.’s mission is to build the cannabis company of the future by bringing the best of medicine, engineering and science to the cannabis industry. Vireo’s physician-led team of over 400 employees provides best-in-class cannabis products and customer experience. Vireo cultivates cannabis in environmentally friendly greenhouses, manufactures pharmaceutical-grade cannabis extracts, and sells its products at both company-owned and third-party dispensaries. The Company currently is licensed in eleven markets including Arizona, Maryland, Massachusetts, Minnesota, New Mexico, New York, Nevada, Ohio, Pennsylvania, Puerto Rico, and Rhode Island. For more information about the Company, please visit www.vireohealth.com.

About Leaf Trade
Leaf Trade is the leading B2B wholesale ordering platform operating in 16 (and counting) highly-regulated cannabis markets. Leaf Trade helps licensed sellers of wholesale cannabis create an online storefront where verified dispensaries have access to all of the brands they are allowed to purchase in their respective markets. Dispensaries enjoy easily placing orders right from their mobile phones, and the sellers have all the built-in supply chain management tools that help their sales, fulfillment, and accounting teams work together to successfully process and deliver orders smoothly, all while dramatically reducing the amount of time it takes to do so. Leaf Trade specializes in custom product features and partner integrations such as seed-to-sale and accounting tools to streamline operations. To learn more about Leaf Trade, visit leaf.trade or follow us on LinkedIn, @leaftrade on Instagram, @leaf_trade on Twitter.

Contact Information

Media Inquiries
Albe Zakes
Vice President, Corporate Communications
albezakes@vireohealth.com
(267) 221-4800

Leaf Trade Media Contact
Maddie Hayden
3 Points Communication
maddie@3ptscomm.com
(c) 612-709-3212

 

CisionView original content to download multimedia:http://www.prnewswire.com/news-releases/vireo-health-expands-partnership-with-leaf-trade-300994152.html

SOURCE Vireo Health International, Inc.

Posted on

ATAI Life Sciences Announces Joint Venture with DemeRx to Develop Ibogaine For Opioid Use Disorder

BERLIN and MIAMI, Jan. 24, 2020 /PRNewswire/ — ATAI Life Sciences AG (“ATAI” or the “Company”), a global biotech platform that envisions an end to mental illnesses, today announced an investment in two separate joint ventures (JV) with DemeRx, a clinical stage pharmaceutical company focused on developing ibogaine and noribogaine for the treatment of opioid use disorder (OUD).

OUD represents a significant unmet medical need, particularly in the United States. In 2018 alone, 2.1 million Americans met the diagnostic criteria for OUD, while 47,600 people died from opioid overdoses. Current treatment options for OUD are limited and carry risk of significant side effects and abuse potential. Overall, relapse rates across substance use disorders are estimated to be between 40 and 60%, due in part to the lack of effective therapeutics and low patient compliance.

Ibogaine is a natural indole alkaloid derived from the West African iboga plant and has previously been marketed as a stimulant and antidepressant in France under the brand name Lambarène. Known for its oneirophrenic and hallucinogenic properties, uncontrolled data from hundreds of patients suggest that ibogaine is effective as both an acute detoxifier and treatment for opioid addiction.

The largest study of ibogaine to date, an open-label case series of 102 opioid dependent and 89 cocaine dependent subjects in St. Kitts, West Indies, found that a single low, orally administered dose of ibogaine significantly reduced opioid withdrawal scores 36-hours post treatment, while also reducing the severity of cravings and depression in both cohorts. Importantly, these positive effects persisted at a one-month follow up.

“Not only were patients able to safely and successfully transition into sobriety, we found no evidence of additional abuse potential,” said Dr. Deborah Mash, CEO of DemeRx and principal investigator on the St. Kitts study. “Given the limitation in currently available treatments, ibogaine represents an enormous leap forward for OUD sufferers.”

While complications related to ibogaine have been documented, most such cases appear to be due to prior medical conditions or drug interaction. Of 19 recorded fatalities between 1990 and 2008, none were found to be the result of ibogaine’s toxicity. Nevertheless, ibogaine therapy is contraindicated for those with cardiovascular issues, particularly in cases of prolonged QTc Interval or hypertrophic cardiomyopathy. The ibogaine JV will involve developing a treatment protocol that includes proper screening procedures, dosing guidelines, and administration best practices to ensure patient safety.

Ibogaine affects a variety of neurotransmitter systems, including serotonin, opioid, and NMDA receptors. In humans, ibogaine is metabolized into noribogaine, which may itself have applications as a follow-up or maintenance therapy; its potential as a separate treatment will be evaluated in the noribogaine JV. Although the exact mechanisms behind ibogaine’s dissociative psychedelic effects are unclear, it has been speculated that the dream-like state induced in patients leads to a kind of “brain reset” that is important for the therapeutic effects observed.

Due to the extensive database for ibogaine, including a substantial amount of human data, ATAI and DemeRx plan to submit Clinical Trial Applications for a Phase II study in opioid-dependent patients.

“We are very concerned about the opioid epidemic in the United States and around the world,” said Florian Brand, CEO of ATAI. “Together with DemeRx, we are committed to developing novel approaches to both treat and prevent opioid addiction.”

“This addition to our platform is particularly meaningful for us because it rounds out our focus on the essentials of mental healthcare, namely depression, anxiety – and now – addiction,” added ATAI founder Christian Angermayer. “Our values are aligned with the needs of underserved patients, so we see it as our responsibility to tackle the opioid crisis head on.”

About ATAI Life Sciences
ATAI Life Sciences AG is a global biotech platform and company builder founded by Christian Angermayer. Based in Berlin, London and New York, its vision is to cure mental health disorders, enabling people to live healthier and happier lives. www.atai.life

Company Contact:
Allan Malievsky
ATAI Life Sciences
Phone: +1 (917) 974-1371
Email: Allan@ATAI.life

Investor Contact:
Allison Soss
KCSA Strategic Communications
Phone: +1 (212) 896-1267
Email: ATAI@KCSA.com

SOURCE ATAI Life Sciences

Related Links

http://www.atai.life

Posted on

ATAI Life Sciences Announces Joint Venture with DemeRx to Develop Ibogaine For Opioid Use Disorder

BERLIN and MIAMI, Jan. 24, 2020 /PRNewswire/ — ATAI Life Sciences AG (“ATAI” or the “Company”), a global biotech platform that envisions an end to mental illnesses, today announced an investment in two separate joint ventures (JV) with DemeRx, a clinical stage pharmaceutical company focused on developing ibogaine and noribogaine for the treatment of opioid use disorder (OUD).

OUD represents a significant unmet medical need, particularly in the United States. In 2018 alone, 2.1 million Americans met the diagnostic criteria for OUD, while 47,600 people died from opioid overdoses. Current treatment options for OUD are limited and carry risk of significant side effects and abuse potential. Overall, relapse rates across substance use disorders are estimated to be between 40 and 60%, due in part to the lack of effective therapeutics and low patient compliance.

Ibogaine is a natural indole alkaloid derived from the West African iboga plant and has previously been marketed as a stimulant and antidepressant in France under the brand name Lambarène. Known for its oneirophrenic and hallucinogenic properties, uncontrolled data from hundreds of patients suggest that ibogaine is effective as both an acute detoxifier and treatment for opioid addiction.

The largest study of ibogaine to date, an open-label case series of 102 opioid dependent and 89 cocaine dependent subjects in St. Kitts, West Indies, found that a single low, orally administered dose of ibogaine significantly reduced opioid withdrawal scores 36-hours post treatment, while also reducing the severity of cravings and depression in both cohorts. Importantly, these positive effects persisted at a one-month follow up.

“Not only were patients able to safely and successfully transition into sobriety, we found no evidence of additional abuse potential,” said Dr. Deborah Mash, CEO of DemeRx and principal investigator on the St. Kitts study. “Given the limitation in currently available treatments, ibogaine represents an enormous leap forward for OUD sufferers.”

While complications related to ibogaine have been documented, most such cases appear to be due to prior medical conditions or drug interaction. Of 19 recorded fatalities between 1990 and 2008, none were found to be the result of ibogaine’s toxicity. Nevertheless, ibogaine therapy is contraindicated for those with cardiovascular issues, particularly in cases of prolonged QTc Interval or hypertrophic cardiomyopathy. The ibogaine JV will involve developing a treatment protocol that includes proper screening procedures, dosing guidelines, and administration best practices to ensure patient safety.

Ibogaine affects a variety of neurotransmitter systems, including serotonin, opioid, and NMDA receptors. In humans, ibogaine is metabolized into noribogaine, which may itself have applications as a follow-up or maintenance therapy; its potential as a separate treatment will be evaluated in the noribogaine JV. Although the exact mechanisms behind ibogaine’s dissociative psychedelic effects are unclear, it has been speculated that the dream-like state induced in patients leads to a kind of “brain reset” that is important for the therapeutic effects observed.

Due to the extensive database for ibogaine, including a substantial amount of human data, ATAI and DemeRx plan to submit Clinical Trial Applications for a Phase II study in opioid-dependent patients.

“We are very concerned about the opioid epidemic in the United States and around the world,” said Florian Brand, CEO of ATAI. “Together with DemeRx, we are committed to developing novel approaches to both treat and prevent opioid addiction.”

“This addition to our platform is particularly meaningful for us because it rounds out our focus on the essentials of mental healthcare, namely depression, anxiety – and now – addiction,” added ATAI founder Christian Angermayer. “Our values are aligned with the needs of underserved patients, so we see it as our responsibility to tackle the opioid crisis head on.”

About ATAI Life Sciences
ATAI Life Sciences AG is a global biotech platform and company builder founded by Christian Angermayer. Based in Berlin, London and New York, its vision is to cure mental health disorders, enabling people to live healthier and happier lives. www.atai.life

Company Contact:
Allan Malievsky
ATAI Life Sciences
Phone: +1 (917) 974-1371
Email: Allan@ATAI.life

Investor Contact:
Allison Soss
KCSA Strategic Communications
Phone: +1 (212) 896-1267
Email: ATAI@KCSA.com

SOURCE ATAI Life Sciences

Related Links

http://www.atai.life

Posted on

Spherix Launches Newly Redesigned Website

Highlighting the Change of Focus and Recently Acquired Anti-Cancer Therapeutics

NEW YORK, Jan. 21, 2020 /PRNewswire/ — Spherix Incorporated (Nasdaq: SPEX) today announced that it has redesigned the company’s website (www.spherix.com) to illuminate the overall digital transformation and recently acquired anti-cancer therapeutics. The new digital platform will emphasize on technology acquired from world renowned institutions such as The University of Texas and Wake Forest University. Our diverse portfolio of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML), and acute lymphoblastic leukemia (ALL). Treatments such as the DHA-dFdC identified by The University of Texas, has shown positive results in preclinical studies, inhibiting pancreatic tumor growth in clinically relevant transgenic models. In addition, Wake Forest University has provided a method of treatment for (AML) and (ALL) with the drug KPC-34. The launch of our redesigned website will reflect Spherix ongoing commitment to research in biotechnology development and oncological treatment.

Spherix Logo. (PRNewsFoto/Spherix Incorporated)

About Spherix

Spherix Incorporated, a Delaware corporation (the “Company”), was initially formed in 1967 and is currently a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics.  The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University.  Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipe to treat unmet medical needs in oncology.

www.spherix.com

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:              

Investor Relations:  

Hayden IR

Brett Maas, Managing Partner

Phone: (646) 536-7331

Email: brett@haydenir.com

www.haydenir.com

Spherix:            

Phone: 212-745-1373

Email: investorrelations@spherix.com

www.spherix.com

CisionView original content to download multimedia:http://www.prnewswire.com/news-releases/spherix-launches-newly-redesigned-website-300989345.html

SOURCE Spherix Incorporated

News Provided by PR Newswire via QuoteMedia

Posted on

Revive Therapeutics Provides Update on its Cannabinoid Program Initiatives for Drug Delivery and in the Prevention of Ischemia and Reperfusion Injury from Organ Transplantation

TORONTO, Jan. 20, 2020 – Revive Therapeutics Ltd. (“Revive” and the “Company”) (CSE: RVV), a cannabis life sciences company focused on novel cannabinoid-based treatments for rare inflammatory diseases, is pleased to provide an update, further to the Company’s announcement on January 6, 2020 regarding its clinical development plan on liver diseases, on the Company’s initiatives for its cannabinoid drug delivery program and its program of cannabidiol (“CBD”) in the prevention of ischemia and reperfusion injury (“IRI”) from organ transplantation.

“Revive is expanding its product pipeline by leveraging its FDA orphan drug designation for cannabidiol in the prevention of ischemia and reperfusion injury from organ transplantation,” said Michael Frank, Chief Executive Officer of Revive.  “We are focused on building a unique cannabinoid-based product pipeline that focuses on rare inflammatory diseases including autoimmune liver diseases, IRI and inflammatory skin diseases and disorders.  In addition to expanding our product pipeline, we are focused on partnering our product programs with cannabinoid-focused pharmaceutical companies, which we are currently in discussions with for both our  cannabinoid delivery system and rare inflammatory disease programs.”

Revive’s novel drug delivery technology aims to deliver both synthetic cannabinoids and natural extracts of cannabis in a potential number of ways such as topical gels, creams or ointments, oral or transdermal patches, and oral dosages.  The delivery technology is a natural, non-toxic, biodegradable and biocompatible composite that combines a tannin material, which is derived from a plant group having antibacterial, antifungal, antioxidant and wound healing properties, and a chitosan material, which is derived from the crustacean group having blood-clotting and antimicrobial properties.  The delivery technology has rapid onset of action and controlled or sustained release potential capabilities and may allow to combine multiple cannabinoids or cannabis extracts in one formulation.  The Company seeks to develop novel drug products leveraging its drug delivery technology targeting multi-billion dollar market opportunities in pain, inflammatory skin disorders (i.e. acne, psoriasis), and wound healing applications (i.e. battle wounds, scarring).

In addition, Revive aims to develop a clinical development plan for CBD in the prevention of IRI from organ transplantation of the liver, kidney, heart and lung.  The Company aims to have a pre-IND meeting with the U.S. Food and Drug Administration (“FDA”) to obtain feedback of Revive’s intended clinical development plan.  The FDA granted the Company orphan drug designation for CBD in the prevention of IRI resulting from solid organ transplantation.

Revive’s program is to meet a clear unmet medical need in the prevention of IRI solid organ transplantation.  According to the U.S. Organ Procurement and Transplantation Network, there are approximately 115,000 patients waiting for solid organ transplants in the United States, with the four most common organs transplanted being liver, kidney, heart and lung. IRI in organ transplantation can result in a higher incidence of acute and chronic rejection, as well as long-term morbidity and mortality. Quickly restoring blood supply of ischemic organs as soon as possible is crucial for avoiding or reducing injury from ischemia, whereas strategies used to attenuate the damage induced by reperfusion, including ischemic preconditioning, ischemic postconditioning, and machine perfusion.  These strategies are expensive, sometimes hard to perform in clinical surgeries, and difficult in maintaining organ functions in the case of acute injuries. With the shortage of organs and expensive medical strategies, it is clear that therapies need to be researched to optimize the quality of the organs that are available and to attenuate injury to transplanted organs. Revive believes that the immunosuppressant and anti-inflammatory protective effects of CBD may provide a novel, more beneficial strategy to attenuate the damage induced by ischemia and reperfusion during solid organ transplantation.

ABOUT REVIVE THERAPEUTICS LTD.

Revive Therapeutics Ltd. is a cannabis life sciences company focused on the research, development and commercialization of novel cannabinoid-based products.  The Company’s novel cannabinoid delivery technology is being advanced to fill the medical needs for diseases and disorders such as pain, inflammation, and wound care.  Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory and liver diseases.  For more information, visit www.ReviveThera.com.

For more information please contact:

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.
Tel: (905) 605-5535
Email: mfrank@fbn.436.myftpupload.com
Website: www.revivethera.com