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Tryp Therapeutics (TRYP) aims to use psychedelics in eating disorder treatment

Dr. Jennifer Miller | Principal Investigator, Tryp Therapeutics

Tryp Therapeutics Inc. (TRYP), is conducting a phase 2 clinical trial that will investigate psilocybin’s effect on hypothalamic obesity conditions. Principal Investigator Dr. Jennifer Miller is confident that psilocybin therapy will reduce appetite drive, food-related anxiety, compulsive eating, and impulsive eating by rewiring neural pathways to alleviate the underlying psychiatric issues. She is hopeful that psilocybin could treat millions of patients with a wide range of previously untreatable, chronic conditions.

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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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Mydecine launches new AI drug discovery program

Mydecine Unveils Artificial Intelligence Drug Discovery Program

Mydecine Innovations Group (MYCO) partnered with the University of Alberta to launch a new AI drug discovery program that will make their research more efficient. The in-silico program uses machine learning and artificial intelligence to “rapidly screen hundreds of thousands of new molecules without the need to produce them, allowing Mydecine to focus on the strongest potential therapeutics”.

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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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New bill would end war on drugs after 50 years

First-Ever Congressional Bill To Decriminalize All Drugs Announced Ahead Of Nixon Drug War Anniversary

Reps. Bonnie Watson Coleman (D-NJ) and Cori Bush (D-MO) introduced a new bill, the Drug Policy Reform Act (DRPA) that would end incarceration for possessing any illicit drug. The bill will be filed on June 18, exactly 50 years after Richard Nixon declared a war on drugs that has contributed to racial inequality and higher incarceration rates than any other country. The DRPA would make it illegal to deny employment for simple drug possession or to require drug testing to receive federal benefits, and would also reinvest funds in harm reduction programs.

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Seven BC mayors sign letter in support of Vancouver’s proposal to decriminalize 15 illicit drugs

B.C. mayors lend support to Vancouver’s drug decriminalization plan

The City of Vancouver applied for an exemption from federal drug laws that would decriminalize the possession of 15 illicit drugs including psilocybin. Mayors from Victoria, Saanich, Nanaimo, Burnaby, New Westminster, Port Coquitlam and Kamloops all signed a letter in support of the so called “Vancouver Model”, recognizing that the current approach to the opioid crisis is ineffective. Saanich mayor Fred Haynes believes that if the exemption is granted, “there would be less police involvement, access to a regulated drug supply and less stigma around addiction”.

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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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