Psychedelic Business Spotlight – April 22

Mindset Pharma Files Provisional Patent for Next-Generation DMT Drug Candidates

Kicking off this week's psychedelic business news roundup, Mindset Pharma (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) has filed a provisional patent application that covers, if granted, next-generation DMT and 5-MeO-DMT, or ‘Family 4’, platform, currently under development. “Our expectation is that different patients will respond to different treatments and paradigms,” says CEO James Lanthier. “The Mindset ‘Family 4’ compounds have shown promise in efficacy and safety at a range of doses compared to first-generation DMT and 5-MeO-DMT compounds based on rodent pre-clinical models. Our strong IP position on this family enhances their commercial viability.”

Ehave's MetaHealthU Enters Market to Focus on HPPD

Ehave (OTC Pink: EHVVF) has decided to focus its MetaHealthU mobile platform on determining the cause, and finding a possible cure, for hallucinogen-persisting perception disorder (HPPD) after beginning research last fall. As Psychedelic Spotlight has previously reported, the syndrome was first established in 2000, and is characterized by visual effects form a psychedelic trip lingering for weeks, months, or even decades after the drug leaves their system. The condition can be frustrating, uncomfortable, and, in some cases, psychologically debilitating. As psychedelics become more widely accepted, the data and biomarkers from Ehave’s MetaHealthU will enhance research into HPPD, which will assist medical and mental health professionals diagnose if an individual is genetically predisposed to suffer from the condition. “We believe individuals are genetically predisposed to HPPD, which is why we will be conducting a large-scale genetic analysis to isolate an individuals’ risk profile,” says CEO Ben Kaplan. “Ehave's engineers have integrated a series of visual processing tests into MetaHealthU to measure HPPD objectively. Under medical supervision psychedelics are extremely safe. We believe focusing Ehave’s MetaHealthU mobile application platform on determining the cause and finding a possible cure for HPPD will lead to a better understanding of these molecules as a whole.”

Psyence, Filament Health Enter Exclusive Licensing Agreement for Natural Psilocybin Products

Biotechnology psychedelic business Psyence Group (CSE: PSYG | OTCQB: PSYGF) and clinical-stage natural psychedelic drug development company Filament Health (OTCQB:FLHLF) (NEO:FH) (FSE:7QS) have reached an exclusive licensing agreement for psilocybin. Filament will license its proprietary botanical drug candidate PEX010 (25mg) and the associated IP to Psyence for use in Psyence’s upcoming clinical trials in the United Kingdom, for the indications of anxiety and depression, and associated ailments, within the context of palliative care. “Partnering with Filament is a perfect complement to our expertise in both the cultivation and delivery of these substances to patients in need as we commence our palliative care clinical trial,” says Dr. Neil Maresky, CEO of Psyence. “Licensing Filament’s IP and leveraging their data and experience will allow us to expedite our UK clinical trial application.”

Wellbeing Digital Sciences Considers Selling Assets to Pathway Health

Wellbeing Digital Sciences (NEO: MEDI) (OTC: KONEF) (FRA: SQ2) has signed a memorandum of understanding with Pathway Health (TSXV: PHC) pursuant to which Pathway would acquire certain Canadian assets of Wellbeing, including a license for the pain management program of wholly owned subsidiary, IRP Health, and the intellectual property associated with the provision of intravenous ketamine services to treat mental health conditions, among other assets. If the transaction moves forward, it is expected to be completed in two stages, all concluding on or before June 30, 2022. Wellbeing's recently appointed CEO Najla Guthrie says the deal “would enable Wellbeing to continue on the path of evolving its competitive strategy focused on evidence-based mental healthcare through contract research and digital therapeutics.”

Nue Life Health Secures $23 Million in Series A Equity Financing

Nue Life Health, a psychedelic business founded in 2021 to focused on mental wellness, has completed its Series A equity financing, led by Obvious Ventures, as well as additional venture debt financing from Western Technology Investment, for a total funding of $23 million. Nue Life offers offers at-home ketamine therapy, virtual integration groups, and individual health coaching through its Nue.App and Nue.Portal, accessible in California, Colorado, Florida, Washington, New York, and Texas. The company says it will offer services in Georgia and Massachusetts in April, and an additional 20 states by the end of 2022.