Psyched: Australia As Psychedelics Hub, Advanced Scans Of Brain On DMT, New PAC For Congressional Influence, 9 States Advancing Bills & More

Australia: Enveric, FSD Pharma, Psyence & Others Advance Businesses

• Enveric Biosciences ENVB has created an Australia-based subsidiary, Enveric Therapeutics, to support its next-generation psychedelics program for anxiety disorders.
• FSD Pharma Inc.'s HUGE Australian business, FSD Pharma Australia, has been approved by the Alfred Ethics Committee to begin a Phase 1 clinical trial of next-gen drug candidate Lucid-201 for cases of Major Depressive Disorder.
• Psyence Group Inc. PSYGF partnered with iNGENū on a Phase 2b clinical trial on psilocybin for palliative care.
• Emyria Ltd. is working with the University of Western Australia to expand its MDMA analogs library.

Study Sheds Light On How A Brain On Ayahuasca Looks

A new study, led by a group at Imperial College London, revealed the most advanced-to-date brain images of the effects of the psychedelic compound DMT.

The trial monitored the brain activity of 20 healthy volunteers receiving either a 20mg DMT injection or a placebo through functional magnetic resonance imaging (fMRI) and electroencephalography (EEG) before, during and after the psychedelic session.

The brain’s normal structures change their standard hierarchical modes towards a more fluid communication and connectivity between regions related to imagination, language, memory and other higher-level functions.

The Latest Moves On States With Reform Bills

The Psychedelic Medicine Political Action Committee (PAC) is the latest activist-formed organization focused on steering federal funding toward research, education and ultimately encouraging policymakers on both sides of the aisle to revise long-standing restrictions on these substances.

With the goal of raising $10 million in its first year, the new group is petitioning donors, including investors in the for-profit biotech space.

At the state level, this week’s highlights occurred in California, Missouri, Hawaii, Texas, Minnesota, Vermont, Nevada, Washington and New Hampshire. 

The Milestone Round

Each week, Benzinga learns about new clinical trials, compounds and potential treatments:

• Lucy Scientific DOSEF agreed to buy Wesana Health Holdings Inc.'s WSNAF psilocybin and CBD therapy; it also launched a new brand of products containing Amanita Muscaria mushrooms with partner High Times. 

• Irwin Naturals IWINF purchased Keta Media LLC.

• Both LFTD Partners LIFD and atai Life Sciences ATAI have shared their yearly financial results.

• Field Trip Health & Wellness requested creditor protection. The concern is whether it will be able to re-emerge from it.   

• Psycheceutical Bioscience BWVI’s published data supports the potential of its ketamine topical cream for treating PTSD. 

• New York-based ketamine therapy center Nushama exclusively shared its healthcare practices and co-founder Jay Godfrey provided further detail on prices, insurance, competition and the company’s expansion plans.

• A small review on Salvador Dali’s psychedelic-inspired artworks.

Meet some of the biggest names in the psychedelics VCs and EFTs scenario at the second edition of our Psychedelics Capital Conference at the Fontainebleau Miami Beach Hotel on April 13!

See Also: Last Week's Edition Of 'Psyched'

Psychedelics ETFs Weekly Performance From March 20-24

• AdvisorShares Psychedelics PSIL opened Monday, March 20, at $1.74, lower than prior week’s opening at $1.87, yet confirming a descending trend since February. After a small peak achieved on Tuesday, March 21 ($1.82), Friday 24 closed at $1.78, almost identical to former Friday, March 17’s $1.79 and Friday, March 10’s at $1.81.
  For this ETF, the yearly price range was once set between $6.26 and $1.82, and after gradual changes is now set between $4.35 and $1.70.

• The Elemental Advisors PSYK ETF PSYK opened Monday, March 20, at $16.49, following former Monday, March 13’s low opening at $16.55 considering Monday 6 opened at $17.65. Lowest number of the week was $16.20 on Wed. 22, after which the stock recovered and closed on Friday, March 24, at $16.43, almost identical to prior closing at $16.40. For this ETF, the yearly price range was set between $23.32 and $16.70, and now the lowest price has been adjusted to $16.10.