Psychedelic Business Spotlight: November 12

Ketamine One Announces IPO Intention for 2022 

In psychedelic business stock news, medical clinic operator Ketamine One has announced it expects to go public in the United States in the first half of 2022. The initial public offering (IPO) is likely to be for up to $20 million of Ketamine One’s common shares. 

Prototype of PharmaTher’s Microneedle Patch Ready for IND-Enabling Studies

In psychedelic research news, biotechnology company PharmaTher announced this week that its proprietary microneedle patch for the intradermal delivery of psilocybin is one step closer to being available for patient use. The company said it had completed its first study using the patch and that it now has an acceptable prototype for completing Investigational New Drug (IND)-enabling studies to conduct clinical studies in 2022.

Numinus Wellness to Host Canadian Sites of MAPS’ MDMA-Assisted Therapy for PTSD Trial

Psychedelics-focused mental health care company Numinus Wellness has acquired two new clinic sites in Canada that will be used for the Multidisciplinary Association for Psychedelic Studies Public Benefit Corporation’s MDMA-assisted therapy for post-traumatic stress disorder research. The clinics, located in Montreal, Quebec, and Vancouver, British Columbia, will also allow the company to expand its clinical activities in these provinces, including its ketamine-assisted psychotherapy program.

Compass Pathways Demonstrates Psilocybin’s Ability to Decrease Depressive Symptoms Rapidly

The results from the largest psilocybin trial ever conducted are in, and Compass Pathways has demonstrated the drug’s ability to reduce depressive symptom severity for patients with treatment-resistant depression rapidly. A single dose of the company’s COMP360 psilocybin therapy generated a response that lasted up to 12 weeks. However, the majority of study participants experienced treatment-emergent adverse events. This included a dozen patients who experienced severe effects such as suicidal behavior.  

Cybin Unveils Data Suggesting its Novel Psilocybin Analog May Be Superior to Oral Psilocybin

Biopharmaceutical company Cybin this week released data suggesting its novel psilocybin analog may be superior to oral psilocybin for treating mental health disorders. The company says its analog can address the challenges associated with oral psilocybin, including a slow onset of action, extended duration of effect, and variability of patient response. By overcoming these limitations, Cybin’s analog could potentially lead to a reduced time and resource burden on patients, providers, and payers and improve the accessibility of treatments.

First Patient Dosed in Diamond Therapeutics’ Low-Dose Psilocybin Clinical Trial 

The first patients have been dosed in Diamond Therapeutics’ first-of-its-kind trial evaluating the effect of low doses of psilocybin in humans. The aim of the trial, being held in Toronto, Canada, is to identify a safe and non-hallucinogenic dose of psilocybin. The company believes low, non-hallucinogenic doses of psilocybin can enhance motivation and attention, indicating their therapeutic potential for psychiatric disorders such as anxiety and depression. 

Nova Mentis Patents Diagnostic and Therapeutic Combination Related to Neuroinflammatory Diseases

In psychedelic business patent news, Nova Mentis Life Science Corp. has filed a patent for its diagnostic and therapeutic combination of mRNA molecules that encode proteins involved in the development of neurodegenerative diseases, such as fragile X syndrome and autism spectrum disorders. The company says the ability to penetrate the unique genetic language that underlies the development of these diseases could lead to breakthrough psychedelic medicines.