Mental health is on the decline all over the world. In fact, as you read this, nearly 264 million people are struggling with depression, for example. While some of us are better at hiding our depression than others, it can be a real struggle, especially with the potential anxiety, irritability, and hopelessness. Many even “put on a face” so others aren’t aware of how they really feel. It’s not fun. It’s not easy. To help alleviate the symptoms of depression, many turn to anti-depressants such as SSRIs (selective serotonin reuptake inhibitors). Problem is -- SSRIs aren’t always useful, focusing more on symptom suppression than root cause. Fortunately, companies are finding that psychedelics, like psilocybin may be useful, including MYND Life Sciences Inc. (CSE:MYND), Field Trip Health Ltd. (CSE:FTRP)(OTC:FTRPF), Mind Medicine Inc. (NASDAQ:MNMD)(NEO:MMED), Compass Pathways (NASDAQ:CMPS), KetamineOne Capital Limited (NEO:MEDI)(OTC:KONEF).
In addition, the US FDA is backing research into psilocybin. In 2018, for example, the agency recognized psilocybin as “breakthrough therapy” for depression. Two, clinical studies from the likes of Johns Hopkins, and New York University are already showing positive results. A study from JAMA Psychiatry found that psilocybin “worked better than the usual antidepressant medications,” as noted by NPR. Plus, The Beckley Foundation said, “Psilocybin was well-tolerated and induced rapid and lasting reduction in the severity of depressive symptoms.”
MYND Life Sciences Just Announced Patent Applications for Depression Drugs and Neuropsychiatric Disorders
MYND Life Science Inc., a drug research and development company focused on novel psychedelic drug development, diagnostic approaches and pharmaceuticals, is pleased to announce it has filed additional provisional patents that utilize various psilocybin analogs to target clinical depression.
Major depressive disorder is a common and sever illness that is estimated to affect approximately 264 million people globally. The Company currently has two flagship drugs in the development pipeline; MYND-604 and MYND-778, with several other indications identified. MYND-604 is the lead candidate being developed as a novel oral dosage to treat Major Depressive Disorder and brings much needed innovation to the antiquated multibillion-dollar Selective Serotonin Reuptake Inhibitor market.
Patent Filing Highlights:
- The patent application targets regulation of inflammation and immune responses by modulating the Human Mycogene by turning a pro-inflammatory state into an anti-inflammatory state.
- The patent application addresses methods of inhibiting neuroinflammation to potentially treat a wide variety of neuropsychiatric disorders, including but not limited to; Major Depressive Disorder, schizophrenia, anxiety, bipolar disorder, obsessive-compulsive disorder (OCD), posttraumatic stress disorder (PTSD), among others.
- The patent application strengthens MYND’s IP Portfolio and establishes the foundation of the Company’s novel drug development platform as it moves towards commercialization.
- The patent covers a wide variety of molecules including psychedelics such as all analogs of psilocybin, LSD, mescaline and DMT
“Traditional pharma has not taken an innovative approach to R&D as we have seen little innovation to SSRI’s and other anti-depressants in over 30 years. MYND’s drug discovery process utilizes specific psilocybin analogues that we believe have the ability to positively impact patients dealing with a variety of neuropsychiatric disorders,” stated Dr. Lyle Oberg, CEO of MYND. “We have a tremendous opportunity to develop viable alternatives to the current suite of SSRIs for individuals living with depression,” continued Dr. Oberg.
The MYND-604 provisional patent helps advance the Company’s drug development pipeline, the Company anticipates commencing clinical trials during Q4 of 2021.
“MYND continues to execute upon its multi-phase drug development strategy to create a novel drug discovery platform and research on the potential efficacy of psychedelic molecules to address unmet mental health needs; dosing control for enhanced drug delivery; and a potential novel diagnostic and treatment regiment,” stated Dr. Wilfred Jefferies, MYND’s Chief Science Officer.
Other related developments from around the markets include:
Field Trip Health Ltd., a leader in the development and delivery of psychedelic therapies, is pleased to announce that it has received conditional approval to list its common shares and warrants on the Toronto Stock Exchange. The listing is subject to the company fulfilling certain requirements of the TSX in accordance with the terms of its conditional approval letter dated May 26, 2021. Field Trip is actively working to satisfy the requirements and conditions that were highlighted in the approval letter and management is confident that all conditions for listing will be met in the coming weeks. Upon obtaining final approval, the Company will issue an additional press release to inform shareholders when it anticipates that its common shares will commence trading on the TSX.
Mind Medicine Inc. just announced that J.R. Rahn, the Company’s co-founder and chief executive officer, is stepping down as chief executive officer and a director, and that its chief development officer, Robert Barrow, will assume the position of chief executive officer with immediate effect. The Company will also initiate a comprehensive search for a chief executive officer, in which Mr. Barrow will be a candidate, and Mr. Rahn will advise the Company during its leadership transition. The transition of the Company’s leadership team will enable the Company to pursue aggressively its clinical development programs and development of its companion innovative digital technologies.
Compass Pathways, a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, has reported further results from a phase I study showing that its COMP360 psilocybin had no clinically-relevant negative effect on cognitive function, when administered to healthy adult volunteers with support from specially trained therapists. Dr. Ekaterina Malievskaia, Chief Innovation Officer and Co-founder, COMPASS Pathways, said: “This study is an important part of our clinical development programme of psilocybin therapy for treatment-resistant depression (TRD). The results are encouraging and we are looking forward to reporting data from our phase IIb trial of COMP360 psilocybin therapy for treatment-resistant depression (TRD) later this year.”
KetamineOne Capital Limited, a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments, is pleased to announce that the Company has entered into an Arrangement Agreement with its wholly-owned subsidiary Milgauss Investments Ltd. In accordance with the terms of the Arrangement Agreement, the Company will transfer the investments and certain securities held by it in exchange for 1,007,729 common shares of SpinCo. Subsequent to the transfer being completed, Ketamine One is expected to spin out the Consideration Shares to the Company’s shareholders.
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