Psychedelic Business Spotlight – February 4

Levitee Labs Announces Interim CEO and Board of Directors Shuffle

This week in psychedelic business news, Levitee Labs Inc. (CSE: LVT) (OTC: LVTTF) (FSE: 7H7), a psychedelic medicine and wellness company, has appointed Philip van den Berg as Chief Executive Officer and to the Board of Directors, replacing Pouya Farmand, who will be moving to the position of founder and stepping down from the Board. “Pouya has done an incredible job taking the Company from an idea to a leader in the mental health and pharmacy wellness space today,” says van den Berg. “I will look to continue this aggressive growth pattern with a heavy focus on cutting-edge products, marketing techniques and acquisitions that I have learned through my years of experience.”

Mindset Pharma Initiating Proof-of-Concept Study for Next-Generation ‘Microdosing’ Drug Candidates

Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) is one step closer to a next-generation microdosing drug. The psychedelic medicine company, which recently partnered with Otsuka Pharmaceuticals to develop two families of compounds, has synthesized additional promising candidates from its Family 3, which are long-acting psilocybin side-chain restricted analogs, and will initiate Proof of Concept preclinical studies to further measure the viability of these compounds as daily pro-cognitive take-home medication. “Providing pro-cognitive solutions that do not elicit a psychedelic effect will suit vulnerable patient populations such as juvenile ADHD, Alzheimer’s disease, and a range of others,” says CEO James Lanthier.

Wesana Health and Mike Tyson Partner with Jones Soda for Nootropic Supplement

Mike Tyson continues to make his presence known in the psychedelic business and wellness world. The boxer and psychedelic medicine advocate worked with Wesana Health to create a distinct line of liquid supplements for focus, clarity and support brain health that Jones Soda Co. will bottle and distribute in the first quarter of 2022. The fruity flavors, inspired by Tyson’s personal mental health transformation through the use of natural, fungi and plant-based solutions, include Tyson’s Punch and Tiger’s Blood, which Tyson describes as “a cool combination of functional, nutritional ingredients with a bold taste and signature Jones twist.”

FDA Clears MindMed for First Commercial Trial of LSD in Decades

Biopharmaceutical company Mind Medicine (MindMed) (NASDAQ: MNMD), (NEO: MMED), (DE: MMQ) has been cleared by the FDA to proceed with a Phase 2b dose-optimization trial of proprietary drug candidate MM-120, a pharmacologically optimized form of LSD being developed for general anxiety disorder and other brain-based disorders. Robert Barrow, CEO and Director of MindMed, calls this “a major milestone for MindMed and for the industry as a whole,” because it’s the first commercial study of LSD in more than 40 years and builds on production discussions with the regulatory agency that can ultimately give this drug the green light. Barrow says, “The results of this trial will guide the dose selection and development strategy for our pivotal Phase 3 clinical trials, as well as deepen our scientific understanding of the clinical effects of MM-120 and its underlying mechanisms of action.”

Numinus Wellness Upgrades to OTCQX® Best Market and Becomes Licensed Psilocybin Producer for Health Canada

And last but not least in this round up of psychedelic business news, Vancouver-based Numinus Wellness started trading on the OTCQX last week under the symbol “NUMIF,” which CEO Payton Nyquvest calls “a first step towards further accessing U.S. based investors,” as the mental healthcare company in the psychedelic-assisted therapy space looks to expand clinics into the United States. Additionally, the company’s research facility, Numinus Bioscience, has been included on Health Canada’s list of federally licensed psilocybin producers in wake of a recent amendment to a special access program that allows for inclusion of psychedelic medicine on a case-by-case basis.