Psychedelics are quickly going mainstream. With US FDA support, several clinical studies, and parts of Europe and the U.S easing restrictions on psilocybin to help treat a range of mental health issues, the story could gain even more momentum in the New Year. Better, big pharmaceutical companies could begin to enter the psychedelic space, repots Wired. In fact, “As patents on many conventional antidepressants begin to expire – and public and regulatory opinion regarding psychedelics is changing – 2021 will be the time that psychedelic therapy casts a spotlight on the limitations of current mental-health care treatments, and highlights a bold alternative.”
In addition, we may soon learn psilocybin could potentially assist in treating eating disorders and obesity. That's because psilocybin activates serotonin receptors, or "nature's own appetite suppressant," as noted by Psychology Today. "This powerful brain chemical curbs cravings and shuts off appetite. It makes you feel satisfied even if your stomach is not full. The result is eating less and losing weight." With the story gaining big momentum, some of the top companies to keep an eye on include NeonMind Biosciences Inc. (CSE: NEON), HAVN Life Sciences Inc. (CSE:HAVN), Field Trip Health Ltd. (CSE:FTRP)(OTC:FTRPF), Numinus Wellness Inc. (TSXV:NUMI)(OTC:LKYSF), and Cybin Inc. (NEO:CYBN)(OTC:CLXPF).
NeonMind Biosciences Inc. (CSE: NEON), BREAKING NEWS: NeonMind Biosciences Inc. is pleased to announce that its common shares have today commenced trading on the Canadian Securities Exchange under the ticker symbol “NEON”. More information on NeonMind can be found at www.neonmindbiosciences.com.
NeonMind completed its oversubscribed Initial Public Offering on December 30, 2020, for gross proceeds of $4,600,000. NeonMind is a psychedelic drug development company. Its mission is to help people change their lives by changing their minds, through treatment with psychedelics.
NeonMind’s first step is tackling one of the biggest health issues the world is facing right now: obesity. It’s an epidemic that is responsible for 37% of the global burden of disease, according to the National Centre for Biotechnology Information. NeonMind is exploring psilocybin (a complex organic compound found in psychedelic mushrooms) as an innovative treatment approach to weight loss through a preclinical trial. It has hired the University of British Columbia, who has been granted authorization by Health Canada to use Psilocybin in NeonMind’s Preclinical Trial, to test the potential use of Psilocybin to improve eating habits and cause weight loss. The Preclinical Trial started in November 2020 and NeonMind expects to complete an application for a Phase 2 Human Trial in the spring of 2021.
NeonMind has filed 5 US provisional patent applications claiming methods of aiding in weight loss, treating compulsive eating disorder, treating obesity or a complication of obesity, and/or altering the diet of an individual by administering psilocybin and/or other psychedelic compounds or their analogs or by administering psilocybin or its analog in conjunction with therapy or other treatments. NeonMind is also pursuing commercialization of its catalogue of proprietary medicinal mushroom product formulas. It recently launched a collection of 4 mushroom infused coffees which are infused with medicinal mushrooms Lion’s Mane, Turkey Tail, Reishi and Cordyceps. The NeonMind eCommerce platform launched in November 2020 at www.neonmind.com for direct to consumer sales of these products.
“Our public listing is a significant milestone for us as we execute on our plan to grow our intellectual property portfolio and product development pipeline,” says NeonMind founder and CEO, Penny White, “We are extremely grateful to the investment community for their participation in our successful public offering and we look forward to strategically increasing shareholder value as we advance our business in the psychedelic sector.”
As part of NeonMind’s disclosure obligations as a reporting issuer, ongoing financial and material filings can be found on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. For more information on NeonMind, go to www.NeonMindbiosciences.com or buy NeonMind mushroom infused coffee at www.NeonMind.com.
Other related developments from around the markets include:
HAVN Life Sciences Inc. (CSE:HAVN), a biotechnology company pursuing standardized extraction of psychoactive compounds, the development of natural healthcare products, and innovative mental health treatment to support brain health and enhance the capabilities of the mind, is pleased to announce it is partnering with Complex Biotech Discovery Ventures to begin Health Canada approved analysis of psilocybin under Havn Life’s section 56 exemption. CBDV is a licensed cannabis research and development firm focusing on extraction, optimization, analytical testing and chemical process development based at the Vancouver Campus at the University of British Columbia.
Field Trip Health Ltd. (CSE:FTRP)(OTC:FTRPF), a global leader in the development and delivery of psychedelic therapies, and WHOOP, the human performance company, announced a partnership whereby Field Trip will be using WHOOP Strap 3.0 to measure the biometric effects of Field Trip’s psychedelic therapies. Field Trip, which is opening Field Trip Health centers across North America and Europe for the delivery of psychedelic therapies, plans to conduct an observational study to assess whether Field Trip’s ketamine-assisted therapies, which have demonstrated significant efficacy in treating mental health conditions such as depression, anxiety and PTSD, translate into improvements in physical health through a variety of biometric measures collected via WHOOP Strap 3.0 including heart rate variability (HRV), resting heart rate, and overall sleep quality. Field Trip procured WHOOP products and access to additional data insights via a research partnership and enterprise program.
Numinus Wellness Inc. (TSXV:NUMI)(OTC:LKYSF), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies, is pleased to announce that it has closed its previously announced bought deal public offering of units through Canaccord Genuity Corp. and Eight Capital pursuant to a short form prospectus dated December 21, 2020. Pursuant to the Offering, the Company issued 25,367,850 Units, on an underwritten basis, at the purchase price of $0.68 per Unit, for aggregate gross proceeds to the Company of $17,250,138, which includes the exercise, in full, by the Underwriters of the over-allotment option granted by the Company to purchase an additional 3,308,850 Units at the Offering Price.
Cybin Inc. (NEO:CYBN)(OTC:CLXPF), a life sciences company focused on psychedelic pharmaceutical therapies, is pleased to announce that it has closed on its acquisition of 100% of the shares in Adelia Therapeutics Inc. up to CDN$20,161,575 (approximately USD$15.75 million). Adelia is an innovative biopharmaceutical company committed to addressing unmet mental health needs through developing proprietary psychedelic therapeutics with improved dosing efficacy and therapeutic indices. Adelia’s leadership team brings a wealth of clinical development experience. Adelia’s team have previously worked with pharmaceutical companies including Johnson & Johnson, GlaxoSmithKline, Sanofi, Roche, Pfizer and Eli Lilly, and maintain academic research affiliations, including with the MIT, Harvard, Stanford, Yale, and Northeastern University.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. NeonMind Biosciences Inc. has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of NeonMind Biosciences Inc.
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