Welcome to the News You Might Have Missed, a weekly roundup of psychedelic medicine headlines 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.
PharmaTher Announces Positive Results from Study For Ketamine Microneedle Patch
PharmaTher has successfully delivered ketamine and KETABET™ (ketamine and betaine) via their proprietary microneedle patch. The company has completed its research study evaluating its patented hydrogel-forming microneedle patch, PHARMAPATCH™, to deliver ketamine and KETABET™ which aims to prevent the potential side effects of repeated ketamine treatment for depression and other indications, including suicidal ideation, substance abuse, post-traumatic stress disorder, neurological disorders, and chronic pain.
The Company is preparing for a planned Phase 2 clinical study of treatment-resistant depression and chronic pain under the FDA 505(b)(2) regulatory pathway.
Filament Health Announces Capital Raise of $2,500,000.
Financing driven by psychedelic investment fund Negev Capital and leading functional mushroom manufacturer Nammex.
“Negev Capital is excited to support Filament Health, among the most compelling early-stage companies in the psychedelic space,” said Ken Belotsky, Partner at Negev Capital. “We are especially impressed with Filament’s creative, energetic, and strategic management team, strong IP, manufacturing and extraction expertise, and impressive partnerships. We are delighted to support their drug development strategy as they thoughtfully develop psychedelic treatments that can positively impact millions of lives.”
Red Light Holland Signs Deal w Wiz Khalifa to Launch Mushroom Brand
From CEO and Director of Red Light Holland, Todd Shapiro. “We are very excited to partner with Wiz to launch MISTERCAP Magic Truffles in the Netherlands. Together we will monitor future potential markets, if and when regulations legally permit, to expand the availability of the MISTERCAP psychedelic products line-up. Additionally, we are excited to launch MISTERCAP Home Grow natural mushroom kits in the United States, Europe and Canada by the end of fiscal 2022 and we will continue to work towards producing additional functional mushroom products jointly under the MISTERCAP brand.”
Field Trip Health Reports Full Year 2022 Financial Results and Provides Business Update Including Corporate Reorganization
Some highlights from Field Trips’s 2022 financial results and business highlights:
- Announced intention to separate the Field Trip Discovery and Field Trip Health divisions into two independent public companies.
- Earned patient services revenues of $1.7 million in fiscal fourth quarter, an increase of 26.7% over the prior quarter and 228% year over year. Full year patient services revenue was $4.9 million, up from $0.96 million in the same period of the prior year.
- At March 31, 2022, Field Trip had approximately $63.7 million in unrestricted cash and cash equivalents.
- On April 5, 2022, granted U.S Patent for the first novel psychedelic molecule in development, molecule FT-104.
- In May, 2022, launched Field Trip at Home Powered by Nue Life, an advanced wellness platform for personalized, at-home psychedelic care.
Awakn Life Sciences Receives UK State Funding to Identify Optimal Pathway to Market in UK & US for Its Ketamine-Assisted Therapy for Alcohol Use Disorder
Anthony Tennyson Awakn’s CEO added: “Securing these funds from Innovate UK is a major endorsement of our efforts and approach to developing new and effective treatments for addictions. Our Lead program has all the right components to make a lasting difference for the very significant number of people who are suffering from AUD.
Awakn’s Chief Scientific Officer, Shaun McNulty commented: “Our Phase II a/b ‘KARE’ study, led by Professor Celia Morgan, showed that ketamine-assisted therapy has the potential to revolutionize the treatment of AUD. This funding enables Awakn, working closely with Veristat, to bring a much-needed effective treatment approach to the market as soon as possible.”
