Red Light Holland (TRIP) filed a patent for a new (very strange) device that might inspire the psychedelic community to be more eco-friendly.
The devices, called Wisdom Truffles, are smart lights that provide real-time data on CO2 emissions from local electricity grids, plus suggestions for reducing emissions. Oh, and they can help you meditate too.
Three models are currently under development, including a handheld meditation aid that can track physiological changes while meditating or microdosing, as well as a life-sized figurine that uses AI to create interactive experiences based on dances and stretches. Don’t worry, we’re just as confused as you… Check out the devices here.
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Experts think magic mushrooms could be the key to creating healthier habits.
In pre-clinical trials, both low and high doses of psilocybin caused rats to gain less weight when given unlimited access to food. A consultant to NeonMind Inc. (NEON) stated that psilocybin can cause a decrease in hunger by targeting 5-HT2C receptors and can give patients a sense of well-being. He explains that using psilocybin to enhance psychotherapy may be able to instill long lasting behaviour changes such as improved diet and increased exercise.
This week, NeonMind completed an integrated drug development plan for NEO-001, its high dose psilocybin treatment for weight management, which is expected to be researched in a Phase 1/2 proof-of-concept study in early 2022.
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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.
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.
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.
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.
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TRYP THERAPEUTICS ANNOUNCES PLANS FOR PHASE 2A CLINICAL TRIAL FOR FIBROMYALGIA WITH THE UNIVERSITY OF MICHIGAN
Current treatments for fibromyalgia are often ineffective, with less than 10% of patients adhering to treatment for more than a year and 30% resorting to opioids to relieve pain.
Tryp Therapeutics (TRYP), a BC psychedelics company, is working to change this with psilocybin medicine.
This Wednesday, Tryp announced that it will be conducting a Phase 2a clinical trial to evaluate its oral formulation of synthetic psilocybin, TRYP-8802, in treating fibromyalgia, a chronic pain disorder that affects up to 8% of the population.
The trial will take place at the University of Michigan’s Chronic Pain & Fatigue Research Center and will be the world’s first trial of its kind. TRYP-8802 also shows potential to treat eating disorders, phantom limb pain, and complex regional pain syndrome by increasing neuroplasticity.
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