The business side of the industry, how well is it doing? is it profitable? What does the future hold?
Allied Corp. (ALID) sourced the active ingredients to produce Psilonex™, its formulation of psilocybin, functional mushrooms, and vitamins. It will be used in conjunction with a daily dose of CBD in an upcoming clinical trial on depression, anxiety, and PTSD.
TripSitter Clinic Corp. now offers at-home ketamine therapy in 10 states!
The company, which is part of Origin Therapeutics’ portfolio, expanded its services to eight new states: Arizona, Colorado, Michigan, Washington, Florida, New York, Ohio, and Virginia, in addition to California and Illinois.
Patients can receive a prescription for oral ketamine after a virtual consultation a physician. They can then take the medication at home with virtual guidance, followed by therapy sessions.
Another company, My Ketamine Home, offers similar services in Texas, Florida, and California.
PharmaTher (PHRM) and Revive Therapeutics (RVV) are entering into a research agreement to develop psychedelic patches that could be used at home!
The biodegradable patches will use microneedles to deliver both micro and macrodoses of psilocybin, ketamine, MDMA, LSD, DMT, ibogaine, and mescaline. PharmaTher is currently studying the effects of the psilocybin microdose patch, with results expected by the end of this month.
The companies aim to create a delivery method that’s safe and convenient enough for patients to administer on their own, without supervision.
Using an AI drug discovery program, Mydecine (MYCO) successfully added a novel psilocin analogue with improved delivery and stability to its pipeline.
The AI technology synthesizes billions of drug candidates and filters them based on psychedelic-related targets such as how they bind to receptors.
Mydecine also filed a patent for nanoemulsion technology that can:
Cybin (CYBN) is sending therapists on a psychedelic retreat so they can learn how to provide support to frontline healthcare workers.
Clinical trial facilitators will head to a small island in Washington to be trained on Cybin’s new EMBARK therapy model and gain experiential knowledge of psychedelics. The EMBARK model combines aspects of several psychotherapy models and incorporates patients’ spiritual experiences, bodily experiences, and relationships into the healing process.
The retreat will prepare the facilitators for an upcoming clinical trial at the University of Washington that aims to treat healthcare workers suffering from COVID-related distress, depression, anxiety, and PTSD.
If treatments don’t improve, the number of Americans battling Alzheimer’s is expected to nearly triple by 2050, reaching $1.1 trillion in care costs.
Fortunately, two more companies joined the race to develop a new treatment using psychedelics!
On Tuesday, MYND Life Sciences (MYND) acquired IP rights from Cava Healthcare Inc. for dementia treatments using psilocybin and other psychedelics. It received the assets in exchange for 450,000 shares at $0.85 each, plus $120,000 and an annual royalty fee.
Silo Pharma Inc. (SILO) also joined the race this week through a sponsored research agreement. The company will work with Columbia University to develop a psychedelic treatment that could halt or reverse Alzheimer’s.
These companies are joining forces to develop unique treatments for a range of debilitating conditions.
Agtech Global International Inc. (AGGL) and KRTL Biotech Inc. are partnering to develop CBD and psilocybin-based medicines to treat conditions like ADHD, pain from cancer, autism, PTSD, depression, and addiction.
The agreement will leverage KRTL’s team of researchers in the US and Korea, where they have already received the Korean equivalent of FDA approval to study the compounds.
Several other companies are supporting the research project including Here To Serve Holding Corp. (HTSC) and Pervasip Corp. (PVSP).
This partnership could offer valuable services to producers across Canada.
Delic Labs of Delic Corp (DELC) is partnering with GT Research Inc. to help mushroom and cannabis producers optimize their products.
Through the deal, Delic Labs will use DNA analysis to evaluate the commercial value of different cannabis and psychedelic mushroom strains based on certain gene traits. The services will help Canadian producers optimize their compounds through genetic engineering to produce more effective plant medicines.
This week, Cybin Inc. (CYBN) completed its 74th preclinical study to advance its proprietary molecules, CYB003 and CYB004, toward clinical research.
The company has evaluated 50 novel compounds in its preclinical research, narrowing it down to four lead candidates. including CYB003 for alcohol use disorder and CYB004 for anxiety disorders. The formulations are showing faster onset times, shorter durations, high oral bioavailability, significant brain penetration, and less variability between subjects compared to classic psychedelics.
Human clinical trials are expected to commence early next year to work toward an Investigational New Drug (IND) status.
Want to be an early investor in a psychedelics company? Now’s your chance!
Ei.Ventures is currently looking to raise $50M through a Regulation A+ Framework – a type of offering that allows the general public, not just institutional or accredited investors, to buy shares in a company before it goes public.
“I’m really passionate about democratizing investment opportunities so any investor can reap the rewards, and take all of the risks of early investment in game-changing companies,” said David Nikzad, the company’s founder, who was an early investor in Airbnb , Betterment, and Vidyard.
Ei.Ventures is developing a transdermal psilocybin patch and is preparing to launch a functional mushroom line early next year. Shares are selling for $4.94 each with a minimum purchase of 101 shares, and the company has already raised $20M. Take advantage of the offer here.
