Psychedelics are going mainstream. Not only is the US FDA supportive of research, dozens of medical studies are proving such treatments could be helpful, including Johns Hopkins Medicine and New York University.
Psilocybin has been found to help treat mental health issues, such as depression, anxiety, obsessive-compulsive disorder, PTSD, and possibly even eating disorders. LSD may be able to help patients with anxiety disorders and other medical issues. MDMA-assisted therapy could help treat eating disorders, including anorexia and binge eating. All have been major catalysts for related companies.
Now, a New Psychedelic ETF Could Give the Industry a Boost
Another key catalyst could be the upcoming Horizons Psychedelic Stock Index (ETF) that is expected to commence trading Jan. 27, 2021 under ticker PSYK on the NEO Exchange. That ETF will include Nova Mentis Life Science Corp. (CSE:NOVA)(OTCPK:LIBFF).
“NOVA is developing psilocybin and mushroom-based tryptamine derivatives for the treatment of autism spectrum disorder (ASD), an unmet medical need. We have started a preclinical study in a rat model of ASD and are planning to begin psilocybin treatment of the animals in February 2021. Submission of an IND to regulatory authorities and Phase 1 human safety studies are planned for later this year,” said Dr. Marvin S. Hausman MD, Chairman of NOVA’s Scientific Advisory Board.
“We are making important progress as we bring psychedelic research into the 21st century using current medical advancements in diagnosis, treatment, and development of objective biomarkers to confirm therapeutic responses.
Some of the other companies expected to list on the ETF include:
Mind Cure Health Inc. (CSE:MCUR)(OTC:MCURF) also announced its inclusion among 17 psychedelic companies in the first ever Psychedelic ETF . Horizon's Psychedelic ETF, is expected to commence trading Jan. 26, 2021 under ticker PSYK on the NEO exchange. The ETF includes companies in the Canadian legal psychedelics industry, as well as U.S. companies engaged in legal activities involving psychedelic drugs and substances. The purpose of the ETF is to "invest in, and indirectly derive revenues from, companies in the psychedelics industry engaged in legal activities involving psychedelic drugs and substances."
"We are honoured to be selected as part of the first ever Psychedelic ETF. This is a milestone moment for our industry and for MINDCURE, as we continue to explore, develop and commercialize products to give hope and healing to a world in pain and suffering from a mental health crisis. This solidifies our position amongst peers and gives investors a great opportunity to support our industry as a whole," said Kelsey Ramsden, President & CEO, MINDCURE. Mydecine Innovations Group Inc. (CSE:MYCO)(OTC:MYCOF), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, is pleased to announce that it has agreed to increase the size of its previously announced bought deal financing led by Canaccord Genuity Corp. Canaccord Genuity has agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 30,000,000 units of the Company (the "Units") at a price of C$0.50 per Unit for aggregate gross proceeds to the Company of C$15,000,000. Each Unit will be comprised of one common share in the capital of the Company and one Common Share purchase warrant. Each Warrant will be exercisable to acquire one Common Share a period of 36 months following the Closing Date at an exercise price of $0.70 per Warrant Share.
Entheon Biomedical Corp. (CSE:ENBI)(OTC:ENTBF), a biotechnology company focused on developing psychedelic medicines to treat addiction, announced a partnership with Divergence Neuro Technologies Inc., a company focused on the research and development of a data-driven, cloud-based neuro platform based on electroencephalogram analysis and machine learning, to research and develop N, N-Dimethyltryptamine biomarkers and a predictive model of biomarker responses to drug dosage and delivery of DMT-based psychedelic therapeutic products targeted to treat a number of different addiction and substance use disorders. Divergence will also develop a software platform that supports the tracking of EEG data during pre, intra, and post dosing using, among other prediction models, the DMT Biomarker Model. Entheon will utilize Divergence's expertise to consult on planning, research, and development of the DMT Biomarker Model and the Application to predict acute responses to DMT based on the analysis of EEG data. Divergence will lead the process of integrating EEG into Entheon's DMT-therapy platform with the ultimate goal of incorporating the technology for use by any clinics utilizing DMT products for the treatment of substance use disorders.
Seelos Therapeutics Inc. (NASDAQ:SEEL), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases announced dosing of the first patients in its registrational Proof of Concept study of SLS-002 (intranasal racemic ketamine) for Acute Suicidal Ideation and Behavior in patients with Major Depressive Disorder. "The dosing of the first patients in our study could not come at a more crucial time as there still remains a high unmet need for a therapy to address the symptoms of suicidality," said Raj Mehra Ph.D., Chairman and CEO of Seelos. "We will continue to train and add trial sites and look forward to sharing the open-label data from the first 16 patients once dosing, safety follow up, and data analysis have been completed."
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