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.
Silo Pharma Uplists to the NASDAQ
In surprising industry news, Silo Pharma has uplisted to the NASDAQ. Silo Pharma on the NASDAQ? Yup, you read it right. Previously listed on the OTC under the symbol SILOD, Silo performed a 1-for-50 Reverse Stock Split in Preparation for Planned Uplisting to Nasdaq.
Silo Pharma is a development-stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as PTSD, Alzheimer’s, and other rare neurological disorders. Making the jump from OTC to the NASDAQ is a big move, especially since Silo OTC shares were trading in the $0.10 range before the reverse split.
Cybin Buys License to Mindset Pharma’s Psychedelic Compounds
“This exclusive license bolsters the breadth of Cybin’s IP holdings while adding a significant number of compounds to our growing library of psychedelic derivative drug development candidates,” said Doug Drysdale, Cybin’s Chief Executive Officer.
“In addition to the value created from progressing our clinical stage programs for CYB003 and CYB004, our discovery and development engine will continue to be an asset for the Company as we leverage strategic M&A opportunities, including this one, to strengthen our competitive advantage and support our goal of developing new and innovative psychedelic treatments for mental health conditions and other areas of high unmet need. We are pleased to work with Mindset who, like Cybin, has a deep-rooted understanding of psychedelic science.”
PharmaTher Provides Year-End Highlights and Financials
Fabio Chianelli, Chief Executive Officer of PharmaTher, said, “We had achieved important clinical and business milestones that will pave the way for PharmaTher to potentially become a commercial-stage company in 2023. With a little over $12 million in cash and investment on our balance sheet, we are in a strong position to advance our ketamine-based clinical development and commercial programs to treat mental health, neurological and pain disorders. To support our commercial objectives, we aim to file abbreviated new drug applications with the FDA for our ketamine injectable products for anesthesia and procedural sedation. We expect to obtain FDA approvals by 2H-2023.”
Nova Mentis Psilocybin Microdose Capsule Formulation to be Submitted in Health Canada Phase 2A Clinical Trial Application
“NOVA has accomplished a major breakthrough in its autism spectrum disorder (ASD) clinical research program with the production of GMP grade psilocybin microdose capsules,” stated Jacqueline McConnell, NOVA’s Chief Operating Officer. “NOVA is also excited to initiate the availability of the 1.5 mg psilocybin capsules to doctors, clinics and pharmaceutical companies in Canada for its potential therapeutic use in non-ASD clinical trials, including but not limited to diabetes, heart disease, epileptic conditions and post-traumatic stress disorder (PTSD). NOVA and KGK Science Inc. (KGK) are available to assist in the creation and submission of future clinical trial applications to Health Canada for review.”
Mindbio Announces Phase 2A/B Clinical Trials Microdosing LSD in Major Depressive Disorder Submitted for Ethics & Regulatory Approval
The submission for ethics approval for Phase 2A/B clinical trials microdosing LSD in patients with Major Depressive Disorder comes after the successful April 2022 completion of Phase 1 clinical trials microdosing LSD in 80 healthy participants and NZ$1.44 million funding granted from the Health Research Council of New Zealand for the Phase 2 trials. Safety data from Phase 1 Trials will be presented at #WonderlandMiami convention, the world’s biggest psychedelics event on 4 November 2022.
