Latest Psychedelic Sector News……..
MAPS: MDMA-Assisted Psychotherapy More Cost-Effective Than Other PTSD Treatments
This week, MAPS revealed a press launch discussing the findings of their peer-reviewed examine published earlier this month.
The examine reveals that MDMA-assisted psychotherapy is cost-effective when in comparison with present therapies for PTSD.
The magnitude of this saving is predicted to be within the vary of $103.2 million over 30 years per 1,000 sufferers; with breakeven occurring at simply over three years.
In many international locations, these financial savings would profit public healthcare methods or non-public insurance coverage firms.
If coupled with efficacy knowledge, which must be forthcoming in MAPS’ scientific trials, these value financial savings may construct a robust case for public healthcare methods and insurance coverage firms to offer MDMA-assisted psychotherapy sooner or later.
It must be famous that the estimates are probably conservative, as they don’t consider different monetisable advantages together with elevated productiveness and decrease incapacity funds that end result from efficient therapy of PTSD. More here.
MindMed: Closes CAD $28.75 million Financing
MindMed has closed a previously announced upsized financing, by way of a purchased deal, for gross proceeds of $28.75 million. 27.38 million models had been offered at a worth of $1.05 every. The Company now has money reserves of $50.1 million.
MindMed Co-Founder & Co-CEO, J.R. Rahn stated “The strong institutional investor interest for this oversubscribed financing demonstrates the vast appetite for companies pursuing clinical trials of psychedelic medicines with the FDA and other regulatory bodies.”
Field Trip: Update on FT-104 Molecule
Field Trip’s novel psychedelic molecule, FT-104, is discovered to be related in efficiency to psilocybin however with a shorter length of psychoactivity. The half-life of the molecule is roughly one-third of psilocybin’s. This makes it a doubtlessly preferable possibility for associated therapies.
This is additional to the outcomes introduced in late September, which demonstrated profitable GLP synthesis and that the molecule is a serotonin 5HT2a receptor agonist. We requested the Field Trip staff two fast questions: read their answers here.
Champignon: Submitted All Documents to BC Securities Commission; Remains Halted
Champignon has announced that they’ve submitted all documentation requested by the BC Securities Commission in reference to AltMed Capital Corp’s financials.
The Company will present definitive timing on the revocation of the order “as soon as possible.”
MagicMed: Agreements with University of Calgary
MagicMed today announced that it has entered right into a Research Contract and Facilities Use Agreement with the University of Calgary to speed up the event of its psychedelic derivatives patent library.
Havn: Supports Psilocybin Depression Study in Germany
Havn today announced that they’re donating $20,000 to assist analysis by the MIND Foundation in Germany, on a examine on melancholy and psilocybin.
Cybin Corp: Established a Firm Foothold within the Sector with Historic Raise (Editorial)
ATAI: Neuronasal Completes Pilot examine, Receives IND Clearance, for N-acetylcysteine
ATAI has announced that Neuronasal has completed its pilot examine supposed to indicate nostril to mind supply of N-acetylcysteine (NAC) in wholesome volunteers.
The Company has additionally been granted IND clearance by the FDA, permitting them to proceed Phase 1 scientific trial improvement with ATAI.
Note that NAC isn’t a psychedelic substance.
Pharmather: Files one other FDA Orphan Drug Designation for Ketamine; Scientific Advisor Appointment
Pharmather has filed an application with the FDA for Orphan Drug Designation, which is reserved for uncommon illnesses.
The use-case is ketamine within the therapy of Postherpetic neuralgia, a persistent neuropathic ache syndrome ensuing from a shingles (herpes zoster) outbreak.
This software follows Pharmather’s related software made on October 20th, for ketamine in Parkinson’s Disease.
Yesterday, the corporate introduced the appointment of Dr. Robert A. Hauser as a scientific and scientific advisor to the Company.
Entheon: Conditional Approval from CSE for Go-Public Agreement
MPV Exploration Inc. has introduced the Canadian Securities Exchange (CSE) has granted conditional approval to list Entheon shares on the Exchange.
Along with this, the amalgamation settlement announced in July and September has progressed to the next phases:
- Name Change: MPV Exploration Inc. turns into Entheon Biomedical Corp;
- Consolidation: three pre-consolidation widespread shares change into 1 post-consolidation share
Hollister Biosciences: Q3 Performance
No point out of psychedelics on this newest information from Hollister, however the Company reviews document quarterly income from its hashish manufacturers: CAD $12.5 million revenues, and CAD $1.265 million in EBITDA. Note that these should not audited figures.