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The current clinical scenario sets psilocybin as one of the most advanced psychedelics, expected to become legally approved in the US sometime between the 2023-2024 period and to become available as of January 2023 within local assisted therapy in Oregon.
Now PsyBio Therapeutics Corp. (OTCQB:PSYBF), a psychedelics R&D biotech company focused on both naturally and non-naturally occurring precursors and analogs of psychoactive compounds is partnering with clinical researchers to conduct a clinical trial on its proprietary biosynthetic psilocybin product, after obtaining mandatory approvals and licenses.
The psychoactive component present in magic mushrooms, psilocybin, can be accessed in four different ways: chemical synthesis, whole fungi or full-spectrum, naturally-sourced isolated, and biosynthesis.
The latter, which is Psybio’s focus, gets psilocybin from yeast. The company’s strategy is to back its production process with innovation and technology optimization.
This would represent the first time Psybio’s biosynthetic psilocybin reaches the clinical trial stage, which, says the company’s chief medical and scientific officer Dr. Michael Spigarelli, “is expected to further our understanding of these molecules as therapeutic agents.”
Further details will be shared once the attempted approval is obtained. The company recently announced its financial and business highlights for the first three and six months of 2022 and obtained a provisional patent application for the synthetic production of methylated tryptamine spin-offs DMT and 5-MeO-DMT plus filed international patent applications in Europe, Africa and Asia.
Photo courtesy of Pexels.
Posted In: PSYBF
