Psychedelics may be one step closer to decriminalization. All after the Director of the National Institutes of Health (NIH), Francis Collins touted the benefits of psilocybin and MDMA, as noted by Marijuana Moment. “There has been a resurgence of interest in psychedelic drugs, which for a while were sort of considered not an area that researchers legitimately ought to go after,” Collins said. “And I think as we’ve learned more about how the brain works, we’ve begun to realize that these are potential tools for research purposes and might be clinically beneficial.” That support could be beneficial for companies, such as NeonMind Biosciences (CSE:NEON) (OTC:NMDBF), Cybin Inc. (NEO:CYBN)(OTC:CLXPF), Mind Medicine Inc. (NEO:MMED) (NASDAQ:MNMD), HAVN Life Sciences Inc. (CSE:HAVN)(OTC:HAVLF), and Mydecine Innovations Group (CSE:MYCO)(OTC:MYCOF).
Studies have already shown that some psychedelics could be useful for treating anxiety, PTSD, opioid addictions, obsessive-compulsive disorder (OCD), and alcoholism. We may also soon learn psilocybin could potentially assist in treating eating disorders and obesity from a NeonMind Biosciences study. That's because psilocybin activates serotonin receptors, or "nature's own appetite suppressant," as noted by Psychology Today. "This powerful brain chemical curbs cravings and shuts off appetite. It makes you feel satisfied even if your stomach is not full. The result is eating less and losing weight."
NeonMind Biosciences (CSE:NEON)(OTC:NMDBF) to Commence Trading on OTCQB
NeonMind Biosciences announced that its shares will commence trading on the OTCQB® Venture Market on May 28, 2021, under the symbol “NMDBF”. NeonMind will continue to trade on the Canadian Securities Exchange under its existing symbol “NEON”.
The OTCQB, operated by OTC Markets Group Inc., is designed for early-stage and developing U.S. and international companies. Companies must be current in their financial reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. With more compliance and quality standards, the OTCQB provides investors improved visibility to enhance trading decisions. The OTCQB is recognized by the United States Securities and Exchange Commission as an established public market providing public information for analysis and value of securities.
“With this OTCQB listing, NeonMind has achieved a significant milestone in its mission to advance its psilocybin drug development programs,” said Robert Tessarolo, President & CEO of NeonMind. “We expect this listing to increase our financial capabilities and expand our exposure to the U.S. investment community. This capital markets support will be extremely valuable as we continue to execute on our long-term strategy to advance the use of therapeutic psychedelic compounds for weight management conditions including obesity, which is a growing global health crisis.”
Other related developments from around the markets include:
Cybin Inc., a biotechnology company focused on progressing psychedelic therapeutics, announced that it has filed an international patent application that brings the potential to obtain patent coverage in 153 countries. The application, governed by the Patent Cooperation Treaty, grants the Company the right to file future national applications into treaty member jurisdictions, including important potential markets for the Company. The PCT claims a library of psychedelic derivative drug development candidates.
Mind Medicine Inc., a leading psychedelic medicine biotech company, announced the publication of the first pharmacogenetic data on LSD to help personalize dosing. The study results from a pooled secondary analysis of four Phase 1 studies that each used a randomized, double-blind, placebo-controlled, crossover design and were conducted at the University Hospital Basel Liechti Lab, in Basel, Switzerland. The results of this study indicate that pharmacogenetic testing prior to LSD-assisted treatment may inform LSD dose selection at the individual patient level.
HAVN Life Sciences Inc., biotechnology company pursuing standardized extraction of psychoactive compounds and the development of natural health products, is pleased to announce a production and supply agreement with Lobe Sciences Ltd., an innovative biotech company committed to investigating and developing treatments using psychedelic and non-traditional medicines for better brain health. Pursuant to the Agreement, HAVN Life will produce and supply an offering of Natural Health Products, which will include plant-based compounds and non-psychoactive mushrooms. The Agreement with Lobe Sciences will create an additional revenue stream for HAVN Life, and the team will look to generate additional agreements in the coming months.
Mydecine Innovations Group said that it has received approval from Health Canada to “significantly expand” its cultivation capabilities at its current good manufacturing practice (cGMP) facility, at the Applied Pharmaceutical Innovation in Canada. The Denver, Colorado-based biopharma company focused on the research and development of alternative nature-sourced medicine, said that it would use the new guidance from Health Canada to expand its cultivation facilities and rapidly scale up the supply of pharmaceutical-grade psilocybin for both its internal clinical research and for its industry partners. “The increased cultivation will also allow the company to more efficiently and quickly study the medical utility of naturally occurring psilocybin and psilocybin-like compounds,” said the company.
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