Welcome to the News You Might Have Missed, a weekly roundup of news items to help you catch up and stay informed.
It was a busy week with lots of news, have a look and see you next week for another update.
Mydecine Files Full Patent Application Covering Multiple Families of Psilocin Analogs
The company announced it has filed a full patent application covering multiple families of psilocin analogs. The application includes solutions to directly address further precision in delivery control and shelf stabilization of psilocin, psilocybin’s active metabolite, both of which are critical for use in the medical setting.
Numinus Wellness Inc. Reports Q4 and Year End 2021 Results
- Ended the year with strong cash position of $59.2 million
- Revenues grew 81% year-over-year to $0.5 million for Q4 2021
- Revenues grew 72% year-over-year to $1.5 million for FY 2021
- Gross profit of $31,818 for Q4 2021
- Completed the acquisition of the Neurology Centre of Toronto in September 2021
- Two clinical trials about to launch: Phase 1 study for proprietary psilocybe extract and Phase 3 open label extension study partnership with MAPS for MDMA for PTSD
- Recently received conditional approval to graduate to the TSX (from the TSX Venture)
Wesana Completes Filing of PCT Patents for Novel Drug Protocols
Wesana has filed Patent Cooperation Treaty (“PCT”) patent applications towards securing the exclusive rights to protocols, delivery methods and compositions of matter which includes utilizing a high loading dose of psilocybin-assisted psychotherapy, coupled with non-hallucinogenic, low maintenance doses of psilocybin with and without other evidence-based therapies (plant medicines, fungi and adaptogens) to treat neurological based conditions.
MindMed Engages in Productive Pre-Submission Meeting with FDA for Development of the MindMed Session Monitoring System
Daniel R Karlin, MD MA, Chief Medical Officer of MindMed. “The FDA is supportive of our plans to develop regulated devices that would allow the use of novel analyses of multimodal data to capture, model, and map outputs that, if cleared, could be useful to clinicians and patients in the delivery of psychedelic and other perception-altering substances.”
Mydecine Secures Financing and Provides Company Update
Mydecine announced it has entered into an agreement with an investor to complete a non-brokered private placement of a convertible secured subordinated debenture in the principal amount of C$5.5 million. The Financing is expected to close on December 10, 2021.
Algernon Pharmaceuticals Completes Manufacturing of Psychedelic Drug DMT Appoints UK Stroke Experts for Phase 2
The company announced that it has completed the manufacturing of its clinical grade supply (“cGMP”) of AP-188 (“N,N-Dimethyltryptamine or DMT”) at Canadian manufacturer Dalton Pharma Services. The Company believes it has produced a sufficient supply of cGMP DMT to complete its planned Phase 1 and Phase 2 clinical trials.
Cybin Confirms Scientific Advice Meeting with UK Medical and Healthcare Products Regulatory Agency for Lead Candidate CYB003 for the Treatment of Major Depressive Disorder and Alcohol Use Disorder
“Encouraged by positive preclinical findings that demonstrated the advantages of our novel deuterated psilocybin analog over oral psilocybin for the treatment of mental health, we are moving rapidly to progress CYB003 toward clinical development. We are looking forward to engaging with the MHRA to determine next steps for our clinical development path evaluating CYB003 for the treatment of MDD and AUD in the UK,” said Doug Drysdale, Chief Executive Officer of Cybin.