Truffle Report has compiled a roundup of major psychedelic business and investment news from July 19-23 making it easier for you to access these insights in one place.
Field Trip Health Ltd.
On July 23, Field Trip Health Ltd. announced that it has received conditional approval from The NASDAQ Stock Market to list its issued and outstanding common shares on the NASDAQ Global Select Market. Final approval of the listing is subject to the company fulfilling any remaining conditions as required by NASDAQ. The company expects to satisfy all of the requirements and will issue a statement once a trading date has been confirmed by NASDAQ. The company’s common stock will continue to trade in Canada on the TSX Exchange under its current symbol FTRP; and until the NASDAQ listing, in the U.S. on the OTCQX under its current symbol, FTRPF. Concurrent with the listing of Field Trip’s common shares on NASDAQ, they will cease to be quoted on the OTCQX.
On July 21st, Cybin Inc. announced that it has received conditional listing approval from the NYSE American LLC stock exchange.
Doug Drysdale, Cybin’s CEO, added, “Conditional listing approval on the NYSE American is an important milestone in Cybin’s growth journey. We expect expanded access to investors to further fuel our mission to develop revolutionary psychedelic therapeutics for patients suffering from mental health conditions.”
On July 21, Mydecine Innovations Group announced that the company has filed a new patent for MDMA-like compounds further expanding its robust portfolio of novel compounds.
“At Mydecine, we are excited to expand our drug development program to include the improvement of entactogenic compounds,” said Rob Roscow, Chief Scientific Officer. “The groundbreaking progress that we’ve seen from the Multidisciplinary Association for Psychedelic Studies (MAPS) in its Phase 3 clinical trials of MDMA-assisted psychotherapy for Post-Traumatic Stress Disorder (PTSD), including receiving Breakthrough Therapy Designation from the Food and Drug Administration (FDA), shows great promise to date. It is our belief that the tailoring of the properties of these compounds will vastly improve their utility to medicine and therapy. This filing is part of our continued efforts to grow our robust IP portfolio as we consistently file for new patents that offer high potential to expand psychedelics for medical use.”
NeonMind Biosciences Inc.
On July 21, NeonMind Biosciences Inc. announced its R&D Working Group has completed an integrated drug development plan for its lead drug candidate targeting obesity, NEO-001, a high-dose psilocybin treatment coupled with behavior therapy and lifestyle intervention, which aims to improve the efficacy of chronic weight management in adults. The company has identified a regulatory strategy, including a target indication and product profile that it believes will best position NeonMind as it advances its first lead candidate through development.
Psyched Wellness Ltd.
On July 22, Psyched Wellness Ltd. announced that the company has completed its largest extraction of AME-1 to date, and has successfully shipped it to the company’s contract research organization partner labs in Asia, in order to complete the pre-clinical studies and other scientific work of the company in its product development process.
In accordance with the company’s extraction protocol, approximately 20 kilograms of raw material was used to generate approximately 4.2 kilograms of AME-1. This shipment to our CRO partner lab in Asia represents the most significant amount of AME-1 extraction to date.
Pharmather Holdings Ltd.
On July 21, PharmaTher Holdings Ltd. announced that it has filed a provisional patent application with the U.S. Patent and Trademark Office outlining a novel formulation of ketamine for intradermal administration as potential treatments for mental health, neurological and pain disorders. The company’s intellectual property portfolio includes 19 granted patent and patent applications filed in over 150 countries.
Small Pharma Inc.
On July 21, Small Pharma Inc. announced the launch of a training program to educate psychologists on the process required for the support and completion of Small Pharma’s DMT-assisted therapy clinical trials.
On July 21, Tryp Therapeutics announced its plans to conduct a Phase 2a clinical trial with the Chronic Pain & Fatigue Research Center in the Department of Anesthesiology at the University of Michigan Medical School.
Red Light Holland Corp.
On July 19, Red Light Holland Corp. announced that Bruce Linton has confirmed that he will join The HighBrid Lab as Chairman of the Board, conditional upon shareholder approval and the closing of the merger between Red Light Holland and Creso Pharma Limited.
On July 21, – Red Light Holland Corp. announced that the company has filed a new patent for technologies for monitoring and displaying information involving carbon dioxide emissions, designed to influence and motivate positive behavior relating thereto, and devices adapted for use thereof.
Red Light Holland’s interactive Wisdom Truffle will now provide users with real-time data informing users how much carbon dioxide is being emitted by their local electricity grid, along with tips and suggestions on how users may reduce their carbon footprint.
James Stephen is a content contributor at Truffle Report. He studied Politics and International Development at Trent University and completed his Postgraduate Certificate in Book, Magazine, and Electronic Publishing at Centennial College. He has previously worked as a chef, and in his spare time is an author and freelance writer.