Here’s what’s in store for you in today’s issue:

🍄 A therapist’s experience with MDMA

🍄 Largest psychedelic neuroimaging study to date

🍄 Psilocybin for gut health

🍄 BC becomes first province to decriminalize illicit drugs

🍄 And more.

Hear insights from industry experts on the Daily Mushroom Podcast

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A therapist’s experience with MDMA

Sara Reed, licensed marriage and family therapist, tried MDMA therapy as part of MAPS’ training program. Her experience deepened her understanding of herself and helped her process the loss of her grandmother. 

“As the medicine and the music carried me away, my grandmother appeared. Tears flowed down my face and joy filled my heart. It had been years since I had felt her presence like this. Seeing her in this bright, liberating light was an important part of my grieving process.

She took me to a place I knew existed but had never seen. I traveled to what felt like the essence of the universe, a space of Divinity, a place where I belonged. The vision revealed my presence within this enormous Whole—a place that had no beginning or end, where there is no distinction or separation from love. I call that place home. And for the first time in my adult life, I felt freedom. Me, a young Black woman. Free. Human.”

The experience also made Sara realize that the psychedelics industry needs to prioritize culturally sensitive care to make treatments safer and more accessible for BIPOC communities.

Toad venom for Grandma

Could Alzheimer’s patients benefit from one of the most powerful psychedelics? 

Biomind Labs (BMND) will find out in an upcoming study.

The Phase 2 trial, which was just approved by the Argentinian Institutional Review Board, will see if 5-MeO-DMT can ease depression and anxiety in patients with Alzheimer’s disease.

World’s first psychedelic trade association

Cybin (CYBN), PharAla Biotech (MDMA), PharmaTher (PHRM), and 9 other companies joined forces to create Psychedelics Canada – the first ever national trade association for legal psychedelics companies.

The association will speak on behalf of the psychedelics industry to government, the press, and the public to advance psychedelic research and policy change.

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Largest psychedelic neuroimaging study to date

University College London is raising funds for the world’s largest brain imaging study on psychedelics, aka Project UNITy.

In the first phase of the study, 150 people will receive three brain scans: one while watching a movie, one while dosed with DMT or a placebo, and another while watching a movie post-DMT trip or placebo.

Then, researchers will use an app to track participants’ changes in wellbeing for one year. 

The study will reveal which specific brain networks are altered on DMT (such as those related to vision, memory, or language), as well as which networks are linked to positive changes in wellbeing.

If successful, a second phase of the study will be conducted to see if DMT can reduce alcohol consumption and “reactivate” memory networks in hazardous drinkers.

Those who make a contribution to the study can receive goodies like trippy artwork, event tickets, and even a dinner with the scientists.

Psilocybin for gut health

Shrooms are known to cause nausea, so you wouldn’t expect them to help with digestive issues.

However, the Toronto-based startup Dyscovry Science Ltd. is developing a synthetic psilocybin formulation to target irritable bowel syndrome (IBS). Psilocybin’s anti-inflammatory effect may help with the disorder.

The preliminary research must be promising because Silo Wellness (SILO) just entered into an agreement to acquire 100% of Dyscovry Science.


Update on Awakn’s ketamine study 🎮

Awakn Life Sciences (AWKN) filed an international patent application for its ketamine treatment for behavioural addictions like gambling, gaming, binge eating, and compulsive sexual behaviour. 

Plus, the company shared a bit more info on the “hugely promising” pilot study mentioned last week.

The treatment was found to reduce symptoms of addiction as well as comorbid conditions like depression and anxiety. Some patients no longer qualified for a diagnosis of addiction after the ketamine therapy.

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Wesana Health (WESA) reported Q1 financial results including a $4.8M net loss and $3.1M cash balance.

Optimi Health (OPTI) entered into psilocybin supply agreements with Filament Health (FH) and Halucenex Life Sciences just days after producing its first batch of mushrooms at its new cultivation facility. 

Novamind (NM) shared Q3 financial results including a record-high revenue of $3.2M, up 32% over the previous quarter.

atai Life Sciences’ (ATAI) CEO Florian Brandfiled was listed in the top 15 highest-paid CEOs in all of biopharma, earning over $26.5M in stocks and options in 2021. Excessive or well-deserved? 🤔

Lennham Pharmaceuticals filed a patent for a method of administering psilocybin to patients with reduced MAO-A activity, an enzyme that helps breakdown serotonin and dopamine.

Doseology (MOOD) received approval to trade on the OTC Pink Open Market under the symbol ‘DOSEF,’ making shares available to US investors.

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BC becomes first province to decriminalize illicit drugs

Yesterday, British Columbia received a 3-year exemption to decriminalize small amounts of opioids, cocaine, methamphetamine and MDMA.

“By removing the fear and shame of drug use, we will be able to remove barriers that prevent people from accessing harm reduction services and treatment programs,” says provincial health officer Dr. Bonnie Henry.

While it seems like a step in the right direct, the legislation is being criticized because it only allows possession of 2.5 grams of the drugs and it won’t be effective until January 31 of 2023.

Michigan city rejects decriminalization measure

With a 3-2 vote, the city of East Lansing, Michigan rejected a measure to decriminalize psychedelics. 

Mayor Ron Bacon worries that creating a grey area would pose challenges and liabilities for law enforcement.

You’re all caught up! See you next Wednesday 👋