Welcome to the News You Might Have Missed, a weekly roundup of psychedelic medicine news to help you catch up and stay informed. It was a busy week with lots of news, have a look and see you next week for another update.
atai Life Sciences has moved its most advanced clinical trial to the next level. Perception Neuroscience, atai’s subsidiary, has completed enrollment of Phase 2a double-blind, placebo-controlled clinical trial of PCN-101 (R-ketamine) for treatment-resistant depression.
The last patient is expected to be dosed this week, with the total number of patients expected to be around 100. Topline results expected around year-end 2022.
Algernon has entered an Investigator-Initiated Clinical Trial Agreement with Yale University for the investigation of multiple intravenous doses of DMT for the treatment of depression. The trial’s principal investigator is Professor Deepak Cyril D’Souza, an experienced researcher with DMT and other controlled substances.
As part of the CTA, Algernon will provide cGMP DMT for the study. In return, Algernon will jointly own intellectual property around the clinical use of DMT arising from the study.
Empyrean Neuroscience has launched with a $22 million Series A financing and a genetic engineering platform to advance a pipeline of neuroactive compounds targeting disorders of the central nervous system (CNS). The company is founded on a proprietary platform designed to genetically engineer small molecule therapeutics from fungi and plants. Veteran biotech executives Usman “Oz” Azam, M.D., Chief Executive Officer, and Fred Grossman, D.O., FAPA, Chief Medical Officer, lead the company.
Silo Pharma Announces Data Supporting Therapeutic Potential of SPC-14 for Alzheimer’s Disease in Pre-Clinical Study
SPC-14, a novel drug that combines an FDA-approved therapeutic with ketamine, is in development for the treatment of dementia related to Alzheimer’s disease. Initial data from its SPC-14 research studies shows that chronic dosing of SPC-14 resulted in increased memory in AD mice and had no negative weight effects on the subjects.
Albert Labs has published a corporate update highlighting the progress that has been made since closing its Series A private placement and some information on its future plans and activities. Highlights include patent filings, financing, and pipeline advancements.
“We feel that the strategy of parallel tracking work toward both UK and US regulatory approval reduces risk as compared to the single-track approach, while at the same time, increasing and accelerating our developments over the longer term. We will need to augment our resources to allow for the increased scope of work”, said Dr. Raymont, adding, “Over the next few months, we will be working on some key milestones, which we need to reach in order to deliver our treatment in the clinical setting.”
The company has announced the successful completion of its non-brokered private placement; the offering being oversubscribed with a final amount of $4,502,478 being raised, resulting in the issuance of 15,525,786 convertible preferred shares.
Cognetivity CEO Sina Habibi said “We are delighted to have completed this funding round with such a fantastic financial partner. SAYACORP is showing belief in our technology, strategy and team and is backing us to be a success in the huge global market for cognitive assessment, and their support is going to be enormously helpful in our development. Their backing allows us to take the company to the next level, to build on the early commercial success of our CognICATM clinical tool and grow our customer base and strategic partnerships in North America and elsewhere.