Psychedelic Business Spotlight: October 15

Cybin Developing Inhalation for Delivery of Psychedelic Medicines

This week in psychedelic business news, biotechnology company Cybin revealed it is developing inhalation as a method of delivery for psychedelic medicines. The company has filed an international patent application related to its inhalation methods and devices used for carrying these methods out. Cybin said it expects inhalation to facilitate optimized psychedelic session timing compared to oral administration of the same compounds, lower doses of therapeutics while preserving efficacy, and give health care providers more control during psychedelic sessions. 

Clearmind Medicine Patents Drug-Assisted Psychotherapy Method

Clearmind Medicine this week also filed a provisional patent with the United States Patent and Trademark Office related to its proprietary methods of drug-assisted psychotherapy. The patent covers an unspecified method of deploying drug-assisted therapy for patients who are resistant to MDMA-assisted psychotherapy or for whom it has become ineffective, undesirable, or inappropriate.

FDA Backs PharmaTher’s Ketamine Treatment for Complex Regional Pain Syndrome

Psychedelic biotechnology company PharmaTher has been granted orphan drug designation by the United States Food and Drug Administration (FDA) for ketamine in the treatment of complex regional pain syndrome (CRPS) – a rare and debilitating condition with no approved medical treatment. PharmaTher said it expects to begin a Phase 2 clinical study using its proprietary cGMP ketamine product for CRPS in 2022.

Algernon Pharmaceuticals Seeks Advice on Phase 1/2 Human Study on DMT and Stroke

Pharmaceutical company Algernon Pharmaceuticals is progressing its research on the use of DMT in treating stroke, having applied to the United Kingdom Medicines and Healthcare Products Regulatory Agency for scientific advice on its proposed Phase 1/2 human stroke study. If approved, the company will evaluate if DMT can be used to treat patients who have suffered from both hemorrhagic or ischemic strokes. 

atai Life Sciences Launches Precision Psychiatry Platform Company PsyProtix

Biopharmaceutical company atai Life Sciences has launched its new platform company PsyProtix which will focus on developing therapeutics for treatment-resistant depression and other mental health disorders. PsyProtix will leverage precision psychiatry, an emerging field of psychiatry where physicians prescribe treatments based on each patient’s variability in genes, metabolism, environment, and lifestyle.

Drug Enforcement Agency Grants Novamind Psilocybin Research Licenses

Mental health company Novamind has been granted permission by the United States Drug Enforcement Agency (DEA) to study Schedule I controlled substances, specifically psilocybin. This will allow Novamind’s researchers to store and administer the drug, facilitating the company’s ability to host clinical trials at its research sites.

Silo Wellness’ Marley One Functional Mushrooms Listed for Sale on Amazon

On the consumer side of the psychedelic business, Silo Wellness is paving a path towards the de-stigmatization of psychedelic mushrooms by way of the functional category. The Toronto-based company’s Marley One functional mushroom line, a collaboration with the family of legendary musician Bob Marley, this week was listed on e-commerce giant Amazon. Shoppers in the United States can purchase the brand’s mushroom tinctures on Amazon, with other products, including gummies, capsules, and cosmetics, expected to be added soon.