Psilocybin could potentially revolutionize the treatment of autism spectrum disorder (ASD). At the moment, the therapeutics market for ASD is valued at approx. $3.2 billion, and could reach about $4.6 billion by 2026, given the rising global incidence. In addition, about 1 in 54 children has been identified as having ASD, according to the Centers for Disease Control and Prevention. Unfortunately, there’s a rather large unmet medical need when it comes to ASD. However, that could potential change with the use of psychedelics, like psilocybin, which is currently being studied by Nova Mentis Life Science Corp. (CSE:NOVA)(OTCPK:LIBFF). Other top psychedelic companies looking into the positive effects of such drugsinclude HAVN Life Sciences Inc. (CSE:HAVN), Cybin Inc. (NEO:CYBN)(OTC:CLXPF), Mydecine Innovations Group Inc. (CSE:MYCO)(OTC:MYCOF), and Revive Therapeutics Ltd. (CSE:RVV)(OTC:RVVTF).
Nova Mentis Life Science Corp. (CSE:NOVA)(OTCPK:LIBFF) BREAKING NEWS: Nova Mentis Life Science Corp. is pleased to announce that it has appointed Dr. Julia V. Perederiy, PhD to its Scientific Advisory Board, effective immediately. Specializing in early-stage technologies and data-driven corporate strategy, Dr. Perederiy has scientific and commercialization expertise in biological innovation, from single-cell analytics to systems-level therapeutics.
“Dr. Perederiy is an established research neuroscientist whose experience will prove valuable in the upcoming preclinical autism spectrum disorder (ASD) psilocybin treatment study”, stated Dr. Marvin S. Hausman MD, Chairman of NOVA’s Scientific Advisory Board. “This study is designed to establish therapeutic doses of psilocybin that can be used in future human ASD trials.”
Dr. Perederiy is an author of multiple peer-reviewed publications, including high-impact studies on brain plasticity in neurodegeneration and on the neurogenetics of autism. In addition to her academic positions, Julia is an experienced entrepreneur and management consultant, helping biotechnology companies with business planning, market research, and fundraising.
“I am proud to join NOVA’s Scientific Advisory Board and to provide my scientific and strategic expertise as we continue to shed light on entheogens and their clinical potential to ameliorate complex socio-behavioral conditions like autism and chronic inflammatory diseases outside the central nervous system.”
Dr. Perederiy holds Bachelor’s degrees in Neurobiology and Psychology from the University of California, Berkeley, a Master’s in Technology Entrepreneurship from University of Portland, and a PhD in Neuroscience from Oregon Health & Science University.
Other related developments from around the markets include:
HAVN Life Sciences Inc. (CSE:HAVN) is pleased to announce that, further to its news release dated December 15, 2020, the Company has completed its previously announced bought deal public offering of 10,747,900 units, including 1,401,900 Units issued pursuant to the Underwriter’s over-allotment option which was exercised in full, at a price of $1.07 per Unit, for aggregate gross proceeds of $11,500,253. Eight Capital acted as underwriter in respect of the Offering. Each Unit consists of one common share in the capital of the Company and one Share purchase warrant, with each Warrant entitling the holder thereof to purchase one additional Share at an exercise price of $1.34 for a period of 36 months from the date of issuance.
Cybin Inc. (NEO:CYBN)(OTC:CLXPF), a life sciences company focused on psychedelic pharmaceutical therapies, is pleased to provide an update on its eight patent filings, which cover the Company’s novel therapeutics, delivery mechanisms and treatment regiments. The Company is also pleased to announce that it intends to expand the development of its therapeutics program to include, in addition to psilocybin, psychedelic compounds such as DMT, psilocybin analogues and a range of tryptamines and phenylethylamines which are expected to have improved pharmacokinetic profiles, while retaining the efficacy of the original molecules. In addition, the Company intends to build a database of molecules and their chemically synthesized pathways for use in the pharmaceutical industry. “Our management team has a proven track record in developing and commercializing dozens of therapeutics, including a modified psychedelic targeted for treatment resistant depression and we intend to continue to advance our IP portfolio, drug discovery platform, delivery mechanisms and technologies all with the end goal of enhancing the patient experience and progressing the psychedelic industry,” said Cybin’s Chief Executive Officer, Doug Drysdale.
Mydecine Innovations Group Inc. (CSE:MYCO)(OTC:MYCOF) is pleased to announce the appointment of UK-based Boustead Capital Markets LLP to commence the dual listing process on the London Stock Exchange for the admission of the Company’s common shares to the Standard Segment of the Official List’s Main Market. Among the factors considered by the Company in pursuing the dual listing, Mydecine noted that the LSE currently has a limited number of sizable psychedelics-focused biotech companies. Mydecine, as a contributing member to Drug Science UK, the only completely independent, science-led drugs charity, believes the LSE listing will provide UK and European investors with greater, more local exposure to a new high-quality investment choice of a business type not currently available on the Exchange.
Revive Therapeutics Ltd. (CSE:RVV)(OTC:RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to provide an update on its oral thin-film delivery system with psilocybin being developed under a research partnership agreement with Reed Research Group out of the University of Wisconsin-Madison. Following several months of prototyping on a wide range of dosage forms, the Company has completed an oral thin-film strip product with psilocybin with dosage forms ranging between 1 mg and 20 mg and demonstrating its versatility through physio-chemical characterization (e.g. tensile strength of films) of bio comparable tannin-chitosan composite materials, dissolution and disintegration testing, and rate of psilocybin release from composites. Currently technical and scientific data is being processed and finalized.
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