Novamind (NM.C) announced that their wholly-owned subsidiary, Cedar Clinical Research (CCR), has been selected by Merck to be a key research site for a clinical trial focused on treatment-resistant depression (TRD).
Merck (NYSE:MRK) is a research-intensive biopharmaceutical company who are at the forefront of research to prevent and treat diseases that threaten people and animals.
Working on the phase II clinical study, CCR will assess the efficacy and safety a new Merck drug for TRD. Up to a third of patients who suffer from depression do not have their condition ameliorated by current treatments, so Merck’s new drug could fill an important need.
The study is a double-blind randomized control trial, and they expect around 140 patients to participate. The clinical trial will begin enrolling subjects this month, and they hope to start March 29, 2021 and finish October 24, 2023.
The title of the study is “A Phase 2a, Randomized, Placebo-Controlled Clinical Study to Evaluate the Efficacy and Safety of MK-1942 Added to Stable Antidepressant Therapy in Participants With Treatment-Resistant Depression.”
“We’re proud to partner with Merck and support its innovative neuroscience work to develop a potential new drug for treatment-resistant depression,” stated Dr. Reid Robison, Chief Medical Officer of Novamind and Principal Investigator at CCR, who has led over 100 clinical studies in neuropsychiatry. “CCR has unique expertise conducting clinical trials and research studies in neuropsychiatry, for a variety of sponsors. This exciting research opportunity with Merck exemplifies a growing pipeline of opportunities for us to provide contract research services to leading drug developers.”
Cedar Clinical Research’s selection demonstrates that other companies view them as being trustworthy, professional, and capable of running effective studies, including in the area of psychedelic medicines and neuropsychiatry. They run phase I to IV clinical studies in a variety of areas, including Post-Traumatic Stress Disorder (PTSD) and Borderline Personality Disorder (BPD).
CCR works on trial design, patient recruitment, and patient management for pharmaceutical companies, academic institutions, and non-profits. They believe they can create innovative treatments while overseeing the return of psychedelic medicine in a safe and effective way.
“Under Dr. Robison’s leadership, Cedar Clinical Research has proven itself as a best-in-class research site for emerging mental health therapeutics. We’re excited to work with Merck, a world-class pharmaceutical company, to advance research for innovative mental health treatments,” commented Yaron Conforti, CEO and Director of Novamind.
There has been a lot of movement on Novamind’s share price recently, and it is currently $1.69.
