Mindset Pharma Announces Appointment of Clinician Scientist, Dr. Ishrat Husain, to Scientific Advisory Board
A new psychedelics fund launches in the US
Leading U.S.-Based Psychedelic Healthcare VC Fund Launches with $35 Million Raised to Tackle the Growing Global Mental Health Crisis
Another $35 million was just invested into US psychedelics companies.
Palo Santo, a US venture capital investment fund, invested $35 million into psychedelic research, exceeding its $30 million goal. The portfolio consists of 20 early-stage psychedelic companies with high growth potential including Atai Life Sciences, Reset Pharma, Field Trip Health, Tactogen, Eleusis, Bexson Biomedical, and more. Palo Santo’s team of investors will actively support each company in the portfolio by connecting founders, advisers, and industry leaders through their vast network in the healthcare space.
A game changer for psychedelic research in Canada
Knowde Group Inc.™ Enters Into a Strategic Partnership with LMC Manna Research to Drive Quality and Collaboration in the Conduct of Cannabis and Psychedelic Clinical Trials.
A new partnership may accelerate psychedelic research across the country to tackle the mental health crisis.
A psychedelic research organization, Knowde Group Inc., entered into a strategic partnership with Canada’s largest network of outpatient clinical research sites, LMC Manna Research. LMC Manna has 23 research sites across 3 provinces and has participated in 2,000+ clinical trials over 25 years. The collaboration will give Knowde Group access to a diverse database of over 1 million patients and strategic advisory for conducting Phase 1-4 clinical trials in psychedelic and cannabis medicines.
Red Light Holland Expected Merger Partner Creso Pharma Completes Acquisition of Halucenex Life Sciences Inc
Psilera Bioscience, a Florida startup treating illness with magic mushrooms, receives $2.5 million
How Daniel Carcillo changed his life with psilocybin
Wesana Health Announces Definitive Agreement to Acquire PsyTech Inc.
Former Chicago Blackhawks player Daniel Carcillo was battling a severe case of traumatic brain injury (TBI) after enduring hundreds of fights throughout his NHL career. He suffered from several related side effects such as slurred speech, headaches, memory issues, insomnia, impulsive behaviour, sensitivity to light, and depression. Carcillo admits that he spent three weeks creating a plan to take his own life before magic mushrooms turned his life around. After taking a single 4g dose of shrooms, he said “I am cured, for sure, of TBI and any related symptoms. 100%.”
The experience led Carcillo to found Wesana Health (WESA), an organization focused on psychedelic treatments for traumatic brain injury and mental health disorders. This week, Wesana Health acquired PsyTech Inc., a psychedelic therapy firm in Toronto, to help accelerate the company’s growth. The deal provides Wesana with a clinical software-as-a-service platform that integrates wearable biometric technologies and will increase the number of clinics from 2 to 12 within the next year.
Two new companies join psychedelic ETF
Optimi Health Joins First Psychedelic Exchange Traded Fund
PSYK, the world’s first psychedelic ETF that launched in January 2020, was rebalanced for the quarter based on respective float market capitalization. Optimi Health (OPTI) and Atai Life Sciences (ATAI) were added to the fund at 1.9% and 5.0% respectively, and Cybin (CYBN) accounts for the largest stake at 15.9%. The chart below shows the distribution of the ETF’s 24 holdings as of July 9.
Cybin scales operations in Europe and expands IP
Cybin Expands to Europe and Provides Update on Intellectual Property Portfolio
After partnering with Greenbrook TMS last week, an operator of 129 mental health service centers in the US, Cybin continues to make big moves. The Toronto-based company announced that it will be transferring its intellectual property assets to a new wholly-owned subsidiary in Ireland as part of its European expansion plan. The company also filed its 13th provisional patent application for a digital therapeutics platform, which will use data analytics to improve patient outcomes in pre and post psychedelic treatments.
Atai gains celebrity support
Liam Payne becomes the latest star to invest in a depression treatment made from psychedelic drugs
Since debuting on the NASDAQ last month, Atai Life Sciences (ATAI) has gained support from some celebrity investors. Steve Bartlett, the youngest venture capitalist on Dragon’s Den, became Atai’s creative director, claiming that it is the most important company he has ever invested in. Bartlett believes that “if any company is to effectively tackle the global mental health crisis, it is $Atai.” He recently convinced One Director star Liam Payne to invest in the company, joining the American DJ Diplo.
The safest recreational drug becomes even safer
Mindset Pharma Announces Additional Preclinical Results Suggesting Superior Efficacy and Improved Safety in Head-to-Head Comparison to Psilocybin for its First Lead Clinical Candidate, MSP-1014
Magic mushrooms are the safest recreational drug according to a recent study, but Mindset Pharma (MSET) is working to make them even safer.
The company found that its patent-pending psychedelic compound, MSP-1014, may be more effective, safer, and more scalable than psilocybin. Researchers discovered that MSP-1014 more than doubled the head twitch responses in mice, an indicator of serotonin 5-HT2A receptor activity, which is tied to psychedelic experiences. MSP-1014 did not cause body temperature to drop, which was seen with psilocybin.