The medical community is quickly growing to both realize and accept the potential of psychedelic therapies for the successful treatment of physical trauma.
The results of one study are being closely watched as early indications saw tremendous potential for physical and mental trauma that was resistant to more conventional treatments.
This study is being conducted by Dr. Nolan Williams, a Stanford University researcher, and is funded by Veterans Exploring Treatment Solutions (VETS).
The study was launched because Marcus Capone, a Navy SEAL veteran of 13 years, was diagnosed with depression, alcoholism, and PTSD, and other mental healthcare conditions after completing his service.
Capone was prescribed antidepressants, mood stabilizers, sleeping pills, and wakefulness pills as a treatment for these conditions with little effectiveness so he turned to ibogaine, a common psychedelic compound, to help treat these unique mental health conditions.
Capone considered the psychedelics-based treatment as a major success compared to the conventional medical treatments he was prescribed before trying ibogaine.
He founded VETS to advance research for these treatments and the VETS organization is funding Dr. Williams’ observational study of ibogaine-assisted therapy in veterans with head trauma and combat exposure.
Dr. Williams said about the study, “We have been hearing stories from veterans who have returned from ibogaine treatment and have been amazed at their reported improvement. Prior research has shown that ibogaine could play a role in enhancing neuroplasticity, and we’re eager to measure whether those changes in brain circuitry are associated with its reported therapeutic effects.”
This is just one study of many underway or about to be commence which are aimed at the healing potential of psychedelics.
Many companies are ramping up research on the therapeutic potential of psychedelics too.
Recently Mind Cure Health (CSE:MCUR) (OTC:MCURF), Mind Medicine (NEO:MMED)(OTC:MMEDF), Numinus Wellness (TSXV:NUMI) (OTC:LKYSF), Field Trip Health (CSE:FTRP) (OTC:FTRPF), and Cybin Inc. (NEO:CYBN) (OTC:CLXPF) have announced new and continued studies on different psychedelic-based treatments for a number of mental health care conditions including trauma.
One of the latest and highest-profile study announcements comes from Mind Cure Health (CSE:MCUR) (OTC:MCURF).
Mind Cure is a neuroscience and full-spectrum psychedelics company which has amassed a team of experts in psychedelic therapeutics and is currently deploying its capital to research multiple psychedelic therapeutics.
Mind Cure recently announced that it has named Dr. Dan Engle as Principal Investigator for research in traumatic brain injury with psychedelics.
In this position, Dr. Engle will develop and oversee Mind Cure’s research into recognized psychedelic compounds and discovering and proving their medical potential.
Dr. Engle is a world-renowned physician in both psychiatry and neurology and is one of the most prominent psychedelic researchers in the world. He is currently the Medical Director at the Kuya Institute for Transformational Medicine and he also joined Mind Cure’s Scientific Advisory Board in October of 2020.
Mind Cure has identified traumatic brain injury (TBI) as a priority indication which shares important biological pathwaysiii associated to painiv.
Kelsey Ramsden, Mind Cure’s President and CEO, said of this development, ““Mind Cure is fortunate that Dr. Engle has chosen to bring his expertise and clinical experience with trauma and head injury to lead Mind Cure’s research efforts. Dr. Engle is a trusted resource whose guidance will be pivotal in leading this transformative research program. TBI issues not only affect individuals but also can have lasting effects on families and communities”.
The psychedelics sector has attracted hundreds of millions of new investment capital over the last few months and the companies receiving are already deploying it.
Here are some additional developments from some of the leading companies in the emerging psychedelics sector:
Mind Cure Health (CSE:MCUR) (OTC:MCURF):
Mind Cure health is a health and wellness company focused on the many aspects of the rapidly growing medicinal psychedelics sector.
The company seeks to identify and develop products that ease suffering, increase productivity, and enhance mental health through products and therapies based in the psychedelics.
Since its initial public offering (IPO) in September 2020, Mind Cure Health has been steadily advancing its business.
The company has demonstrated its aggressive growth strategy with many recent advances.
In addition to the appointment of Dr. Engle featured above, Mind Cure completed a major financing deal.
Mind Cure announced a C$10 million public offering on January 21st.
In a sign of strong investor demand, within 24 hours of the initial financing announcement Mind Cure stated it would be increasing the financing to C$20 million due to overwhelming investor demand.
By the time the financing closed, the total new capital for Mind Cure was a gross of C$23 million.
The new capital is intended for the advanced of Mind Cure’s leading research projects and product development in psychedelic therapeutics.
Mind Medicine (NEO:MMED)(OTC:MMEDF)
Mind Medicine has emerged as a leader in the psychedelic biotech sector.
According to the company, it “Discovers, develops and deploys psychedelic inspired medicines and experiential therapies to address addiction and mental illness.”
Mind Medicine is researching potential therapies using Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC for conditions of Anxiety, Addition, and Adult ADHD.
The company recently announced it had formally completed the pre-IND (Investigational New Drug) meeting with the U.S. Food and Drug Administration (FDA).
Also, Mind Medicine recently formed a new partnership with Swiss start-up MindShift Compounds AG to develop and patent next-generation psychedelic compounds with psychedelic or empathogenic properties.
Finally, the company continued its expansion into clinical research on psychedelics. It has started the first-ever clinical trial measuring and evaluating MDMA and LSD used in combination in the human body. The trial will be conducted at the University Hospital Basel Liechti Lab in Basel, Switzerland.
Numinus Wellness (TSXV:NUMI) (OTC:LKYSF):
Numinus is a company that develops and deploys psychedelic therapies.
It is the first company in Canada to receive a license to extract psilocybin from mushrooms, to complete a legal harvest of psilocybe mushrooms using this licence, and the holder of a Health Canada dealer's licence to import, export, possess, test, and distribute MDMA, psilocybin, psilocin, DMT, and mescaline.
Numinus states on its web site that it foresees, “Safe, legal access is going to become increasingly available for a range of conditions, including depression, PTSD & substance use disorders.”
The company announced at the end of 2020 a collaboration with the Multidisciplinary Association for Psychedelic Studies (MAPS) Public Benefit Corporation to seek approval of MDMA-assisted psychotherapy for PTSD.
MAPS is a leading advocate for medicinal use of psychedelics. Since its founding in 1986 it has sought to design and fund studies covering medical applications of psychedelic substances. It recently raised more $30 million to continue its mission.
Numinus continued its expansion into 2021.
The company announced in January it had signed a lab services agreement with Optimi Health Corp., developer of a vertically integrated functional mushroom brand focused on the health and wellness sector, to further the research and development of Canadian-grown psilocybin-producing mushrooms.
In February of 2021 Numinus announced it will be acquiring Mindspace Wellbeing. Numinus described Mindspace Wellbeeing as a Montreal-based well-being organization which grew from a state-of-the-art psychology clinic with a focus on evidence-based approaches to mental health.
Field Trip Health (CSE:FTRP) (OTC:FTRPF):
Field Trip Health describes itself as “leading the medical and scientific re-emergence of psychedelics and psychedelic-enhanced therapies.”
It is developing its proprietary drug candidate FT-104, a novel, synthetic psychedelic molecule that is a serotonin 5HT2A receptor agonist.
It operates a number of clinical hubs for psychedelic therapies and is steadily adding more.
In the last two weeks the company has announced the opening of a research and development laboratory for psychedelic fungi in Mona, Jamaica and another clinical health center in Atlanta, Georgia.
Cybin Inc. (NEO:CYBN) (OTC:CLXPF):
Cybin is a life-sciences company focused on advancing psychedelic and nutraceutical-based products.
It is also directly supporting clinical studies across North America and other regions through strategic academic and institutional partnerships.
Cybin’s latest big move came from a financing deal.
On January 18, Cybin each financing for C$20 million.
Each unit in the financing will be priced at C$2.25 and contain one share and one half warrant exercisable at C$3.25 per share.
As an indicator of demand, within three weeks of announcing the financing, it closed with more than $34.3-million bought deal.
Cybin has planned a public call with investors on February 17 to update them with next steps.
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