New Wave Holdings (SPOR.C) entered a joint venture with the University of West Indies for drug discovery and improve knowledge of medicinal plants in Jamaica, according to a press release.
More than drug discovery, this JV will focus on the development of techniques involving local microclimate conditions and local research and commercial advantages in order to explore natural products and potentially seek patents.
“This will be a joint effort between New Wave and UWI brain trust to enhance awareness, innovate new remedies of therapy, and shed light on the medicinal plants and their ultimate consumer health benefits,” said Daniel Fox, chief executive officer for New Wave Holdings.
New Wave Holdings is an investment firm involved in the psychedelic sector, providing support for adaptive and progressive mental health products and therapies. They’re focusing right now on supporting research and active psychedelic compounds and the creation and marketing of consumer products based on functional mushrooms, as well as developing an IP portfolio focusing in psilocybin, LSD MDMA and ketamine based treatments for neuropsychiatric diseases.
The terms of the strategic partnership including having New Wave give capital, resources and support for the drug discovery process through the University faculty and facilities. UWI will do the actual research with the objective being to highlight and push development of various components or compounds in early drug discovery stages, while exploring various plants and fungi that show results regarding areas like cancerous properties, diabetes, hypercholesterolemia, and inflammation. Facility research will be led by scientific professors specializing in these areas.
A few of the opportunities available for both parties include:
- Research and development of therapeutic drugs and natural health products that are derived from local plants and fungi;
- Commercial activities that can exploit patents, and other research results, concerning local biodiversity;
- Advancing the knowledge of medicinal plants in Jamaica;
- Increase awareness of medicinal plant health.
Both have agreed on a model where UWI provides research services, including personnel and facilities, and New Wave provides the funding. The details of which, including research projects, funding required and the ownership of the intellectual property and licensing terms, will have to be negotiated on a case-by-case basis.
—Joseph Morton
