NEW YORK, April 21, 2020 /PRNewswire/ -- Over the course of the past decade, several universities and research institutes have published breakthrough findings from studies conducted on the usefulness and applications of psilocybin. The substance was studied for use in the treatment of anxiety disorders such as OCD, addiction to alcohol, tobacco and opioids, treatment-resistant depression, PTSD as well as chronic migraines. Psilocybin is a naturally occurring psychedelic prodrug compound produced by more than 200 species of mushrooms, collectively known as psilocybin mushrooms. Just last year, the Johns Hopkins School of Medicine opened the Center for Psychedelic and Consciousness Research in Baltimore. Headed by renowned researcher Roland R. Griffiths, Ph.D., the Center aims to research the use of psychedelics to study the mind and identify therapies for diseases such as addiction, PTSD and Alzheimer's. According to the university, a group of private donors has given USD 17 Million to start the Center, making it what's believed to be the first such research center in the U.S., and the largest research center of its kind in the world. Global Trac Solutions Inc. (OTC: PSYC), Seelos Therapeutics, Inc. (NASDAQ: SEEL), Dyadic International, Inc. (NASDAQ: DYAI), Mind Medicine (MindMed) Inc. (OTC: MMEDF) (NEO: MMED), Champignon Brands Inc. (OTC: SHRMF) (CSE: SHRM)
Psychedelic products have slowly gain popularity in recent times, similar to cannabis in years past, and finally breaking free of their stigmas. Rick Doblin, Ph.D., Founder and Executive Director of the Multidisciplinary Association for Psychedelic Studies (MAPS), explained according to an article by Forbes that "the new psychedelic industry will need to focus on public benefit as well as profit in order to avoid a cultural backlash against these historically misunderstood substances." And even though the psychedelic drugs market is still only in infancy stage, a few announcements have already been made regarding the use of such products. For example, in September 2019, Jazz Pharmaceuticals, Inc. had published optimistic data sets from JZP-258's Phase 3 study for the treatment of excessive daytime sleepiness (EDS) and cataplexy in adults with narcolepsy.
Global Trac Solutions Inc. (OTC: PSYC) announced today breaking news that it has, "engaged with a variety of key industry experts in an effort to plan and prepare for the Company's intended initial launch set for May 2020. Such efforts have included identifying and establishing strategic partnerships with various individuals and companies whom PSYC will look to collaborate with over the next several weeks and months. The Company will be working on collaborations in the areas of media, website and brand strategy as it positions itself for what it anticipates to be a very effective launch into the emerging business sector of psychedelic medicine.
'In recent weeks we have witnessed our world and our daily lives change significantly as a result of the ongoing COVID-19 pandemic. We have also seen a steady increase in studies and overall focus surrounding a variety of alternative medicines and treatments, including those associated with psychedelics based on the possible benefits for treating anxiety, depression, PTSD, and more. Most recently Rolling Stone Magazine published an interesting article surrounding Swiss chemist Albert Hoffmann's psychedelic discovery, and in it they state, 'More recently, Silicon Valley billionaires have been examining the profitability of the industry, neuro-pharmaceutical corporations are developing commercial psychedelic compounds, and the Wall Street Journal is covering psychedelic startups.' We were fortunate to watch the cannabis industry grow into a sustainable marketplace for both medicinal and recreational use. Part of that journey surrounded research and development including working alongside industry experts to gain the knowledge and understanding needed to service that industry. We will be embarking on the same path for psychedelic medicine by engaging with industry experts, which will likely expand to a new advisory board and a more defined approach, which will result in a unique plan to engage this market,' said Vanessa Luna, CEO of PSYC.
PSYC is at the forefront of psychedelic medicine, we will work with several ancillary businesses to provide a network of resources for our current subscribers, while expanding that network to those pioneers advocating for change and legislation within this arena."
Seelos Therapeutics, Inc. (NASDAQ: SEEL) announced last month additional interim data from its Phase I studies of Intranasal Racemic Ketamine (SLS-002). Seelos also announced that it completed its Type C meeting with the U.S. Food and Drug Administration (FDA) as scheduled to discuss the protocol design for a study of SLS-002 for Acute Suicidal Ideation and Behavior (ASIB) in patients with Major Depressive Disorder (MDD). Interim data disclosed includes the hemodynamic (vital signs) side effect profile to address the known and expected side effects of ketamine, which are increases in blood pressure and heart rate. "Earlier this month, we completed our scheduled face to face Type C meeting with the FDA for input and feedback on a potential clinical study of SLS-002 for acute suicidal ideation and behavior in patients with major depressive disorder," said Raj Mehra, Ph.D., Chairman and CEO of Seelos. "We continue to be extremely pleased with the side effect profile of SLS-002 to date and will continue to work closely with the agency on the design of the protocol for the next study."
Dyadic International, Inc. (NASDAQ: DYAI) is biotechnology company which is developing what it believes will be a potentially significant biopharmaceutical gene expression platform based on the fungus Myceliophthora thermophila, named C1. The C1 microorganism, which enables the development and large scale manufacture of low cost proteins, has the potential to be further developed into a safe and efficient expression system that may help speed up the development, lower production costs and improve the performance of biologic vaccines and drugs at flexible commercial scales. Recently the Company announced that is is joining the global fight against the coronavirus outbreak by collaborating with The Israel Institute for Biological Research ("IIBR"), a governmental research institute established to provide the State of Israel with scientific response to chemical and biological threats. IIBR will explore the potential of Dyadic's industrially proven C1 gene expression platform to express gene sequences and targets developed by IIBR into both an rVaccine candidate and monoclonal antibodies (mAbs) that may help combat the outbreak of the COVID-19 virus (Coronavirus).
Mind Medicine (MindMed) Inc. (OTC: MMEDF) (NEO: MMED) announced earlier this month the signing of a multi-year, branch exclusive collaboration with the laboratory of Professor Dr. Matthias Liechti, the world-leading psychedelics pharmacology and clinical research group at University Hospital Basel in Switzerland. Under the agreement, MindMed gains exclusive worldwide rights to data, compounds, and patent rights associated with the Liechti laboratory's research with LSD and other psychedelic compounds, including data from preclinical studies and eight completed or ongoing LSD clinical trials. MindMed has already begun working with Professor Dr. Liechti's laboratory to file patents for the data and clinical trials it has generated over a 10-year period.
Champignon Brands Inc. (OTC: SHRMF) (CSE: SHRM) announced earlier this month that it has entered into a definitive agreement to acquire 100% of AltMed Capital Corp. AltMed owns 75% of the CRTCE, a fully operational ketamine clinic located in Mississauga, Ontario, with over 18 months of operating history. The CRTCE is licensed (2018) by the College of Physicians and Surgeons Ontario (CPSO) under OHPP (Out of Hospital Premise Program) to administer ketamine treatments for indications including but not limited to depression, bipolar disorder, post-traumatic stress disorder (PTSD) and obsessive-compulsive disorder (OCD). The clinic has been licensed by Health Canada to dose eligible patients with psilocybin and is the only clinic in Canada to perform psilocybin doses under Health Canada approval.
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