The Week In Psychedelics

Atai Launches ‘Precision Psychiatry’ Subsidiary
The Psychedelics Sector Reaches 50 Public Companies Listed In The U.S.
Pasithea Therapeutics To Launch Its First Ketamine Clinic In The UK
PharmaTher Receives FDA Orphan Drug Designation For Ketamine Use In Complex Regional Pain Syndrome
Pennsylvania Gets A Psilocybin Bill
The Milestone Round

Atai Launches ‘Precision Psychiatry Subsidiary

Atai Life Sciences (NASDAQ:ATAI) announced the formation of a new subsidiary, called PsyProtix.

PsyProtix is a precision psychiatry company focused on developing therapeutics for treatment-resistant depression and other mental health indications. The company will be added to Atai’s growing list of portfolio companies looking to tackle mental health disorders with an alternative approach.

The precision psychiatry approach taken by PsyProtix is “an emerging field that aims to treat disorders by factoring each patient’s variability in genes, metabolism, environment, and lifestyle,” said the company in a press release.

Traditionally, psychiatric patients are diagnosed and treated based on guidelines and protocols designed for large populations. Precision psychiatry is designed to allow physicians to prescribe treatments specifically targeted to the individual.

“Our view is that each patient is unique, meaning that any given patient will likely have specific individual needs,” said Srinivas Rao, chief scientific officer and co-founder of Atai.

The Psychedelics Sector Reaches 50 Public Companies Listed In The U.S.

In October 2021 the sector reached a new milestone: 50 companies dedicated to psychedelics in various capacities are listed on U.S. exchanges, giving investors interested in the space a wide array of options to pick from.

Companies Listed On The Nasdaq And NYSE

Atai Life Sciences (NASDAQ:ATAI)
Compass Pathways (NASDAQ:CMPS)
MindMed (NASDAQ:MNMD)
Field Trip Health, Inc. (NASDAQ:FTRP)
Seelos Therapeutics (NASDAQ:SEEL)
Enveric Biosciences (NASDAQ:ENVB)
Pasithea Therapeutics Corp. (NASDAQ:KTTA)
GH Research (NASDAQ:GHRS)
Cybin Corp (NYSE:CYBN)

Companies On The OTCQX and OTCQB Markets

Mind Cure Health Inc. (OTCQX:MCURF)
Revive Therapeutics Ltd. (OTCQB:RVVTF)
Entheon Biomedical (OTCQB:ENTBF)
Better Plant Sciences (OTCQB:VEGGF)
Tryp Therapeutics (OTCQB:TRYPF)
PharmaTher (OTCQB:PHRRF)
Mindset Pharma (OTCQB:MSSTF)
Neonmind Biosciences (OTCQB:NMDBF)
PsyBio Therapeutics (OTCQB:PSYBF)
Bright Minds Biosciences (OTCQB:BMBIF)
Silo Wellness (OTCQB:SILFF)
Filament Health (OTCQB:FLHLF)
Novamind (OTCQB:NVMDF)
Awakn Life Sciences (OTCQB:AWKNF)
Delic Holdings Corp. (OTCQB:DELCF)
Defiance Next Gen Altered Experience ETF (NYSE:PSY)
AdvisorShares Psychedelics ETF (NYSE:PSIL)
Wesana Health Holdings (OTCQB:WSNAF)
Ketamine One Capital (OTCQB:KONEF)
Silo Pharma Inc. (OTCQB:SILO)
Optimi Health (OTCQB:OPTHF)
Nova Mentis Life Science Corp. (OTCQB:NMLSF)
Better Life Pharma (OTCQB:BETRF)
Allied Corp. (OTCQB:ALID)
Algernon Pharmaceuticals (OTCQB:AGNPF)
Psyched Wellness (OTCQB:PSYCF)
IntelGenx Corp. (OTCQB:IGXT)

Companies On The OTCPINK:

PharmaDrug (OTC:LMLLF)
Numinus (OTC:LKYSF)
HAVN Life Sciences (OTC:HAVLF)
Mydecine Innovations Group (OTC:MYCFO)
Red Light Holland (OTC:TRIP)
Braxia Scientific Corp. (OTC:BRAXF)
MYND Life Sciences Inc. (OTC:MYNDF)
Levitee Labs (OTC:LVTTF)
Core One Labs (OTC:CLABF)
Lobe Sciences (OTC:GTSIF)
Small Pharma (OTC:DMTTF)
Hollister Biosciences (OTC:HSTRF)
Ehave Inc. (OTC:EHVVF)
Wuhan General Group (OTC:WUHN)

Pasithea Therapeutics To Launch Its First Ketamine Clinic In The UK

Pasithea Therapeutics Corp. (NASDAQ:KTTA), a company in the psychedelics space, will launch its first U.K.-based ketamine infusion clinic.

For the launch of its first U.K. clinic, Pasithea’s wholly-owned subsidiary, Pasithea Clinics, has partnered with ZEN Healthcare to offer intravenous ketamine therapy to patients suffering from treatment-resistant mental health disorders.

The treatment, which will initially be offered in Knightsbridge, London, is set to launch in October.

“We believe we can become the best-in-class provider of IV ketamine treatments,” said Dr. Yassine Bendiabdallah, managing director of Pasithea Clinics in the U.K.

“Evidence from dozens of trials over the past two decades consistently supports the efficacy of ketamine in improving symptoms in some mental health disorders. We are thrilled to be able to provide this new treatment approach in the UK for those patients who are deemed eligible to receive it,” said Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics.

PharmaTher Receives FDA Orphan Drug Designation For Ketamine Use In Complex Regional Pain Syndrome

PharmaTher Holdings Ltd. (OTCQB:PHRRF) (CSE:PHRM), announced that the FDA has granted orphan drug designation for ketamine in the treatment of complex regional pain syndrome (CRPS), a rare chronic pain and inflammatory condition following an injury to a limb.

The Orphan Drug Act grants special status to a drug or biological product to treat a rare disease or condition upon request of a sponsor.

CRPS is known as one of the most painful disorders and the risk of suicide is significantly higher in patients with CRPS with one study demonstrating that 75% of patients had a high risk for suicide, said the company. There is currently no medication approved for the treatment of this condition.

“Receiving our second FDA orphan drug designation with ketamine for CRPS continues our momentum in building a specialty ketamine-based product pipeline for not only mental health disorders but also for rare and near-rare conditions present in neurological (Parkinson’s disease, ALS), pain and inflammatory disorders,” said Fabio Chianelli, PharmaTher CEO.

The company expects to pursue a Phase 2 clinical study using its proprietary cGMP ketamine product in 2022 for CRPS.

Pennsylvania Gets A Psilocybin Bill

Pennsylvania state Rep. Tracy Pennycuick introduced a bill called “the Public Health Benefits of Psilocybin Act,” which would establish “a framework for research to discover innovative methods to optimize the public health benefits of psilocybin,” Marijuana Moment reported.

The bill prioritizes research that focuses on veterans, retired first responders and their families.

HB 1959 was filed with 19 cosponsors. If approved, it would dictate the state Department of Health to authorize at least two entities to “plant, grow and cultivate natural psilocybin mushroom product solely for use in the clinical studies of psilocybin.”

The Milestone Round

Novamind Inc. (Canadian: NM) (OTCQB:NVMDF) has been granted two Schedule 1 licenses from the U.S. Drug Enforcement Agency (DEA), which are required for research sites planning to host clinical trials for psilocybin. The licenses were anticipated in a recent announcement for a program using psilocybin and ketamine in end-of-life and palliative care.

Levitee Labs Inc. (Canadian: LVT) (OTC:LVTTF) has signed a letter of intent to acquire 51% of shares in a compounding pharmacy in Calgary, Alberta, Canada, which will be used as a base for the production and distribution of pharmaceutical products such as ketamine. Levitee will pay CA$306,000 in cash ($247,000).

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