Psychedelics Renaissance Underway as Paradigm Shifting Cure for Depression Potentially Discovered

VANCOUVER, BC, Sept. 28, 2021 /PRNewswire/ -- New clinical trials based out of Australia are exploring the therapeutic benefits of psychedelics (which are currently illegal substances), in what's been described as a "paradigm shifter" for psychiatry. In particular, it's psilocybin, better known as "magic mushrooms" that are being dubbed as potentially "the biggest advance in treatment of depression since Prozac". Now investors are turning towards psychedelics in droves, with new startups garnering several millions of dollars in investment in both Europe and North America, while advancements are being made by new product developers such as Pure Extracts Technologies Corp. (OTC:PRXTF) (CSE:PULL) (XFRA: A2QJAJ), atai Life Sciences N.V. (NASDAQ:ATAI), COMPASS Pathways plc (NASDAQ:CMPS), Cybin Inc. (NYSE:CYBN) (NEO:CYBN), and Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) (NEO:MMED) ahead of what the market expects to be the next big booming legal drug market.

A new joint venture was recently announced between extraction experts Pure Extracts Technologies Corp. (OTC:PRXTF) (CSE:PULL) (XFRA: A2QJAJ) and partners Psyence Group Inc. (PSYG) to form a new JV company called Pure Pysence.

"Pure Psyence sits at the intersection of evidence-based science and nature," said Ben Nikolaevsky, CEO of Pure Extracts. "The researchers, scientists and physicians at Pure Psyence will now be uniquely positioned to bring psilocybin whole mushroom in measurable pharmaceutical dosages to market; a first."

The JV is designed for the development of nature-derived psilocybin extracts and advanced psilocybin formulations for the long-term treatment of psychological trauma and its mental health consequences.

As per the terms of the deal, Pure Psyence will leverage Psyence's supply of in-house grown, high-quality, standardized psilocybin mushrooms with Pure Extract's expertise in extraction technologies to produce high-quality, high-purity medicinal mushroom extracts and formulations on a commercial pharmaceutical scale.

The JV's physicians and scientists will work to make psilocybin more accessible to leading Canadian research institutions as well as provide psilocybin to its own research team at Pure Psyence for human clinical trials.

"Psilocybin mushrooms hold a rich pharmacopeia of unique elements that Pure Psyence is researching to create breakthrough synergies in mental health solutions," said Dr. Justin Grant, Chief Scientific Officer of Psyence.

Psyence, which is located in the Kingdom of Lesotho, and has been designed and constructed to The British Standards Institute (BSI) and Good Manufacturing Practice (GMP) standards. All their harvests are shipped with an export permit from the Lesotho Ministry of Health and a Certificate of Analysis (COA) indicating the psilocybin and psilocin potency of each batch of psychoactive mushrooms.

COMPASS Pathways plc (NASDAQ:CMPS) recentlyannounced it had purchased an IP portfolio that includes patent applications for a variety of psychedelic and empathogenic substances. These new substances include novel derivatives of known compounds, designed to increase confidence in their respective therapeutic effects and safety profile while offering optimised characteristics.

The newly-acquired IP was developed together with inventor Matthias Grill PhD, founder and CEO of MiHKAL GmbH in Basel, Switzerland, who will be working with COMPASS on an exclusive research project to develop new product candidates.

"This agreement will strengthen and expand our IP and development portfolio with new compounds," said Lars Wilde, Chief Business Officer, President and Co-founder, COMPASS Pathways. "We plan to move some of these compounds into clinical development within the next two years, taking us closer to our goal of helping patients with urgent unmet needs in mental health care."

Through its subsidiary Perception Neuroscience, atai Life Sciences N.V. (NASDAQ:ATAI) recently released an update on another platform for treatment resistant depression (TRD) that's derived from a psychedelic—in this case, ketamine, not psilocybin.

Perception announced the initiation of a Phase 2a clinical study to evaluate the safety and efficacy of its candidate, PCN-101 (R-ketamine).

"We believe insight into the molecular properties of the single isomer, R-ketamine, has the potential to offer a highly differentiated profile from current treatment options," said Florian Brand, CEO & Co-founder of atai Life Sciences. "Initiating this Phase 2 clinical study is a major step for our teams at Perception and atai and is a great achievement. We believe this work has the potential to deliver a novel option with diversified delivery capabilities that could decrease overall healthcare utilization, which may help us move toward our greater mission to improve care for patients who suffer from TRD."

The double blind, placebo-controlled Phase 2a clinical trial has already received the necessary regulatory and ethics approvals to initiate the study. Patients will receive either placebo, a 30 mg dose, or a 60 mg dose of R-ketamine intravenously, before being assessed for depressive symptomology over the subsequent 14 days using the Montgomery-Asberg Depression Rate Scale, or MADRS. 

Back in August, Cybin Inc. (NYSE:CYBN) (NEO:CYBN) filed a series of patent applications in support of its ongoing drug candidate programs, designed to bring the potential to obtain patent coverage in 153 countries for each of the patent applications.

"We continue to progress our IP portfolio across novel molecules, delivery mechanisms, processes and protocols as we continue to find new and novel discoveries through our pre-clinical findings thus expanding and strengthening IP," said Doug Drysdale, CEO of Cybin. "Cybin is dedicated to finding treatments for therapy resistant psychiatric indications as we believe these will provide patients and their medical providers with new avenues to address this significant unmet need."

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) (NEO:MMED) and collaborative partners UHB Liechti Lab recently updated the market with results from their multiple ongoing studies on psilocybin therapies. Novel findings in the results included comparative effects of LSD psilocybin, and psychedelics and SSRIs, which yielded the observation that psilocybin was found to be safe to administer together with an antidepressant.

"Investors and researchers alike are eager to understand the similarities between psilocybin and LSD," said MindMed CEO Robert Barrow. "Learning how these substances compare and interact with other drugs helps us ensure that our treatment programs are as effective and efficient as possible."

Article Source: 

USA News Group
http://USAnewsgroup.com
[email protected]

DISCLAIMER:

Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Flyonwallstreet.com is a wholly-owned subsidiary of Maynard Communication Limited ("MCL"). MCL has been paid a fee for Pure Extracts Technologies Corp. advertising and digital media from the company directly. This fee constitutes cash and 3 million Common Shares that were paid to MCL as a part of a finders fee; we have also purchased shares in the open market. There may be other third-parties who may have shares of Pure Extracts Technologies Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MCL owns shares of Pure Extracts Technologies Corp. as noted above. MCL reserves the right to buy and sell, and will buy and sell shares of Pure Extracts Technologies Corp. commencing immediately after said publication date without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MCL has been approved by Pure Extracts Technologies Corp.; this is a paid advertisement, and we own shares of the aforementioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through private placements and/or other investment vehicles.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

USA News Group is Source of all content listed above.  FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with USA News Group or any company mentioned herein.  The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM.  FNM is not liable for any investment decisions by its readers or subscribers.  FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM was not compensated by any public company mentioned herein to disseminate this press release.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Media Contact Information:
FN Media Group, LLC
Media Contact e-mail:  
[email protected] 
U.S. Phone: +1(954)345-0611

SOURCE USA News Group