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.
Field Trip Announces First Dosings in Phase I Clinical Study of FT-104
Dr. Nathan Bryson, Field Trip’s Chief Scientific Officer, commented, “The first administration of a novel, proprietary molecule is a landmark step for our Company and a key milestone in our progress to develop FT-104 as a therapeutic for depression. Already, we are planning to share our work and our vision on the development of FT-104 in treatment-resistant depression and postpartum depression with the FDA in order to obtain their guidance as we look toward Phase 2 studies in 2023.”
COMPASS Pathways Appoints Big Pharma CEO
George Goldsmith was a member of psychedelic medicine’s first class of founders, coming from a psychology and entrepreneurship background and helping guide Compass to the top tier of the industry. He’s now being replaced by Kabir Nath, former Senior Director at pharma giant Otsuka Pharmaceuticals.
Kabir Nath brings decades of experience in the healthcare industry, most recently serving as Senior Managing Director of global pharmaceuticals at Otsuka Pharmaceutical Co, prior to Otsuka, Kabir held various leadership positions at Bristol Myers Squibb.
Awakn’s Phase 3 Trial Approved for Government Funding
The National Institute for Health and Care Research (NIHR), a UK government agency, has approved grant funding for 66% of the costs of Awakn’s Phase III clinical trial exploring the use of ketamine-assisted therapy for the treatment of AUD. The trial is currently forecast to cost approximately CA$3.75 million in total, with Awakn funding approximately CA$1.25 million of that.
“Awakn will partner with the University of Exeter (UoE) and the UK’s National Health Service (NHS) to deliver the landmark trial. It is planned to be conducted across seven sites in the UK, with the treatment being administered within the NHS infrastructure.”
Mydecine Files Patent Application For Short-Acting MDMA
Mydecine announced it has successfully synthesized multiple short-acting MDMA analogs. This family of analogs have been specifically designed by experts at Mydecine to have a shorter half life than traditional MDMA. The Company has named this family of novel molecules MYCO-006 and have applied for patent coverage with the World Intellectual Property Organization.
Mydecine is targeting a 1-2 hour duration novel MDMA analog that will produce the same effects as traditional MDMA.
Delic 2021 Revenue Shows Strong Growth as Nation’s Largest Ketamine Clinic Chain, Continues Expansion of Mental Health Wellness Services
Delic Holdings (CSE: DELC) (FRA: 6X0), owner of Ketamine Wellness Centers (KWC), has released the following corporate update:
- Delic Corp released its first annual end-of-year earnings report in May. In 2021 the Company generated more than USD$1.5MM in revenue and increased net assets to USD$10MM in 2021 from USD$2.1MM in 2020, a 500% YoY improvement.
- Ketamine Wellness Centers (KWC) currently has 13 operational, state-of-the-art clinics that accept insurance and they are approaching 100,000 treatments to clinically eligible patients.
- On April 1, KWC officially began offering SPRAVATO®, the FDA-approved esketamine nasal spray covered by some insurance, at its Houston, Las Vegas and Seattle locations and quickly expanded to include the Minneapolis, Salt Lake City and Dallas clinics with more on the way.