Small Pharma granted fast-track designation from UK regulator for DMT-assisted therapy for Major Depressive Disorder
DMT-assisted therapy could be approved in the UK sooner than expected!
Yesterday, Small Pharma (DMT) received an Innovation Passport Designation for its DMT-assisted therapy program for depression – a status given to promising medicines to expedite development. The passport gives the company access to the Innovative Licensing and Access Pathway (ILAP) to reduce time to market and facilitate patient access to the treatment.
The designation is essentially the UK’s version of a Breakthrough Therapy Designation, which the FDA granted to Compass Pathways (CMPS) and Usona Institute in 2018 and 2019, respectively, for their psilocybin-assisted therapy programs.
Small Pharma also launched a Phase 2a clinical trial for DMT-assisted therapy on Tuesday and began trading on the OTCQB market on Wednesday under the symbol “DMTTF”.