Much like cannabis, psychedelics are quickly going mainstream – and fast, most notably psilocybin. In fact, just over the last few months, Denver, Oakland, and Santa Cruz have recently legalized its use. Joining them, Ann Arbor, Michigan lawmakers voted to decriminalize psilocybin mushrooms, as well. In addition, a ballot in Oregon could legalize its use by November 2020. Plus, with plenty of clinical trials supporting psychedelic treatments, it’s only a matter of time before big pharmaceutical companies begin to invest heavily, and incorporate psychedelics into their own drug pipelines. It’s part of the reason that Eight Capital estimates the total market for mental health treatment could be valued at up to $100 billion. As the story continues to explode, some of the top companies to watch include Revive Therapeutics Ltd. (CSE:RVV)(OTC:RVVTF), Mind Medicine Inc. (OTC:MMEDF), COMPASS Pathways (NASDAQ:CMPS), Numinus Wellness Inc. (TSXV:NUMI), and Johnson & Johnson (NYSE:JNJ).
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 it has signed a supply agreement with Havn Life Sciences (CSE:HAVN) to source naturally-derived psychedelic compounds, such as psilocybin, for use in future investigational new drug enabling studies and clinical trials under the Food and Drug Administration guidelines.
"We are excited about our strategic partnership with Havn Life as one of our suppliers of psychoactive compounds that we intend to develop and commercialize using our established tannin-chitosan based proprietary oral-thin film delivery system, for the pharmaceutical and wellness markets,” said Michael Frank, Revive’s Chief Executive Officer. “We are developing unique products with both synthetic and naturally-derived psilocybin and building relationships with companies and institutions that support our objectives in the psychedelic space including our established relationship with the University of Wisconsin-Madison in the research and clinical development of our novel Psilocybin oral-thin film product and the Phase 1 clinical study using psilocybin in the treatment of methamphetamine use disorder.”
Havn Life Sciences is focused on standardized, quality-controlled extraction of psychoactive compounds from plants and fungi, and the development of natural health care products from non-regulated compounds.
Susan Chapelle, Co-CEO, Havn Life added: “Our path at Havn Life has always been very clear: to supply standardized, quality controlled compounds to researchers so they can do the research that’s necessary to document health and wellness benefits of psychedelic medicine and ultimately help the industry with the knowledge required to legalize these compounds. We are thrilled to have signed this supply agreement with Revive Therapeutics to help further their work in this field. Both of our companies are leading innovators in the space, and we look forward to helping Revive achieve their goals with our compound supply.”
Revive’s Psilocybin Oral Thin-film Product
Under its sponsored research partnership with the Reed Research Group out of the University of Wisconsin-Madison, the Company is developing its tannin-chitosan composite of orally dissolvable thin films which offers a unique delivery platform for therapeutic doses (1-20mg) of psilocybin into the oral cavity. There are a number of advantages and benefits of an orally dissolvable psilocybin thin film such as the rapid dissolving and onset of action to the bloodstream, the ease and convenience for patients to administer without the need of water, chewing or swallowing, the potential of improved therapeutic outcomes and efficacy for underserved diseases and disorders including the flexibility to create accurate dosing and tasteful options. The Company’s delivery technology is a natural, non-toxic, biodegradable and biocompatible composite that combines a tannin material, which is derived from a plant group having antibacterial, antifungal, antioxidant and wound healing properties, and a chitosan material, which is derived from the crustacean group having blood-clotting and antimicrobial properties. The delivery technology has a rapid onset of action and controlled or sustained release potential capabilities and may allow combining multiple extracts from mushrooms in one formulation.
Revive’s Clinical Study of Psilocybin in the Treatment of Methamphetamine Use Disorder
The Company has entered into a Clinical Trial Agreement with the Board of Regents of the University of Wisconsin System to conduct a clinical study entitled “Phase I Study of the Safety and Feasibility of Psilocybin in Adults with Methamphetamine Use Disorder.” The Phase I study Principal Investigator is Dr. Christopher R. Nicholas, Ph.D., Assistant Professor of Program for Research Outreach Therapeutics and Education in the Addictions in the Department of Family Medicine and Community Health at University of Wisconsin School of Medicine and Public Health. 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. The Company will have exclusive access to key intellectual property from this study.
Other related developments from around the markets include:
Mind Medicine Inc. (OTC:MMEDF) the leading psychedelic medicine biotech company, on the heels of filing a NASDAQ uplisting application, announced a funding commitment to found and launch a clinical training program focused on psychedelic assisted therapies and psychedelic inspired medicines at NYU Langone Health, one of the nation's premier academic medical centers. The NYU Langone Health Psychedelic Medicine Research Training Program is the first step in a larger initiative to establish a Center for Psychedelic Medicine at NYU Langone Health. "NYU Langone Health and the NYU Grossman School of Medicine are ideal partners for MindMed as we continue to evaluate and research future psychedelic assisted therapies and medicines for substance abuse disorders and other mental illnesses," said MindMed Co-Founders and Co-Chief Executive Officers J.R. Rahn and Stephen L. Hurst. "In order for our industry and company to turn these once stigmatized substances into medicines, we need to build the critical training infrastructure in the United States to train clinical researchers, psychiatrists, mental health professionals and substance abuse counselors who will ultimately be our close partners in delivering these future potential therapies and medicines to millions of patients in need."
COMPASS Pathways (NASDAQ:CMPS) a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, announced the closing of its previously announced initial public offering of 8,625,000 American Depositary Shares representing 8,625,000 ordinary shares at an initial public offering price of $17.00 per ADS, which includes 1,125,000 additional ADSs issued upon the exercise in full by the underwriters of their option to purchase additional ADSs. The total gross proceeds to COMPASS from the offering were $146.6 million. All ADSs sold in the offering were offered by COMPASS. The ADSs began trading on the Nasdaq Global Select Market on September 18, 2020 under the ticker symbol “CMPS.” Cowen, Evercore ISI and Berenberg are acting as joint book-running managers for the offering. Canaccord Genuity is acting as lead manager and H.C. Wainwright & Co. is acting as co-manager for the offering.
Numinus Wellness Inc. (TSXV:NUMI), a company creating an ecosystem of health solutions centred on developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies, is pleased to announce it has begun cultivating Psilocybe mushrooms, for the purpose of psilocybin production, at its 7000 square-foot Health Canada licensed facility. Psilocybin-assisted psychotherapy is currently being studied as a treatment for a range of mental health conditions including depression, anxiety, and substance use disorders. Under its Health Canada licence for the production and extraction of psilocybin from mushrooms, Numinus intends to cultivate and harvest the mushrooms for a variety of purposes including development of standardized extraction methods, exploration of product formulations of naturally occurring psilocybin, development and evaluation of qualitative and quantitative mycochemicals standardized test methodologies, exploration of the ability to investigate naturally occurring psilocybin's efficacy as an alternative supply to synthetic psilocybin currently used in research, and ultimately, the delivery of safe, evidence-based psilocybin-assisted psychotherapy at clinics including its own.
Johnson & Johnson (NYSE:JNJ) will participate in the Credit Suisse 29th Annual Virtual Healthcare Conference on Wednesday, November 11th. Joaquin Duato, Vice Chairman of the Executive Committee and Thibaut Mongon, Executive Vice President, Worldwide Chairman Consumer Health will represent the Company in a session scheduled at 11:45 a.m. (Eastern Time). This webcast will be available to investors and other interested parties by accessing the Johnson & Johnson website.
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