New Clinical MDMA And Psilocybin Batches Head To Flourishing Psychedelics Market

Author: Lara Goldstein | April 25, 2023 01:30pm

Psychedelics developer PharmAla Biotech continues to provide its Good Manufacturing Practices (GMP)-compliant psychedelics to Australian-based businesses developing clinical trials and, soon, actual treatments with the substances. 

This time, Incannex Healthcare (NASDAQ:IXHL) has placed a purchase order for the Toronto-based company’s proprietary MDMA “LaNeo” as well as psilocybin to be used in several planned clinical studies.

The agreement follows Melbourne, Australia-based Incannex’s announced plans to create a subsidiary to work with the country on legalizing MDMA for PTSD treatment and psilocybin for that of Treatment-Resistant Depression.

See Also: Using LSD To Treat Anxiety Is Showing Some Encouraging Findings In A Clinical Trial

The new company would open a first “model” clinic providing the mentioned psychedelic-assisted therapies sometime this year. 

Meanwhile, Incannex holds an ongoing Phase 2a clinical trial on psilocybin-assisted therapy for Generalized Anxiety Disorder.

On behalf of PharmAla, the company recently partnered with also psychedelics business Mindset Pharma (OTCQB:MSSTF) to supply clinical-grade psilocybin to Little Green Pharma’s subsidiary Reset Mind Sciences Ltd. for a clinical trial on patients with treatment-resistant, Major Depressive Disorder.

Additionally, PharmAla provided its MDMA to Australian company Emyria Ltd. for research purposes, and further submitted a national trademark application for LaNeo as well as the company’s brand name including both EU-GMP MDMA and EU-GMP psilocybin products.

ICYMI: Exclusive Coverage From the Benzinga Psychedelics Capital Conference 2023:

• Johns Hopkins Professor: Psychedelic Medicine Could Get Messy, Calls For 'Right, Smart, Non-Restrictive, Yet Preventive' Regulations

• Investing In The Unique Growth Market Of Psychedelics

• MDMA Therapy Experts Debate Upcoming Approval, Psychedelic Market Opps

• Ketamine Therapy Leaders Share Bold Vision For Future Of Psychedelics

• In Reinventing Mental Health & Next-Gen Psychedelics, 'Access And Clinical Data Are Key'

• Fireside With Enveric Biosciences's Dr. Tucker, Unlocking Psychedelic Healing Benefits

• Making The World A Better Place, How Psychedelics Are Helping

Photo: Benzinga edit with photo by PublicDomainPictures and sergeitokmakov on Pixabay.

Posted In: IXHL MSSTF