Psilocybin was one of the biggest winners on election night. All after Oregon became the first state to legalize its use with Measure 109. The state now joins the cities of Denver, Oakland, and Santa Cruz, which have legalized the use of psilocybin, as well. Helping quite a bit, new studies are showing the drug could be a major breakthrough for treating the symptoms of depression. In fact, a new study from JAMA Psychiatry, for example just found that psilocybin “worked better than the usual antidepressant medications,” as noted by NPR. “The effect was more than four times greater,” added Alan Davis, an author of the study and a faculty member at both Johns Hopkins University. “There was a significant reduction in depression in the immediate-treatment group compared to those in the wait list.” As the psilocybin story continues to evolve, some of the top companies to watch include Revive Therapeutics Ltd. (CSE:RVV)(OTC:RVVTF), Mind Medicine Inc. (OTC:MMEDF), COMPASS Pathways (NASDAQ:CMPS), Cybin Inc. (NEO:CYBN), and HAVN Life Sciences (CSE:HAVN).
Revive Therapeutics Ltd. (CSE:RVV)(OTC:RVVTF) BREAKING NEWS: Revive Therapeutics Ltd., a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to is pleased to provide an update on its oral thin-film delivery system with psilocybin being developed under a research partnership agreement with Reed Research Group out of the University of Wisconsin-Madison.
Following several months of prototyping on a wide range of dosage forms, the Company has completed an oral thin-film strip product with psilocybin with dosage forms ranging between 1 mg and 20 mg and demonstrating its versatility through physio-chemical characterization (e.g. tensile strength of films) of bio comparable tannin-chitosan composite materials, dissolution and disintegration testing, and rate of psilocybin release from composites. Currently technical and scientific data is being processed and finalized.
“We are very pleased to have achieved this development milestone of our orally dissolvable thin film strip for psilocybin, which can be used in FDA human clinical studies and as a unique product for medical use in states where psilocybin therapy use is permitted, such as Oregon following the passage of Measure 109,” said Michael Frank, CEO of Revive. “There is a significant market opportunity for our unique oral thin film strip technology for not only delivering psilocybin but also delivering numerous psychedelic-based medicines to treat various diseases and disorders that would benefit from such a delivery method. Also, we are in a position to begin partnering with life sciences companies seeking to add unique offerings in their psychedelic-based product pipeline and with companies operating in the U.S. where psilocybin therapy use is legal.”
Psilocybin Oral Thin-film Product
Under its sponsored research partnership with the Reed Research Group out of the University of Wisconsin-Madison, the Company is developing its tannin-chitosan composite of orally dissolvable thin films which offers a unique delivery platform for therapeutic doses (1-20mg) of psilocybin into the oral cavity. The Company has finalized the prototypes and is preparing to scale for manufacturing for future clinical studies involving psilocybin and other psychedelic-derived medicines.
There are a number of advantages and benefits of an orally dissolvable psilocybin thin film such as the rapid dissolving and onset of action to the bloodstream, the ease and convenience for patients to administer without the need of water, chewing or swallowing, the potential of improved therapeutic outcomes and efficacy for underserved diseases and disorders including the flexibility to create accurate dosing and tasteful options.
Revive’s Drug Delivery Technology
The drug delivery technology aims to deliver both synthetic and natural extract of psilocybin in a potential number of ways such as orally dissolvable thin films, topical gels, creams or ointments, oral or transdermal patches, oral dosages and foams.
The delivery technology is a natural, non-toxic, biodegradable and biocompatible composite that combines a tannin material, which is derived from a plant group having antibacterial, antifungal, antioxidant and wound healing properties, and a chitosan material, which is derived from the crustacean group having blood-clotting and antimicrobial properties. The delivery technology has a rapid onset of action and controlled or sustained release potential capabilities and may allow combining multiple extracts from mushrooms in one formulation.
Other related developments from around the markets include:
Mind Medicine Inc. (OTC:MMEDF), the leading psychedelic medicine biotech company in partnership with University Hospital Basel’s Liechti Lab announces the completion and publication of a Phase 1 study on the acute dose dependent effects of LSD. The completed Phase 1 study will help MindMed in dose-finding and the planning of future Phase 2 clinical trials of LSD in patients with anxiety disorders and other medical conditions. Specifically, the Phase 1 study measured LSD dose-dependently induced subjective responses starting at microdoses (25 ug) up to experiential doses (200 ug). Maximal good drug effects were reached at a 100 ug dose. However, an experiential dose of 200 ug LSD was shown to induce greater ego dissolution than a lesser 100 ug dose. Ego-dissolution is thought to be one of the key therapeutic potentials of the psychedelic experience and psychedelic assisted therapy process.
COMPASS Pathways (NASDAQ:CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, has joined the Psychiatry Consortium, an international collaboration to accelerate drug discovery and development in areas of urgent, unmet medical need. The Psychiatry Consortium, managed by Medicines Discovery Catapult, is a strategic collaboration of leading medical research charities and pharmaceutical companies focusing on the challenge of identifying and validating novel drug targets to address the unmet therapeutic needs of people living with mental health conditions. COMPASS Pathways will work alongside Psychiatry Consortium members and academic partners to advance research projects, providing support through access to funding, expertise, and commercialisation know-how. The Psychiatry Consortium seeks project proposals from the global psychiatric research community via biannual open calls for applications – the next call for applications will open in January 2021.
Cybin Inc. (NEO:CYBN), a leading Toronto-based biotech and life sciences company focused on psychedelic pharmaceutical therapies, has made its debut on the global public markets today. Cybin is now trading on the NEO Exchange under the symbol NEO:CYBN. The Company recently closed a CDN$45 million subscription receipt financing in relation to its reverse takeover transaction, which marked the largest subscription receipt financing in the Canadian psychedelic sector. The Company focuses on psychedelic drug development, unique delivery mechanisms, improved novel compounds, and protocols that target psychiatric and neurological conditions. Supported by a management and advisory team with expertise in the psychedelic, pharmaceutical and nutraceutical sectors, Cybin is working alongside the Canadian Centre For Psychedelic Science to study the safety and efficacy of psilocybin-based microdosing. The Canadian Centre For Psychedelic Science is responsible for some of the first published research on microdosing in Canada.
HAVN Life Sciences (CSE:HAVN), a biotechnology company focused on unlocking human potential using evidence-informed research and developing standardized psychoactive compounds derived from plants and fungi, is pleased to announce its initial seven natural health supplements. These seven products will be Havn Life’s first natural health products to launch in 2021. Each product has been thoughtfully formulated with adaptogens and antioxidants to aid in overall health and wellness and support human optimization.
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