Jocasta Neuroscience and Diamond Therapeutics Announce Research Program to Explore Non-Hallucinogenic Psychedelic-Inspired Compounds for Cognitive Impairment and Neurodegeneration

Joint research program will evaluate three novel compounds designed to replicate psilocybin's therapeutic effects

SCOTTSDALE, Ariz., Oct. 13, 2026 /PRNewswire/ -- Jocasta Neuroscience, Inc. ("Jocasta" or "the Company") and Diamond Therapeutics Inc. ("Diamond Therapeutics") today announced that they have entered into an agreement establishing a joint research program targeting cognitive impairment and neurodegeneration.

Under the agreement, Jocasta will evaluate three new chemical entities (NCEs) discovered by Diamond Therapeutics. The compounds are designed to mimic psilocybin's receptor occupancy pattern while avoiding activity leading to hallucinogenic effects. Upon completion of the joint research program, which is funded by Jocasta, the Company will have the option to obtain an exclusive, royalty-bearing license to research, develop, manufacture, and commercialize the compounds. As part of the agreement, Jocasta will make an upfront payment to Diamond Therapeutics in the form of a convertible debenture, exchangeable into its preferred shares. If exercised, the license entitles Diamond Therapeutics to downstream development and commercial milestone payments, plus tiered royalties on net sales. Further financial terms were not disclosed.

The agreement complements Jocasta's lead asset, JN-0413, an α-klotho-based therapeutic candidate for cognitive decline in neurodegenerative disease, which is set to begin first-in-human clinical trials at the start of 2027.

"This research collaboration gives us access to a differentiated set of chemical entities that could leverage the known patient benefits from psychedelic-based medicine without the barriers created by hallucinogenic side effects," said Albert Agro, PhD, CEO of Jocasta. "This agreement strengthens our pipeline as we work to give patients living with neurodegenerative disease more safe and effective treatment options."

Current therapies for cognitive impairment and decline leave a significant portion of patients without meaningful options, and while psychedelic compounds have shown promise for enhancing cognitive performance, their hallucinogenic side effects have limited broader use — creating an urgent need for approaches that preserve the cognitive benefit while minimizing those effects. Many treatments in this space work by acting on G protein-coupled receptors (GPCRs), and recent advances now make it possible to selectively target individual signaling pathways downstream of a single receptor. Jocasta hopes to apply this approach to develop drug candidates that enhance cognitive function more effectively while reducing hallucinogenic and other side effects.

"Our medicinal chemistry platform was built to separate the therapeutic signal from the hallucinogenic effects that have held these molecules back and, in doing so, create a psychedelic-based therapeutic with a dramatically improved safety margin," said Jeffrey Sprouse, PhD, Head of Pipeline Development, Diamond Therapeutics. "We are excited to partner with Jocasta to explore applications of our neuroplastic molecules to potentially benefit patients living with cognitive impairment and neurodegenerative disease."

Research Plan 

The research team will run a series of preclinical studies on the three 5-HT_2A receptor agonist compounds, testing pharmacokinetics, behavioral effects, and cognitive performance. Compounds that improve cognitive performance without inducing hallucinogenic-like effects will be prioritized for further development.

About Jocasta

Jocasta Neuroscience, Inc. is a clinical-stage biotech company developing JN-0413, a proprietary formulation of a-klotho protein, to treat cognitive decline associated with neurodegenerative-induced dementia. Jocasta's foundational data demonstrates the critical role of a-klotho in health and disease – from human genetics (effect of KL mutations) to robust cognitive enhancement in healthy rats, rodent disease models and non-human primates. Backed by this body of evidence, JN-0413 will advance into clinical trials at the start of 2027.

About Diamond Therapeutics

Diamond Therapeutics Inc., a clinical-stage drug development company based in Toronto, Canada and Birmingham, Alabama, focuses on rapid-acting behavioral and mental health therapeutics, including 5-HT receptor agonists such as psilocybin and other novel neuroplastogens. The company's development pipeline holds promise for a range of neuropsychiatric, neurodegenerative and other disorders, with a particular focus on applications of its therapeutics in the treatment of generalized anxiety disorder (GAD) and GAD related to menopause, which together affect millions of patients worldwide. The company leverages numerous partnerships with leading academic institutions and clinical research funding bodies to advance its research. Learn more at: www.diamondthera.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the potential benefits of the joint research program between Jocasta and Diamond Therapeutics, the design and conduct of the preclinical research plan, whether Jocasta will exercise its option to an exclusive license and on what timeline, the design and development of the chemical entities subject to the agreement, the timing of clinical trials for JN-0413, and the therapeutic and commercial potential of the parties' pipelines. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including risks inherent in drug discovery and clinical development and the risk that the research program may not yield results sufficient to support exercise of the license option. Neither Jocasta nor Diamond Therapeutics undertakes any obligation to update these forward-looking statements, except as required by law.

Media & Investor Contacts
Jocasta Neuroscience
[email protected]

Diamond Therapeutics
[email protected]

SOURCE Jocasta Neuroscience, Inc.