Psychedelic Business Spotlight – January 21

Eleusis to Become Public Company in Merger with Silver Spike Acquisition Corp. II

This week in psychedelic business news, another psychedelic medicine company is headed to the Nasdaq. Silver Spike Acquisition Corp. II (Nasdaq: SPKB) has signed a definitive business combination agreement with Eleusis to form Eleusis Inc., a new holding company, which will apply to have its common stock listed on Nasdaq under the symbol “ELEU.” Eleusis was founded in 2013, and has developed a proprietary psilocybin-based drug candidate to treat depression, formulated for IV infusion rather than oral or topical application. ELE-Psilo is expected to enter Phase I trials in 2022, pending regulatory authorization.

Blue Water Ventures International Acquires Psycheceutical

In other psychedelic business acquisition news, Psycheceutical, a biotechnology company devoted to developing psychedelic medicines, has been fully acquired by Blue Water Ventures International (OTCPK: BWVI) by way of a merger. BWVI intends to cease its previous business activities and the company will focus solely on psychedelic drug development. A name and symbol change is forthcoming.

Optimi Health Submits Provisional Patent for Natural Psilocybin Combined Drug Delivery and Extraction Formulations

Optimi Health Corp. (CSE: OPTI) (OTCQB: OPTHF) (FRA: 8BN) filed a second provisional patent for a proprietary two-part processing method that involves the extraction and transdermal delivery of psilocybin active components. “The most novel part of this process is that we are performing two very different functions with a single unique component,” explains Chief Science Office Justin Kirkland. “This component works much like the attraction and repulsion properties of a magnet with a North and South end. We leverage this energy to perform two functions. First, the attraction energy will extract psilocybin out of the mushroom. Second, when this same material is applied to the skin, it will advance the drug through the skin and into the bloodstream.”

Mydecine Launches Special Access Support and Supply Program in for Canadian Healthcare Providers to Secure MDMA and Psilocybin

In wake of Health Canada’s Special Access Program being amended to allow for the use of psychedelics including psilocybin and MDMA, biotechnology company Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) launched its Special Access Support and Supply Program (SASSP) to provide products and services to physicians, clinics, and hospitals in Canada who are looking to treat patients through psychedelic-assisted psychotherapy. Mydecine is currently producing cGMP certified pharmaceutical grade psilocybin and MDMA with coverage under a Health Canada Schedule 1 Drugs and Substances Dealer’s License in Alberta. Through SASSP, healthcare practitioners can acquire the psychedelic compounds along with investigative brochures, therapy manuals, protocol training, advisory services, and post-therapy support for patients through Mydecine’s wholly-owned subsidiary Mindleap Health — a digital health platform that combines therapeutic and educational content with virtual 1-on-1 professional support for psychedelic integration.

Data-Driven Psychedelics Platform Nucleus Launches

And yet another psychedelic business launched this week. South Florida-based digital platform Nucleus offers thousands of mental health resources, data points, documents, treatment centers, therapists, and coaches in an extensive database intended to aid users in improving their mental health. Researchers, investors, brands, and wellness practitioners can utilize the platform, too, through various offerings such as Neuly, a subscription-based data platform for industry professionals, and Psyrise, a marketing partner for brands.