Welcome to the News You Might Have Missed, a weekly roundup of psychedelic medicine headlines 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.
Investment star Cathie Wood has been getting into psychedelics pretty heavily as of late. Now her ARK Invest analysts have released a Psychedelic Research Report that dives deep into the sector’s potential.
The report gives the usual look at trial costs and market size projections, but also digs into estimated and comparative prices of future treatments, an analysis not often presented to public audiences and retail investors.
Mydecine has signed a letter of intent for the sale of its digital technology subsidiary, Mindleap Health to PanGenomic Health for $4,000,000, payment to be issued in shares of PanGenomic.
Mydecine says it’s cutting costs and narrowing its scope, focusing on its drug development programs. Let’s see if the proceeds from this sale will be used to re-focus on their clinical trials, or if this was just a move to liquidate some final assets.
James Lanthier, CEO of Mindset Pharma. “The discovery of these new families further expands our rich pipeline and provides a unique serotonergic receptor profile supporting our goal to design new and elegant drug candidates with increased receptor selectivity and potency profiles. Pre-clinical screening of the new families has shown promising results thus far and we are eagerly looking forward to advancing Mindset’s continued innovations into these new, chemically distinct drug families.”
“To commence dosing in our first-in-human Phase 1/2a trial is a tremendous milestone for Cybin, especially having reached the clinic within just 18 months. Our goal continues to focus on becoming a leader in creating the best psychedelic therapies for patients and today we have moved one step closer,” said Doug Drysdale, Chief Executive Officer of Cybin. “Through our rigorous preclinical work and ongoing clinical development of CYB003, we believe we have the potential to unlock the powerful benefits of psilocybin for the treatment of MDD without its well-known limitations.”
“We are delighted to receive authorization to proceed with our planned efficacy clinical trial of FSD201 from both FDA and Health Canada. We are working with our clinical sites in the U.S. and Canada to initiate the study and intend to release more details on the study very soon,” said Dr. Lakshmi Kotra, CEO of FSD Pharma subsidiary Lucid Psycheceuticals. “We believe FSD201 is a compelling drug candidate, and we are actively exploring opportunities for development partners and other synergistic collaborations that will maximize shareholder returns.”
Wesana announces that it successfully completed a transaction (the “Sale Transaction”) to sell the Management Services Organization (“MSO”) assets as part of the Company’s Care Delivery segment for a total consideration of USD$2,100,000.
“The sale of the MSO is an important step in our transition towards a more focused and streamlined company,” commented Daniel Carcillo, Chairman and Chief Executive Officer of Wesana. “After a thorough assessment of Wesana’s strategy and assets, the Board concluded that a sale of the MSO would provide Wesana with the ability to continue pursuing current initiatives with a strengthened balance sheet. We anticipate the transition to be seamless for the clinics’ patients, employees, and stakeholders.”