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The psychedelics legislative landscape continues to move forward with Hazel Park, Michigan enacting decriminalization measures for naturally-produced psychedelic molecules, becoming the third city in the state to do so after Ann Arbor and Detroit.
In Utah, Governor Cox signed a psychedelics research bill into law and positive legislation around psilocybin is continuing to advance in Hawaii.
The for-profit psychedelics sector also pushes forward. MindMed (NASDAQ:MNMD) reported its yearly financials with a cash balance north of $130 million.
Meanwhile, cannabis company Real Brands (OTCQB: RLBD) announced its intention to enter the psychedelics space.
Along with the psychedelic renaissance came a new type of drug: second-generation psychedelics. Developed from classic psychedelics molecules, these upgraded compounds could offer improved therapeutic profiles with reduced side effects. For some companies in the psychedelics space, second-generation psychedelics could be the key to success in an increasingly competitive market. Check out the 5 companies…
In Hawaii, a senator committee approved two identical measures to form a psilocybin working group. The goal of the group would be to explore the therapeutic potential of the psychedelic, but the resolutions were amended and patient access will be contingent on federal approval of psilocybin. Read the full story…
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED) reported its financial results for the full year ended December 31, 2021. Read the full story…
COMPASS Pathways plc (NASDAQ: CMPS) has announced the formation of a long-term partnership with the South London and Maudsley NHS Foundation Trust (SLaM) and the Institute of Psychiatry, Psychology & Neuroscience at King’s College London. The aim of this collaboration is to launch The Centre for Mental Health Research and Innovation, whose goals will be to research emerging psychedelic therapies. Read the full story…
PharmaTher Holdings Ltd. (OTCQB: PHRRF) announced positive results from a clinical study of ketamine for the treatment of levodopa-induced dyskinesia (LID) in patients with Parkinson’s disease. The study, called KET-LID, evaluated the safety, tolerability and efficacy of low-dose ketamine infusion for the treatment of LID in patients with Parkinson’s disease. Read the full story…
Adastra Holdings Ltd. (OTCPK: XTXXF) (CSE:XTRX) (FRA: D2EP) recently completed the submission of its application for a controlled drugs and substances dealer's license. Adastra has successfully taken the first steps to become a licensed tester, extractor and seller of controlled substances, including Psilocybin, Psilocin, MDMA, DMT, 5-MeO-DMT, and LSD. Read the full story…
Gov. Spencer Cox (R), Utah, signed a bill to create a task force to study the possible therapeutic uses of psychedelic drugs, as well as possible legislation for their use. Read the full story…
Pennsylvania legislation poised to promote research into the therapeutic potential of psilocybin mushrooms for certain mental health conditions is facing some challenges as a key House committee continues to express reservations even though the bill was previously amended. Read the full story…
With the support of Decriminalize Nature Hazel Park and efforts by Councilmember Luke Londo, Hazel Park has moved to decriminalize psychedelics like psilocybin and ibogaine. The decision comes at a time when activists continue to pursue a broader statewide policy change to legalize psychedelic substances through votes. Read the full story…
Real Brands Inc. (OTCQB: RLBD) will become a premier provider of medical psychedelics. As Phase 1 of laying the groundwork, Real Brands has entered a partnership with consulting firm Marcu & Arora to apply for DEA licensure for psychedelics, including defining the protocols for application and focus of the formulation research and development and for authorization to process and handle psychedelic substances. It has applied directly to the state of Rhode Island to be able to prescribe, dispense, store and ship controlled substances. Read the full story…
Novamind Inc. (OTCQB: NVMDF) has announced that it will offer a model of psychedelic-assisted group therapy. Under the name Groups by Novamind, the therapy model will offer psychedelic integration and in-person group psychedelic-assisted psychotherapy for four to ten individuals delivered as drop-in sessions or multi-week curricula. Read the full story…
NeonMind Biosciences Inc. (OTCQB:NMDBF) (CSE:NEON) (FRA:6UF) has filed a new patent application with the U.S. Patent and Trademark Office related to a novel mechanism of weight loss targeted to specific fat subtypes. Read the full story…
PSYC Corporation (OTCP: PSYC), formerly known as Global Trac Solutions, Inc. and a company behind the psychedelic news and information platform Psychedelic Spotlight, reported its 2020 financials on Tuesday. The Lake Oswego, Oregon-based company reported a net loss of roughly $4.4 million in fiscal 2020, representing an increase of nearly 16%. Read the full story…
