Psychedelics may soon disrupt traditional medicine, and create a $100 billion market opportunity. In fact, according to analysts at Eight Capital, "The addressable market is incredibly large, and we're still in the early innings of what any sort of psychedelic treatment could do to resolve some of these important issues," notes the firm, as quoted by Business Insider. All thanks in part to clinical trials from major institutions that have found such drugs can effectively treat a range of mental and other health related issues, such as obsessive-compulsive disorder, PTSD, opioid addiction, alcoholism, eating disorders, depression, and anxiety among others.
In addition, a report titled Psychedelic-Assisted Psychotherapy: A Paradigm Shift in Psychiatric Research and Development found that such treatments have “positive long-term mental health consequences, rather than daily neurochemical corrections in brain dysfunctions,” meaning they may help treat conditions better than pharmaceuticals, as noted by Leafly. As we learn more about the many benefits of such treatments, some of the top companies to keep an eye on include Revive Therapeutics (CSE:RVV)(OTC:RVVTF), Johnson & Johnson (NYSE:JNJ), Champignon Brands Inc. (OTC:SHRMF)(CSE:SHRM), Mind Medicine Inc. (OTC:MMEDF), and Numinus Wellness Inc. (TSXV:NUMI).
Revive Therapeutics Ltd. (CSE:RVV)(OTC:RVVTF) BREAKING NEWS: Revive Therapeutics Ltd., a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an expansion to the sponsored research partnership agreement entered with the University of Wisconsin-Madison to evaluate novel formulations of psilocybin and a Phase 1 clinical study investigating the therapeutic application of psilocybin for an undisclosed addiction use disorder.
“We are pleased to have expanded our research partnership with the University of Wisconsin-Madison in the development of novel psilocybin formulations that will serve as the platform to create unique psychedelic-based therapeutics for clinical research targeting specific medical needs, such as addiction use disorders,” said Michael Frank, Revive’s CEO. “As part of our psychedelic-based pharmaceutical strategy, we are focused on balancing research and development of novel psilocybin-based formulations and clinical research of psilocybin.to create a robust product pipeline backed by intellectual property and clinical data with the aim to pursue the FDA regulatory pathway for commercialization. Revive plans to expand its clinical development pipeline with psilocybin for various addiction and dependence disorders.”
The research and development work being carried out at the University of Wisconsin-Madison focuses on tannin-chitosan composites in the form of thin films, hydrogels and 3D foams. The research will include the development of composite formulations, physio-chemical characterization (e.g. tensile strength of films) of composite materials and rate of psilocybin release from composites. Final formulations will be investigated in pre-clinical and clinical studies in various diseases and disorders. The Company has identified tannin-chitosan composite thin films as the lead candidate for the development of a unique delivery platform for therapeutic doses (1-20mg) of psilocybin into the oral cavity.
The Company also plans to finalize a sponsorship program around a Phase 1 clinical study examining psilocybin for the treatment of an undisclosed addiction use disorder. The clinical study will be conducted at the University of Wisconsin-Madison, School of Medicine and Public Health, and School of Pharmacy, which holds a Wisconsin special authorization and DEA license to perform clinical research with psilocybin.
Other related developments from around the markets include:
Johnson & Johnson (NYSE:JNJ) will participate in the Bank of America Virtual Conference on Tuesday, June 23rd. Joseph J. Wolk, Executive Vice President and Chief Financial Officer will represent the Company in a session scheduled at 2:30 p.m. (Eastern Time). This webcast will be available to investors and other interested parties by accessing the Johnson & Johnson website.
Champignon Brands Inc. (OTC:SHRMF)(CSE:SHRM) a human optimization sciences company with an emphasis on ketamine and psychedelic medicine, is pleased to announce it has selected Toronto-based Dalriada Drug Discovery Inc. to advance its new chemical entity IP portfolio as it pertains to ketamine and psilocybin/psilicin molecular scaffolds. Dalriada, a leading contract research organization (CRO) in the drug discovery space, will lead Champignon’s new drug discovery programs in the NCE arena and further provide integrated R&D support to accelerate the Company’s existing preclinical assets and ongoing development of proprietary delivery platforms. The Company anticipates that through this partnership, a robust pipeline of preclinical and clinical assets with strong IP protection will be delivered. “It is with great pleasure to the welcome the Dalriada group to Champignon,” commented Dr Joseph Gabriele, Special Advisor, Champignon. “Dalriada’s expertise in medicinal chemistry will be a monumental addition to Champignon’s innovative diverse formulation platforms by their expertise in the synthesis of molecules, including existing psychedelics (ketamine, psilocybin and MDMA), as well as novel new psychedelic-like molecules. This synergistic collaboration will differentiate Champignon from other companies in the psychedelic space by boosting our ability to maintain an inhouse infrastructure for the clinical delivery NCEs.”
Mind Medicine Inc. (OTC:MMEDF) is supporting and collaborating on a Phase 2 clinical trial evaluating LSD for the treatment of cluster headaches at University Hospital Basel’s Liechti Lab. The Phase 2 trial began recruiting patients in early January and has commenced treating patients with LSD. MindMed is the leading neuro-pharmaceutical company for psychedelic inspired medicines and previously formed an ongoing R&D collaboration with the University Hospital Basel’s Liechti Lab, the leading global clinical research laboratory for LSD, to evaluate multiple therapeutic uses of psychedelics and next-gen psychedelic therapies. This new development is part of the collaboration and Dr. Matthias Liechti is serving as principal investigator of the clinical trial.
Numinus Wellness Inc. (TSXV:NUMI) has received Health Canada approval to amend the Company’s existing Licence under the Controlled Drug and Substances Act to allow Numinus researchers to conduct research to standardize the extraction of psilocybin from mushrooms. The amendment means Numinus is the first publicly traded company in Canada to be granted a licence by Health Canada to conduct research of this kind. With this regulatory approval, Numinus is able to proceed with the production of naturally sourced, sustainable psilocybin for research purposes that will support the emerging field of psychedelic assisted therapy and research, at lower costs to currently produced synthetic psilocybin. The licence also allows Numinus to develop and licence its own exclusive IP for further product development in partnership with leading research organizations — something the research community has been seeking to secure. The work will be eligible for the Government of Canada’s Scientific Research and Experimental Development (SR&ED) tax incentive program and will lay a foundation for grant applications.
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