Biomind Labs (BMND) is launching a commercial clinical trial on its proprietary mescaline-based formulation. The drug targets inflammation, which the company believes is the root cause of many forms of depression.
Novamind (NM) is piloting a group therapy model for psychedelic sessions and integration sessions in groups of 4-10 people. Both drop-in sessions and multi-week programs will be offered.
Hazel Park became the third city in Michigan to decriminalize a range of psychedelics, following Ann Arbor and Detroit.
Activists continue to push for statewide ballot initiative to legalize the possession, cultivation, and sharing of natural psychedelics and set up a system for therapeutic use.
Tryp Therapeutics (TRYP) began enrolling patients for a Phase 2 trial on psilocybin for binge eating. The company is using non-proprietary synthetic psilocybin to generate data quickly while developing a proprietary formulation.
Mind Cure Health (MCUR) and Core One Labs (COOL) appear to be running out of money as they look for strategic takeover opportunities.
A bill that would create psychedelic treatment centers for psilocybin and MDMA therapy was approved by a legislative committee, advancing to floor consideration.
Treatments would be focused on veterans, first responders, healthcare workers, and those from underserved communities with life-threatening mental illness.
Doseology (MOOD), a BC-based company that sells functional mushrooms in the US and Canada, began trading on the Frankfurt Stock Exchange under the symbol “‘VU7”. The company has applied for a license to study psilocybin and plans to establish a psychedelic therapy clinic in Oregon this year.
The UK is on a mission to create a world-leading clinical research ecosystem that’s more efficient and effective than ever before – and many psychedelic companies are taking advantage of the regulatory changes.
To reach this goal, the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) now allows “real world data” (data collected from patients and healthcare systems outside of clinical trials) to aid in the drug approval process
This may bring psychedelic therapies to market much faster not only in the UK, but also in Australia, Canada, Singapore and Switzerland, as the MHRA joined a coalition with these countries called the Access Consortium.
Additionally, the UK may reschedule psilocybin to Schedule 2, reducing barriers to clinical research.
Just yesterday, COMPASS Pathways (CMPS) announced a strategic partnership to launch a major psychedelic research center in the UK.
Other companies to keep an eye on that may benefit from these changes include Albert Labs (ABRT), Awakn Life Sciences (AWKN), Small Pharma (DMT), Beckley Psytech, Eleusis.
