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Core One Labs awaits patent for cost-effective biosynthetic psilocybin production system

Core One Labs’ Biosynthesized Psilocybin Provisional Patent Imminent

Vocan Biotechnologies Inc., a subsidiary of Core One Labs Inc. (COOL) is days away from receiving a patent for its biosynthetic psilocybin production system, which is more efficient and significantly cheaper than conventional methods of extracting psilocybin. The proprietary system aims to produce a reliable product that is consistent in quality and concentration while remaining comparable to naturally occurring psilocybin. Core One believes that there is a wide appeal for biosynthetic production as the psychedelics market grows, as “the need for a steady and consistent supply chain will also increase”.

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Mydecine discovered more than 40 new compounds with medical potential in various mushroom species

Mydecine Discovers Over 40 Groundbreaking Potential Pharmacologically Active Novel Compounds in Mushrooms

Mydecine Innovations Group discovered over 40 new compounds with medical potential when screening 25 mushroom species. Mydecine’s senior scientist, Duff Sloley, said that chemical components in many species, especially the poisonous ones, have not been researched. Sloley explained that the compounds are very complex because they’ve evolved to protect the mushrooms from predators. “Since these compounds are evolved to affect biological systems and aspects of metabolic pathways, they stand a higher chance of proving to be useful pharmaceuticals”.

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Field Trip Health Ltd. declares that it is a “world class company” by applying to list on the NASDAQ

Field Trip Health Ltd. Applies to List Its Common Shares on the NASDAQ Stock Market

After a successful listing on the TSX, Field Trip Health Ltd. applied to list on the NASDAQ Stock Exchange, which would allow US investors to support their growth. Field Trip executives state that this move declares to the public that they are a world class company, and that they are “positioned to be the global leader in the psychedelics industry”. Field Trip expects to commence with Phase 1 human trials of their proprietary psychedelic molecule by the end of 2021, and will have 20 health centers operating or under construction across the US, Canada, and Europe.

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Cybin aims to treat COVID-related distress in frontline healthcare workers using new psychotherapy model

Cybin Launches EMBARK and Co-Sponsors First Clinical Trial to Treat Frontline Clinicians Experiencing COVID-Related Burnout and Distress with Psychedelic-Assisted Psychotherapy

A new University of Washington study co-sponsored by Cybin aims to treat COVID-related depression, anxiety, burnout and post-traumatic stress in frontline healthcare workers using psychedelic-assisted psychotherapy. The study will test Cybin’s new transdiagnostic psychotherapy model called EMBARK, which is “aimed at delivering best-practice, supportive healing in conjunction with psychedelic therapeutics”. Cybin CEO Doug Drysdale says he considers it an honour to support the frontline workers who made great sacrifices for the public throughout the pandemic.

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Psychedelic “smart shops” to open in Jamaica

Psychedelic Mushroom Shops Reach The Americas

Many psychedelic companies are being drawn to Jamaica, one of the only countries where it’s legal to cultivate, extract, and sell psilocybin mushrooms. Silo Wellness is partnering with Mushe Inc. to open the first “smart shop” in the Western hemisphere, a psychedelic mushroom retail outlet that will sell functional and psychedelic mushrooms in various forms to locals and tourists.

Psyence Group formally began operations in Jamaica under its wholly owned subsidiary, Psyence Jamaica Ltd., which will focus on psilocybin treatment for patients in palliative care. To take on the new market, Psyence Jamaica is in collaboration with LONACAS Inc., a Jamaican clinical research company, and MycoMeditations, a “psilocybin wellness destination experience” in Treasure Beach, Jamaica.

Wake Network Inc. received clearance to conduct a “first-of-its-kind” clinical trial at a Jamaican university, which will study the effect of microdosing on depression and anxiety.

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Cybin’s psychedelic drug formualtion will target Alcohol Use Disorder

Cybin Selects Alcohol Use Disorder Indication for Psychedelic Molecule CYB003

Cybin announced that its proprietary new chemical entity (NCE), CYB003, will target Alcohol Use Disorder in response to increased alcohol use during the pandemic. CEO Doug Drysdale is optimistic that CYB003 will provide “a durable respite from alcohol dependence and the potential to overcome this often-crippling disease”.

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The psychedelic drugs market is expected to reach $10.75 billion USD by 2027, growing at a 12.36% CAGR

Psychedelic Drugs Market Size Is Projected To Reach $10.75 Billion By 2027

A recent report from Research And Markets predicts that the psychedelic drugs market will grow at a 12.36% compound annual growth rate from 2021 to 2027, reaching $10.75 billion USD by 2027. The rapid acceptance of the medical applications of psychedelics in the mental health sector fuels the growth of the market.

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Entheon’s psychedelics genetic test kit developed now available in Canada

Entheon Biomedical Corp. Launches HaluGen’s Psychedelics Genetic Test

Entheon Biomedical Corp. launched the first psychedelics genetic test kit through its subsidiary, HaluGen Life Sciences Inc. The kit includes a pre-screening mental health survey and cheek swab DNA test that will provide “genetic, personal and familial insights” to “better understand an individual’s sensitivity to classical psychedelics and ketamine”. The cheek swab tests for the HTR2A gene mutation,  a variant present in 20% of people that makes them more susceptible to strong hallucinations due to increased serotonin receptor density. Customers receive a personalized profile with sensitivity and risk reports to inform them before their next psychedelic experience.

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CEO and president of first psychedelic ETF, PSYK, says web traffic is up almost 50% as the new sector gains hype from investors

Investing in magic mushrooms: First psychedelic ETF debuts in Toronto

Horizons ETFs Management debuted PSYK in January 2020, an index of 17 Canadian and US life sciences companies focused on therapeutic applications of psychedelic drugs. President and CEO, Steve Hawkins, says “we haven’t seen this kind of hype for a new sector of the equity marketplace since cannabis in 2017” and predicts that the market is going to grow very rapidly. Hawkins says web traffic is up almost 50% and that the ETF is seeing very good traction from a press and media perspective.

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