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.
MindMed Doses First Patients in Phase 1 MDMA Trial
MindMed announced the first patient has been dosed in a Phase 1 investigator-initiated study led by MindMed collaborator Prof. Dr. Matthias Liechti at University Hospital Basel (UHB). The study aims to evaluate the effects of MDMA-like substances, versus a placebo in healthy volunteers.
Dr. Miri Halperin Wernli, Executive President of MindMed, added, “Through our collaboration with the Leichti Lab at UHB, we have exclusive rights to the data from this study which will enhance our understanding of the therapeutic properties involved in the induction of positive mood in a way that may help optimize the treatment model for our R(-)-MDMA drug candidate.”
HAVN Life Shutting Down?
Unfortunate news for investors in HAVN Life Sciences as it seems the company may be closing down its operations. The vaguely-worded statement says the company is “unable to meet its financial obligations as they come due.”
A restructuring plan is being put together by the Board, and the Company is actively pursuing financing. There is no assurance that the restructuring will be successful or that the Company will be able to secure a new source of financing.
Small Pharma Completes Enrollment in Phase IIa DMT Trial
George Tziras, Chief Executive Officer: “We are delighted to hit this critical milestone in our clinical development program. With the last patient now enrolled, we eagerly await analysis of the study results, which will help to inform our plans to move forward into a larger international multi-site Phase IIb trial, and bring us one step closer to delivering potential novel therapies to those suffering with depression.”
Mydecine Announces Closing Under Share Subscription Agreement And Welcomes New CFO
Mydecine appears to be attempting to re-structure and keep investors’ hopes alive. The company has closed the second tranche of the first issuance under the Subscription Agreement, with the issuance of 877,193 common shares at a price of $0.57 per Share for aggregate gross proceeds of $500,000.
And after a dramatic board resignation, Mydecine has announced a new CFO, welcoming John Ross to their team.
“In biotech, the ability to access capital in all forms is very important. One promising avenue right now is partnerships,” said Chief Executive Officer Josh Bartch. “We want both parties to realize the ultimate value of the partnership and products being developed.”
Clearmind Applies for Patent to Treat Obesity and Metabolic Syndrome
The patent application is another result of the company’s ongoing collaboration with SciSparc Ltd.(NASDAQ: SPRC) (“SciSparc”), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, and with the Hebrew University of Jerusalem.
The patent application is the third application resulting from the collaboration with SciSparc, referring to the proprietary combination of Clearmind’s MEAI, a novel proprietary psychedelic treatment for various addictions, and SciSparc’s Palmitoylethanolamide (PEA), the active ingredient of its proprietary CannAmide™, which is used for treating obesity and its related metabolic disorders.
“In pre-clinical studies MEAI has shown great potential in its ability to treat different addictions. Certain metabolic syndromes can be associated to addictive behaviors, and we believe combining MEAI with SciSparc’s CannAmide™ may create a valuable tool for treating these conditions.”
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