Another busy week in the psychedelic sector, with many smaller companies not always covered here at Equity Guru making news. Let’s start with the biggest players though.
MindMed announced that they have agreed to partner with Forian (FORA.Q), who provide evidence-based support for clinical and commercial decision making. Forian and MindMed will collaborate to create best practices for using real-world evidence information to improve their treatments. In the press release, MMED says this is to improve patient outcomes, but it is also important to make sure their treatments do well on the metrics used by the FDA when deciding whether to grant approval of a given treatment.
Forian uses innovative new technologies driven by data science and built upon proprietary data. They use a ‘Data Factory’ which “transforms raw, unstructured, disparate data into a cleansed, connected, and normalized data lake, supporting efficient and scalable analytics.”
Mindset announced they have filed a new patent with the US Patent and Trade Office (USPTO), extending its Family 4 compounds, a set of novel DMT/5-MeO-DMT analogs. Mindset’s Family 4 compounds are DMT and 5-MeO-DMT inspired psychedelics that offer a broad range of pharmacological diversity suitable for in-clinic settings. Mindset are one of the first groups to file patent applications on next-generation versions of DMT and 5-MeO-DMT. According to the CEO of Mindset, James Lanthier, the goal is to make their version of DMT and 5-MeO-DMT “safer, more predictable, [and] more effective.”
MSET also announced that candidates from its Family 3 compounds (its microdosing family) have demonstrated extended duration of action and decreased effect size at the 5-HT2A receptor (serotonin receptors). These results indicate a potentially significant benefit in the sustained efficacy of the Family 3 compounds and an improved safety profile of current microdosing practices.
MYND announced that it has entered into a binding term sheet in respect of a non-brokered private placement offering of debenture units with a strategic institutional investor. The principal sum of the Debentures Units to be issued is up to $3,000,000, and will take 24 months to mature, bearing 5% interest per year, payable upon maturity. On top of the $1,000 principal amount of senior unsecured convertible debentures, purchasers will also receive warrants exercisable for 1,000 common MYND shares for 24 months at $1.00 a share.
KetamineOne Capital established a Medical Advisory Board to help guide the development of Ketamine One’s mental health platform and other aspects of the company. Ketamine One operates clinics across North America. The Board will be chaired by Ketamine One’s Chief Medical Officer Dr. Mark Kimmins, with Dr. Ravi Bains, Dr. Glen Brooks, Dr. Darren Cotterell, Dr. Dennis Filips and Dr. Quang Henderson also serving on the board.
Awakn Life Sciences (AWKN.NE)
Awakn announced it has received ethical approval to conduct the first-ever study of the effects of ketamine on gambling addiction. Awakn has begun to recruit patients for the study. The study will investigate a new treatment approach for gambling addiction, tackling both the urge to gamble and the “superstitious thinking” that accompanies gambling using ketamine and will test whether ketamine can modify the reward memories associated with gambling. There are currently no available pharmacological treatments for gambling addiction, an addiction which affects more than 10 million people in the US alone.
Silo Pharma (SILO.OCTQB)
Silo filed three distinct patent applications with the Patent Cooperation Treaty (PCT), the international patent system. The patents pertain to the central nervous system delivery of their anti-inflammatory therapeutics coupled with psilocybin.
Mind Cure announced they have released the minimum viable product version of iSTRYM, its digital therapeutics platform (DTx) for psychedelics, into partner clinics across North America, with a full commercial deployment to all clinics expected to begin in the first quarter of 2022.
The company forecasts 150 clinics in Canada, the United States and Europe utilizing iSTRYM by the fourth quarter of 2022. iSTRYM is a first-of-its-kind software as a service (SaaS) designed to support clinicians in the daily management of practice and patients.
Nova Mentis entered into a shares for debt settlement agreement, which will see them issue 101,904 common shares to a director of the company at a deemed price of 10.5 cents per settlement share, thereby extinguishing $12,700 in liabilities.
Tryp announced they have finished training their psychotherapists for an upcoming Phase 2a clinical trial using synthetic psilocybin in combination with psychotherapy for overeating disorders.
The training was conducted by Fluence, an organization who offer a series of continuing education programs in psychedelic integration and psychedelic-assisted therapy, both for licensed professionals and for graduate students. Tryp expects to initiate at least two Phase 2a studies for their PFNTM program in 2021 with IND’s submitted in 3Q 2021
Mycotopia Therapies (TPIA.OTCPink)
Mycotopia entered into a Psilocybin Supply Agreement with Havn Life Sciences (HAVN.C). Under the agreement, Havn Life Sciences will supply Mycotopia Therapies with naturally-derived psilocybin, who will be classified as a specialty pharmaceutical company focused on the research, development, and commercialization of novel therapeutics for unmet needs. Mycotopia Therapies intends to build a distribution channel to supply naturally-derived psilocybe spp compounds.
NeonMind announced that their common shares listed on the OTCQB under the symbol ‘NMDBF’ are now eligible for electronic clearing and settlement through the Depository Trust Company in the United States. DTC eligibility allows for cost-effective clearing and guaranteed settlement, allowing more people to invest in the company more easily.