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Red Light Holland will acquire 51% stake in Acadian Exotic Mushrooms Ltd.

Red Light Holland to Partner with Leading Fresh and Dried Mushroom Producers on East Coast Facility

Red Light Holland Corp. (TRIP), an Ontario-based company that sells truffles in the Netherlands, will acquire 51% of Acadian Exotic Mushrooms Ltd. (AEM), a mushroom production facility that is expected to produce 5,000 lbs of Shiitake mushrooms per week. Red Light Holland’s CEO, Todd Shapiro is excited to have another revenue generating farm, which has potential to serve as a psilocybin production site in the future. Shapiro envisions throwing concerts on the land, a 4 acre plot in Eel River Crossing, New Brunswick.

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Mydecine’s psychedelic compound shows “blockbuster potential”, according to Roth Capital Partners

Roth says Mydecine Innovations has blockbuster potential with its MYCO-001 psychedelic therapy as it initiates coverage

Roth Capital Partners, a private investment bank in California, gave Mydecine Innovations Group Inc. (MYCO) a ‘buy’ rating with a C$3  target based on the “blockbuster potential” of its pyschedelic compound, MYCO-001. Mydecine expects to complete advanced clinical trials for PTSD and smoking cessation within the next 18-24 months. Based on this timeline, Roth believes that MYCO-001 could be introduced to the US market for smoking cessation in 2026, and could reach $2.5 billion in sales by 2031 by capturing just 0.5% market. Roth predicts that MYCO-001 will take over 20% of the market for PTSD treatment by 2032, reaching $3 billion in sales.

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PsyBio Therapeutics (PSYB) begins manufacturing in France

PsyBio Therapeutics Initiates European Manufacturing of Proprietary Biosynthetic Psychedelic Compounds including Psilocybin with France-based Biose Industrie

PsyBio Therapeutics Corp. (PSYB), a Florida-based biotech company, began manufacturing their biosynthetic psilocybin formulations for further testing at a certified facility in France. PsyBio partnered with Biose Industrie to support their European expansion, a company with over 70 years of experience in commercializing pharmaceuticals with live bacterial strains. “Our partnership with Biose will further our research and development goals and demonstrate our commitment to the development of globally-tested and approved therapeutics,” PsyBio’s Chief Medical Officer stated.

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Revive Therapeutics brings psychedelic treatment and education to the Caribbean

Revive Collaborates With University of Health Sciences Antigua To Pioneer Clinical Research of Psychedelics

Revive Therapeutics Ltd. will partner with the University of Health Sciences Antigua (UHSA) to open a psychedelic treatment center in the Caribbean. The center will treat substance abuse disorders and other mental health conditions using Revive’s psilocybin oral thin film patch. As part of the agreement, UHSA will establish a Master’s in Psychedelic Medicine program for students wanting to learn more about the field.

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Diamond Therapeutics begins study on very low doses of psilocybin

Diamond Therapeutics contracts BioPharma Services for Phase 1 clinical trial

While there have been few studies on microdosing psilocybin, Diamond Therapeutics Inc.’s preclinical research suggests that very low, non-hallucinogenic doses of psilocybin have potential for treating disorders like anxiety and depression. Diamond is now partnering with BioPharma Services Inc. to expand on this research in a new phase 1 clinical trial, which will explore a range of very low doses of psilocybin.

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Atai Life Sciences (ATAI) lists on NASDAQ, becomes third psilocybin company to list on major US stock exchange

atai Life Sciences Announces Pricing of Upsized Initial Public Offering

Atai Life Sciences (ATAI), a German biopharmaceutical company studying psilocybin treatment, began trading on the NASDAQ at $15 per share. Gross proceeds are expected to be $225 million. ATAI is the third psilocybin-focused company to go public on a major US stock exchange, following MindMed and Compass Pathways.

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Here to Serve Holding Corp. acquires stake in South Korean psilocybin company

Here to Serve Holding Corp. Acquires 15% Ownership in Kaiyon Biotech Inc., a Psilocybin Biotech Company

Here to Serve Holding Corp. (HTSC), a holding company that searches for undervalued assets, acquired a 15% non-dilutive stake in Kaiyon Biotech Inc. through its subsidiary, ICF Industries. Kaiyon Biotech Inc. is a South Korea based company that received approval from the Korean Food and Drug Administration (KFDA) to study the positive effects of psilocybin. President of ICF Industries says the doctors at Kaiyon are “early recipients” of the KFDA approval and believes that they are “amongst the best in the world”.

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Cybin targets general and social anxiety with new proprietary pyschedelic molecule

Cybin Selects Anxiety Disorder Indications for Proprietary Psychedelic Molecule CYB004

Cybin Inc. (CYBN) announced that their new psychedelic molecule called CYB004 will target social anxiety disorder (SAD) and general anxiety disorder (GAD). Cybin’s Chief Clinical Officer says that anxiety disorders have increased three-fold during the COVID-19 pandemic, increasing the global market size to an estimated US$1.15B for SAD and US$2.99B for GAD. Cybin hopes to tap into this market, as many patients do not respond well to current anxiety medications such as SSRIs and SNRIs.

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Field Trip’s psychedelic compound produces a two to four hour trip, half the duration of psilocybin

Field Trip Health Ltd. Announces Completion of DMPK Studies, Engineering Batch for FT-104, Its Novel Psychedelic Compound

Field Trip Health Ltd. (FTRP) has completed the initial drug metabolism and pharmacokinetic (DMPK) studies for its psychedelic compound FT-104. The studies found that the psychedelic effects from FT-104 last for just two to four hours, about half the time as a psilocybin trip, making it more “clinically efficient and accessible”. Field Trip is now looking to apply for Phase 1 human trials after confirming that the compound is easy to synthesize and has low risk for addiction.

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Mindset’s COPE program provides benchmark data to measure success of new psychedelic drug formulations

Mindset and InterVivo Solutions Announce Availability of First Preclinical Psychedelic Benchmark Data from COPE Program

The first psychedelic benchmark data was made available through the Cooperative Psychedelic Evaluation Platform (COPE), a program started by Mindset Pharma Inc. and InterVivo Solutions in March. The benchmark data is used to measure the success of new psychedelic drug formulations and “will undoubtedly help the value assessment of newer psychedelics in development”, according to Chief Scientific Officer of InterVivo. The data on psilocybin suggests that “the clinical exposure levels reported in humans correlates well to exposure and efficacy measures observed in mice”.

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