Psyched: New Psilocybin Forms, LSD Anxiety Study, UK's Parliamentary Debate And More

Biotech Company Discovers What May Be The First New Compounds Of Psilocybin In History

NY-based biotech platform Terran Biosciences announced the publication of an international PCT patent application covering what may be the first new salts, co-crystals and polymorphs of psilocybin in history.

CEO Dr. Sam Clark said the discovery marks “a new chapter in psychedelic medicinal chemistry,” as the company worked with one of the most well-studied compounds “to create novel breakthroughs previously not thought possible." Read more HERE.

MindMed's LSD Study For Anxiety Treatment Enrolls And Doses 100 Participants, More Expected

MindMed’s MNMD Phase 2b clinical trial on proprietary LSD compound MM-120 targeting Generalized Anxiety Disorder (GAD) is over 50% enrolled and dosed. 

“We have seen a meaningful acceleration in enrollment over the last few months since our full set of study sites were activated early this year with 25 patients enrolled just in the last 30 days,” said director and CEO Robert Barrow of the clinical-stage biopharma company.

Read more HERE.

Canada: PharmAla Nabs First-Ever Approval Of MDMA Treatment Outside Clinic, Plus Survey Reveals Real-World Use And Access Trends

MDXX-class molecules and clinical-grade MDMA developer PharmAla Biotech and distribution partner Shaman Pharma Corp. (affiliated with GMP-compliant CCrest Labs) received Health Canada’s approval to provide proprietary LaNeo MDMA capsules to a Canadian physician for patient treatment under the Special Access Program (SAP.) 

The federal agency has confirmed that this is the first-ever authorization of an MDMA-assisted therapy treatment under the SAP. Read more HERE.

Meanwhile, the Canadian Psychedelic Survey (CPS,) co-sponsored by SABI Mind, MAPS PBC and Psygen Industries, recently shared the results of a survey on the characteristics, patterns of use and access to psychedelic drugs.

Designed in collaboration with clinicians and academic researchers from renowned universities, the 655-question poll seeks to gather real-world evidence on psychedelics use in Canada.

The CPS focused on the use of 11 psychedelics: ayahuasca, DMT or 5-MeO-DMT, iboga or ibogaine, LSD or acid, MDMA or MDA, mescaline, psilocybin, and salvia divinorum. 

More on the survey results HERE.

UK Parliament Debates Accelerating Psychedelics Research And Psilocybin Rescheduling

The U.K. Parliament recently opened a debate about psychedelics reform. Labor MP Charlotte Nichols opened the discussion around the need for medical access to psilocybin-assisted therapy.

In a call supported by politicians, the Royal College of Psychiatrists, the Campaign Against Living Miserably (CALM) the Conservative Drug Reform Group and several other organizations, Nichols stated that there is “an urgent and medically-justified need” to reschedule psilocybin under the 2001 regulations. Learn more HERE.

The Milestone Round

• Seelos Therapeutics SEEL, Enveric Biosciences ENVB, Filament Health FLHLF and Mydecine Innovations MYCOF reported their quarterly financials and business updates.

• Incannex Healthcare IXHL shared its new Australian subsidiary’s business presentation.

• Filament Health completed a Nagoya protocol-compliant iboga root import from Africa.

• Psilocybin mushrooms market: Optimi Health OPTHF harvested 300kg of clinical-grade fungi to export to Australia, while L.A. dispensaries are selling small amounts of the psychedelic.

• Lucy Scientific Discovery LSDI and nonprofit TheraPsil partnered to accelerate medical access to psilocybin therapy.

• MindMed is undergoing a management battle, with shareholder group FMC Holdings accusing the company of pursuing a “misguided clinical path.”

• A US Army veteran would face 6 and a half years of jail time for using psilocybin mushrooms and DMT to treat his severe cluster headaches.

• States reform update includes news from Arizona, Connecticut, Maine, Vermont and Missouri, while a Massachusetts city decriminalized adult use of psilocybin.

• MAPS Psychedelic Science 2023 will feature Reggie Watts, Eric Andre and The Flaming Lips, among other special guests.

• A couple of takeaways from Benzinga’s Psychedelics Capital Conference 2023 edition.

• Additional insights by Zappy Zapolin on this year’s Milken Global Conference, “America’s Davos.”

• Last, a comprehensive guide to growing psilocybin mushrooms by the Psychedelic Spotlight team.

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

Psychedelics ETF Weekly Performance:

AdvisorShares Psychedelics ETF PSIL opened Monday, May 22 at $1.76, slightly higher than the prior two Mondays’ openings ($1.70 and $1.74, respectively.) The week’s peak was $1.77, sustained through Thursday 18 and Friday 19, and the lowest was $1.71 on Tuesday 16. Both numbers were slightly lower than the prior week’s ($1.78 and $1.72, respectively.) 

For this ETF, the yearly price range is set between $4.35 and $1.65.