Psychedelic Business Spotlight: November 19

Mycotopia Therapies and Agile Pharmaceutical Solutions Developing Psychedelic Sublingual Tablet to Treat Depression

In psychedelic business news this week, Mycotopia Therapies and Agile Pharmaceutical Solutions have partnered to develop a new novel dosage method for psychedelics — a sublingual tablet. This delivery method offers faster absorption into the bloodstream than other oral medicines without the patient experiencing liver metabolism, which means psychiatrists can prescribe a small dose. Sublingual drugs also bypass the stomach, meaning they do not interact with foods or medications before absorption, avoiding interference by other medicines and gastrointestinal irritation.

MindMed Study to Investigate How Time of Day Influences LSD Microdosing

In the research space, biotechnology company MindMed has announced a new study investigating how the time of day of consumption influences LSD microdosing. Researchers will be using digital measurement devices and software to evaluate the effects of both daytime and evening administration of low doses of LSD on neuroplasticity markers such as BDNF plasma levels and various measures of sleep, mood, cognitive performance, regulation of emotions, quality of life, and immune system response.

Awakn Life Sciences Part of New Partnership Hoping to Improve Access to Psychedelic-Assisted Psychotherapy in the UK

Awakn Life Sciences has partnered with the Devon Partnership National Health Service (NHS) Trust and the University of Exeter in a bid to improve access to psychedelic therapies in the United Kingdom. The organizations have signed a Memorandum of Understanding which will establish a framework to assess the NHS’ organization readiness for ketamine-assisted psychotherapy and how best to accelerate the use of this therapy to treat alcohol use disorder and treatment-resistance depression within the NHS at scale.  

Novamind Expands Clinic Network with Acquisition of Arizona Mental Health Clinics  

In other psychedelic access news, mental health company specializing in psychedelics Novamind is expanding its clinic network outside of Utah for the first time. The company has signed a Letter of Intent to acquire Foundation of Change, an Arizona-based company operating two mental health clinics specializing in ketamine-assisted psychotherapy.

Way2Grow Biopharma Corp. to Construct Psilocybin Production Campus

In psychedelic production news, Health Canada has granted British Columbia-based life sciences company Way2Grow Biopharma Corp. a Health Canada Dealer’s Licence, permitting the company to construct a Level 8 Secure Environ and Psilocybin Production Campus. With the completion of this facility, the license will allow the company to cultivate, extract and store up to $30 million in psychedelic compounds, which can be sold to pharmacies, clinics, and other licensed facilities for research purposes.

Red Light Holland’s Psilocybin Truffles Demonstrate Viability for Scientific and Medical Use 

Last but certainly not least in psychedelic business news, this week Red Light Holland announced that its Dutch-grown psilocybin truffles had completed an evaluation at its Health Canada-approved cGMP laboratory in Montreal. The mushrooms, supplied in two shipments in March and August, have proven to be a viable source of psychedelic compounds for developing pharmaceutical-grade ingredients or standard doses for legal consumer markets. “This report is a step forward both for the recreational market, as well as the pharmaceutical market interested in naturally occurring psilocybin,” said Red Light Holland CEO and Director Todd Shapiro.