Core One Labs (COOL.C) has announced they are collaborating with Ketamine Infusions Centers of Texas (KICT) to explore the development of a program for N-dimethyltryptamine (DMT) assisted psychotherapy to address anxiety and depression.
The first clinical trials assessing the efficacy of DMT as a treatment for depression was approved in December 2020 in the UK by the Medical and Healthcare Products Regulatory Agency (MHRA). Phase I of these trials began in January 2021, with proof of concept Phase IIa expected to follow shortly thereafter. The research is being conducted by Small Pharma in collaboration with the Centre for Psychedelic Research at Imperial College London.
DMT’s effects typically only last for 30 minutes and usually begin within a minute of inhalation or injection. This fast action provides an advantage for DMT in therapeutic situations over other psychedelics, which typically take much longer to activate and whose effects last much longer. For instance, it commonly takes 30 minutes to 2 hours for the effects of psilocybin mushrooms to fully manifest themselves, and the effects generally last between 4 and 6 hours after they begin.
“We have chosen to explore DMT assisted therapy research due to its recent acceptance from the MHRA for clinical studies. In addition, it has a quick onset action and the short time periods it remains effective are very similar to ketamine. DMT delivers a psychedelic experience in 20 minutes and has distinct properties that lend itself well for clinical use. We believe it will be a very viable solution for the treatment of depression in the future,” stated Joel Shacker, CEO of Core One Labs.
Currently, DMT is a Schedule I substance in the US and is considered a class A drug in the UK, making it illegal to buy, sell, or possess, but DMT is an active ingredient in ayahuasca which is currently legal under specific conditions in Brazil, Costa Rica, Italy, Peru, and Romania.
Most DMT comes from the harvesting of the venom of Bufo Alvarius toads and from a variety of plant species, but it can also be produced synthetically. If the substance becomes part of regulated therapies, making it synthetically in a controlled environment will become increasingly common. However, trials are still in their earliest stages.
The stock price did not move significantly following the announcement.
Full disclosure: Core One Labs is an Equity.Guru marketing client.