'Psyched': DC Includes Psychedelics Measure On Ballot, GreenStar Buys Eleusian, MindMed Wraps Clinical Trial

District of Columbia To Include Psychedelics Decriminalization Measure on November Ballot

The District of Columbia will likely become the nation’s second jurisdiction to include a psychedelics decriminalization measure in November.

Oregon made a similar announcement last week, and will include psilocybin decriminalization on its ballot. In the case of DC, the ballot will also include ayahuasca and ibogaine, among others.

According to Decriminalize Nature DC, the activist organization behind the proposal, Initiative 81 would “make entheogens among the lowest law enforcement priorities for the Metropolitan Police Department.”

The initiative has gathered and certified enough signatures and the Board of Elections will formally announce its inclusion on August 5, Marijuana Moment reported.

The Lundquist Institute Receives $1.75M Donation to Research Psilocybin Treatment

The Lundquist Institute for Biomedical Innovation in Torrance, California, has accepted a $1.75 million anonymous donation meant to research psilocybin-assisted psychotherapy for terminally ill patients.

The grant will be used to fund a multi-site clinical trial that will evaluate the safety and efficacy of psilocybin in patients with severe psychological disorders associated with a terminal disease.

The trials will be conducted at the Harbor-UCLA Medical Center, as well as in other leading medical schools across the country.

Charles Grob and Anthony Bossis will lead the study. Both researchers have studied the use of psychedelic treatment as a palliative and have found evidence of the efficacy of psilocybin in the treatment of terminal cancer patients, with positive effects in relieving the psychological stress and anxiety caused by impending death. 

MindMed Completes 18-MC Phase 1 Clinical Trial

Psychedelics company Mind Medicine Inc. MMED MMDF announced Tuesday the completion of a phase 1 clinical trial meant to assess the ideal dosing parameters for 18-MC.

18-MC is a non-hallucinogenic compound derived from ibogaine, a natural psychedelic alkaloid found in several plants.

The trial tested doses of 18-MC that ranged from 4 milligrams to 16 milligrams, twice a day. All participants were evaluated for pharmacokinetics and safety. The company said that the presented dosing was well tolerated in humans. 

MindMed stated that these results will help the company advance to a Phase 2a clinical trial, which intends to analyze the efficacy of 18-MC in the treatment of opioid addiction.

The company announced plans to start the Phase 2a trial by the end of 2020.

Novamind Buys Ketamine Clinic and Research Center in Utah

Novamind Ventures Inc. announced on Thursday the acquisition of Cedar Psychiatry LLC, a clinic that specializes in ketamine-assisted psychotherapy and Cedar Clinical Research LLC, a research center focused on psychedelic medicine.

Both institutions are based near Salt Lake City, Utah. Novamind invested CA$3.05 million ($2.27 million) in the acquisitions, which include CAN$1 million in cash and CA$2.05 million in Novamind common shares.

The acquisition follows the company’s announced strategy after an initial raise of CA$4.4 million.

The company said that Cedar Psychiatry will now become the “central hub” for Novamind's global network of clinics and retreats and Cedar Clinical Research will lead Novamind's clinical research activities.

Dr. Reid Robison, co-founder of Cedar, will be welcomed to Novamind's senior leadership team.

Novamind announced earlier this month a plan to go public in the CSE by a reverse take-over with Hinterland Metals.

GreenStar Biosciences Acquires Eleusian Biosciences 

GreenStar Biosciences Corp. GSTR GTSIF announced it has signed a binding agreement to purchase psychedelics company Eleusian Biosciences Corp., a Toronto-based psychedelic medicine developer.

Eleusian shareholders will receive CA$3 million ($2.23 million) through the issuance of 60.2 million common shares of GreenStar.

According to a press release, Eleusian is working with scientists and physicians at the Miller School of Medicine at the University of Miami to develop therapeutics for the treatment of mild traumatic brain injury with PTSD or PTSD alone, using psilocybin and N-Acetylcysteine.

Maghsoud Dariani, Eleusian’s Chief Science Officer will join GreenStar’s executive team as Chief Science Officer.

Picture made using graphics from Unsplash.