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Psychedelic Business and Investment News: August 2-6

Psychedelic Business and Investment News: August 2-6

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Truffle Report has compiled a roundup of major psychedelic business and investment news from August 2-6, making it easier for you to access these insights in one place.

Cybin Inc.

On August 5th, common shares of Cybin Inc. began trading on the NYSE American LLC stock exchange under the symbol CYBN.  

In addition to listing and trading on the NYSE American in U.S. dollars, Cybin’s common shares continue to be listed and traded in Canada on the NEO Exchange in Canadian dollars under the symbol “CYBN”.

MindMed Inc.

On August 3rd, announced that it will participate in and financially support the Digital Medicine Society’s Digital Health Measurement Collaborative Community, an effort to develop best practices and streamline the medical field’s approaches to measuring health using digital technologies.

DATAcc comprises leaders from across the US government, non-profit, and private sectors, including the US Food and Drug Administration, the US Department of Health and Human Services, healthcare systems, medical technology companies, patient advocates, biopharma, and policy organizations. The collaborative will use interdisciplinary expertise, data, and cases to address complex medical device challenges.

Havn Life Sciences Inc.

On August 3rd, HAVN Life Sciences Inc. announced the harvest of its first crop of psilocybin-containing mushrooms from their growing and production facility in Jamaica.

Working with its partner, GMP manufacturer P.A. Benjamin in Kingston, the Havn Life will export the harvested psilocybin to Canada where it will be tested for safety and quality control through its lab partner, Delic Labs.

“This is the moment we have been tirelessly working towards,” says HAVN Life CEO, Tim Moore. “We’ve been aggressively meeting the targets in our strategic roadmap and having this last piece in place with DELIC Labs will enable HAVN Life to become the first and top choice for product supply globally,“ he adds.

Filament Health Corp.

On August 3rd, Filament Health Corp. announced that it is the first public company to be issued a patent by the Canadian Intellectual Property Office for the extraction and standardization of natural psilocybin and associated psychoactive compounds. The patent describes essential technology for transforming variable psychedelic raw materials into pharmaceutical-grade standardized extracts.

This successful issuance validates Filament’s intellectual property strategy and sets it in good stead for allowances of pending patents covering additional elements of its proprietary technologies.

See Also
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Psygen Industries Ltd.

On August 5th, Psygen Industries Ltd. announced that it has closed its previously announced non-brokered private placement financing of unsecured convertible debentures for gross proceeds of $5.5 million. The Debentures incur interest of 8.0% per annum. The proceeds will allow Psygen to hire key employees and complete their 17,000 square foot facility, which is anticipated to be the first GMP compliant manufacturing facility dedicated to synthetic production of psychedelics when construction is completed in Q3, 2021.

PsyBio Therapeutics Inc.

On August 4th, PsyBio Therapeutics Corp.  initiated a new program to study N-methyl-D-aspartate, or NMDA, receptor antagonists and associated analogs for potential activity against a variety of human health conditions.

The Company has filed a new provisional patent application with the United States Patent and Trademark Office entitled NMDA Receptor Antagonist-Containing Compositions and Methods of Treatment. The addition of NMDA receptor antagonists with pending patent protection is highly focused on the potential improvement of neurological conditions including traumatic brain injury, other neurological deficits, addiction as well as other psychological conditions.

Silo Wellness Inc.

On August 5th,  Silo Wellness Inc. announced a distribution partnership with Essex-based U.K. brand distributor LocoSoco Group Plc pursuant to a distribution agreement dated August 4, 2021. The Distribution Agreement stipulates LocoSoco as the exclusive U.K. distributor for Silo Wellness’ full portfolio of Marley One branded mushroom products.

This partnership announcement comes on the heels of Silo Wellness’ launch of Marley One, the first global functional and psychedelic mushroom consumer brand, created in collaboration with the family of legendary musician Bob Marley. The Distribution Agreement cements a solid route to market for Marley One products that can keep pace with consumer demand across the region. Silo Wellness is also the first global psychedelics company to access the nationwide network of a large-scale distributor to reach consumers across the U.K. at mainstream retail stores.

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