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.
Cybin Announces Positive Data on CYB004 DMT
“As part of Cybin’s overall mission to create safe and effective psychedelic-based therapeutics, inhaled CYB004 is being developed to potentially overcome the limitations of IV DMT and become an important treatment option for anxiety disorders for patients and physicians,” said Doug Drysdale, Chief Executive Officer of Cybin.
FILAMENT HEALTH IS ISSUED PATENT BY UNITED STATES PATENT AND TRADEMARK OFFICE
“The issuance of Filament’s first US patent is a testament to the strength of our drug development platform,” said Benjamin Lightburn, Chief Executive Officer. “This approval represents important progress for our intellectual property portfolio.”
Filament has developed innovative technology to extract and standardize stable doses of natural compounds from magic mushrooms. Previous methods of natural extraction have experienced challenges relating to low yields, instability, and a lack of repeatability.
Universal Ibogaine Lists on the Frankfurt Stock Exchange
The company’s common shares have been approved for trading on the Frankfurt Stock Exchange, or Bourse Frankfurt (the “FSE”) under the ticker symbol “JC4”. UI will continue to trade in Canada on the TSX Venture Exchange under its current ticker symbol IBO and on the OTCQB under the ticker symbol IBOGF.
PharmaTher Signs Exclusive Worldwide License Agreement for Patented Formulation and Production Process of Ketamine and Ketamine Analogs
PharmaTher has entered into an exclusive worldwide license agreement with Gesval S.A. for the development and commercialization of a patented process technology for the preparation of ketamine and ketamine analogs. The Ketamine Technology strengthens PharmaTher’s patent portfolio of ketamine and will complement the company’s expanding ketamine pharmaceutical pipeline for use in hospitals, clinics and homes.
Red Light Holland to Purchase 100 Acres of Farmland in Ontario, Canada as Its Mushroom Farms Division Expands in North America
Purchase of 100 acres farmland for $1.85 Million, in Ontario, Canada to close in June 2022. Through experienced partners, Red Light’s Farm Division plan on growing mushroom production with projected additional 65,000 sq feet of Mushroom production facilities.
Numinus Wellness Inc. Reports Q2 2022 Results
Highlights include from Numinus Q2 results include:
- Revenues grew 240% year-over-year to $0.8 million for the quarter
- Achieved 29.1% gross margin during Q2 2022, compared to 6.5% in Q1 2022, due to a larger proportion of higher-margin services being provided across wellness clinics
- Generated gross profit of $228,759 during Q2 2022, a 349% increase from prior quarter
- Recently announced proposed acquisition of Novamind expected to grow annual revenues more than five times from current levels; positions Numinus as a leading, integrated mental healthcare company providing psychedelic-assisted therapies
- Ended quarter with strong cash position of $48.3 million
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