This week in psychedelic business news: Mindset Pharma files another patent for compounds with "perfect microdosing drug profile," and Core One Labs is preparing to capitalize on functional mushroom market.
It's been a quiet week for the psychedelic business as we all prepare to transition into the new year, but still, some exciting developments nonetheless round out a very eventful 2021, which sets up the industry for a bigger, better 2022.
Mindset Pharma Files International Patent for Family 3 Microdose Compounds
After filing a provisional application with the United States Patent and Trademark Office earlier this month, psychedelic medicine company Mindset Pharma hopes to secure international protection for its family 3 novel psychedelic compounds.
The company says their proprietary formulations have demonstrated half-lives extending well beyond those exhibited by comparable classical psychedelic drugs with no significant reduction in binding affinity at the serotonin 5-HT2A receptor, which is a serotonin receptor in the brain that is an important target for psychedelic drugs such as psilocybin and LSD.
“Our family 3 compounds are substantially differentiated from the other families that we are pursuing in that we believe they may demonstrate pro-cognitive benefits at doses without hallucinogenic liability. This paired with their longer half-lives makes them interesting drug candidates for treating more fragile population groups such as children or geriatric patients where the psychedelic effect is likely undesirable,” says Joseph Araujo, CSO of Mindset. “Also, we believe that such compounds may be optimal for indications in which a long term, micro-dosing, paradigm is advantageous, such as ADHD or Alzheimer’s disease.”
Mindset Pharma CEO James Lanthier had previously described this Family 3 compounds as having the “perfect microdosing drug profile,” which is a big focus for the company, and the psychedelic business, overall. There's a lot of public interest in the increasingly popular practice of taking a psychedelic dose so small there isn't any hallucinogenic effects, while still experiencing improved mood and mental clarity. Even former “Daily Show” host Jon Stewart expressed interest in giving it a shot. Meanwhile, recent research also suggests psychedelics have the potential to treat dementia and Alzheimer's disease.
Core One Labs Acquires Functional Mushroom Company New Path Laboratories
Core One Labs Inc. is now well positioned to further capitalize on the functional mushroom market after completing the acquisition of all of the outstanding share capital of New Path Laboratories Inc., a Canadian company dedicated to the development and licensing of natural health products and dietary supplements incorporating functional mushrooms to help support every day biological functions in the maintenance of good health.
Although psilocybin, the hallucinogenic compound found in over 200 species of mushrooms, is all the rage as the psychedelic movement continues to gain traction, lots of other species that don't make you trip have proven beneficial as well. Taking a daily dose of Chaga, Lion’s Mane, Reishi, Maitake, Cordyceps and Turkey Tail is becoming as common as Vitamin C and coffee in the morning. In fact, Psychedelic Spotlight even tried replacing coffee with mushroom latte earlier this year, and found it to be a tasty alternative that delivers more energy with significantly less caffeine.
Core One CEO Joel Shacker said, “This acquisition further extends the Company’s presence in the functional mushrooms space and also will allow the Company to generate sales revenue by virtue of adding retail distribution channels to its business model and reach an exponentially growing consumer base.”
That's it for notable psychedelic business news this week! Have a happy New Year! If you're curious for psychedelic industry highlights of 2021 and what to expect in 2022, watch The Psychedelic Investor, James Halifax, share his year in review and forecast below.