Psychedelics have become the new mental health buzzword. With clinical trials supporting psychedelic treatments for the treatment of obsessive-compulsive disorder, PTSD, opioid addiction, alcoholism, eating disorders, depression and anxiety, it’s only a matter of time before big pharmaceutical companies begin to invest heavily, and incorporate psychedelics into their own drug pipelines. That could be substantial news for companies like Psyched Wellness Ltd. (CSE:PSYC)(OTC:PSYCF), Cybin Inc. (NEO:CYBN)(OTC:CLXPF), Mind Medicine Inc. (NEO:MMED)(OTC:MMEDF), Entheon Biomedical Corp. (CSE:ENBI)(OTC:ENTBF), and Numinus Wellness (TSXV:NUMI)(OTC:LKYSF).
In addition, Institutions such as Johns Hopkins are finding that psychedelics can assist in the treatment of many health and mental issues impacting millions of people around the world. Even the University of California, San Francisco formed a Neuroscape Psychedelics Division to focus on the delivery of “more personalized and precise psychedelic treatments for various mental health conditions,” as noted by the Psychiatry & Behavioral Health Learning Network.
In short, the psychedelics story is only growing stronger by the day.
Psyched Wellness Just Received DTC Eligibility
Psyched Wellness Ltd.(CSE:PSYC)(OTC:PSYCF), a life sciences company focused on the production and distribution of artisanal functional and psychedelic mushrooms, is pleased to announce that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company. DTC is a subsidiary of the Depository Trust & Clearing Corp. that manages the electronic clearing and settlement of publicly traded companies in the United States.
Psyched common shares are now fully DTC eligible and will continue to trade under the ticker symbol “PSYCF” on the OTCQB. Through an electronic method of clearing securities, DTC eligibility simplifies the process of trading and transferring the Company’s common shares between brokerages in the United States.
Jeff Stevens, CEO, comments, “By achieving DTC eligibility, Psyched shares become more accessible to an even broader range of investors. This important milestone will strengthen our U.S. and global shareholder base and increase the liquidity of our common shares to the benefit of all investors. Psyched stock is now traded in Canada (PSYC), Germany (5U9) and the United States (PSYCF) positioning the Company in both domestic and international markets to continue to grow a global investor base.”
Other related developments from around the markets include:
Cybin Inc., a biotechnology company focused on progressing psychedelic therapeutics, announced plans to advance the pre-clinical work for its orally dissolving tablet formulation of CYB003 and its inhaled formulation of CYB004, two of the Company’s deuterated tryptamine development candidates. These studies are part of the required U.S. Food and Drug Administration enabling trials for investigational new drug applications. Upon successful completion, the results of the IND-enabling studies will be included in the submissions to the FDA, as well as to other regulatory bodies, such as Health Canada and European Medical Association (“EMA”). The candidates would then advance into Phase 1 human clinical trials for specified psychiatric conditions. Labcorp Drug Development will serve as the pre-clinical research organization for Cybin.
Mind Medicine Inc., a leading clinical-stage psychedelic medicine biotech company, announced the publication of the first study on MDMA dosing optimization using personalized medicine. The study took place at the University Hospital Basel Liechti Lab, in Basel, Switzerland. This study provides the first scientific data for predicting responses to MDMA and optimizing dosing. This may maximize the potential beneficial therapeutic effects while reducing adverse responses when treating medical conditions.
Entheon Biomedical Corp., a biotechnology company focused on developing psychedelic medicines to treat addiction, announces the launch of the industry’s first Psychedelics Genetic Test Kit, developed by wholly-owned subsidiary, HaluGen Life Sciences Inc., and that it is now available for sale within Canada. HaluGen’s psychedelic pre-screening platform and DNA testing provides genetic, personal and familial insights to better inform one’s psychedelic assisted therapy experience. By obtaining DNA test results, individuals and healthcare professionals are equipped with data to improve psychedelic assisted therapy patient care and reduce side effects and risk. The first of its kind, the proprietary test kit and platform are also expected to be available for purchase in US market within the coming months. The Company is currently pursuing various strategic partnerships with the goal of building brand awareness.
Numinus Wellness, a company creating an ecosystem of health solutions centered around the safe, evidence-based and accessible use of psychedelic-assisted psychotherapies, is pleased to announce that it has closed a bought deal financing of 28,000,000 units of the Company at a price of $1.25 per Unit for total gross proceeds of $35 million. The Offering was conducted by Eight Capital and Canaccord Genuity Corp. The Underwriters also exercised their over-allotment option in full to purchase an additional 4,200,000 Units for additional gross proceeds of $5.25 million. Including the proceeds from the exercise of the over-allotment option, the total gross proceeds of the Offering are $40.25 million with an aggregate of 32,200,000 Units issued.
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