Canadian Healthcare Professionals Get Trip Approval
17 Canadian healthcare professionals (HCPs) have been given the go ahead by the federal government to possess and use psilocybin for training purposes. The HCPs are associated with Therapsil, an advocacy group advocating for the use of psilocybin therapy. The access was granted as an exemption to section 56(1) of the Canadian Drugs & Substances Act.
Backstory: Therapsil has worked with 14 patients who have been approved using the same exemption to access psilocybin therapy. Beginning in June 2020 the non-profit began to support HCPs to apply to use psilocybin making the argument that to provide high quality care to patients the caregivers must experience psilocybin therapy for themselves.
Coalition of Support: Therapsil has rallied the support of a number of members of Canadian Parliament including Carolyn Bennett and Hedy Fry both former Liberal cabinet ministers and physicians.
Training Ahead
Therapsil’s HCP training program involves experiential learning where participants take psilocybin with a guide to experience and understand the altered state.
- The training also includes lectures, case studies, readings, and discussions.
- Therapsil is raising donations to support training programs and exemptions for more patients and HCPs.
Cybin Makes Adelia
Fresh off their public debut Cybin Corp. (NEO:CYBN) is scooping up Adelia Therapeutics, a Boston based biotech.
Deal Details: Cybin is buying 100% of Adelia for approximately $20 million CAD / $15.4 million USD.
In the deal Cybin picks up some key assets including:
- Intellectual property: Adelia brings six patent applications for novel therapeutics, delivery methods, and therapeutics. A library of psychedelic derivative drug development candidates and patented active pharmaceutical ingredients.
- Leadership: Adelia’s leadership team has been behind the development of drugs such as Allegra, Sabri, Anzemet, and Vaniqa and have been affiliated with major pharmaceutical companies including Johnson & Johnson, GlaxoSmithKline, Sanofi, Roche, Pfizer and Eli Lilly.
- Facility: Adelia will bring to Cybin their operating development facility.
Look Ahead: The acquisition shores of Cybin’s operations, speeding their drug development pipeline and building on their scientific human resources. And don’t forget, Cybin raised $45 million in October. They’re ready to go.
Deals, Deals, Deals!
Sorry, we don’t have any deals on a bag of shrooms, but the companies who might one day sell you a trip are closing their own deals.
Tryp Therapeutics’ IPO
Tryp, a biotech company focused on tackling rare diseases and diseases with “high unmet medical needs” is prepping for an IPO on the Canadian Securities Exchange with the filing of their prospectus.
Tryp’s Pipeline consists of two candidates:
- TRP-8802 for the treatment of fibromyalgia
- TRP-1001, an oral formulation of razoxane for the treatment of soft tissue sarcoma.
What’s on Offer?
The Company will be selling 17,400,000 shares for proceeds of $4,350,000. The company intends to begin trading on or about December 17th under ticker symbol TRYP.
Field Trip’s Flow
Field Trip (CSE:FTRP) has entered into a bought deal agreement with investment bank Stifel GMP. The deal will bring in approximately $15 million which will be used for “working capital and general corporate requirements.”
It is expected to close on January 5th, 2021.
Trying DMT at College
DMT has gotten through the first phase of approvals to be trialled in the UK for the treatment of depression. The cleverly named Small Pharma, along with Imperial College, have been approved by The Medicines and Healthcare products Regulatory Agency (MHRA). The group will also need approval from the UK’s Home Office as DMT is a controlled substance.
Trip Itinerary:
- The trial’s aim is to establish the lowest dose of DMT that elicits a psychedelic response.
- 32 healthy volunteers who have never taken a psychedelic drug will be studied initially, followed by 36 patients with clinical depression.
The trial, which is scheduled to begin in January, will function similarly to psilocybin and MDMA trials where a patient is dosed and undergoes a therapy session.
Keep It Short: The significant difference between DMT and psilocybin or MDMA is the duration of the psychedelic effects. DMT has a quick onset and a shorter duration than the other two drugs, meaning the experience can be completed in a shorter period of time.
Report Read Out
Ketamine antidepressant clinical trial to start in Rotorua and Tauranga: A slow release ketamine is being trialed in New Zealand.
NJ Assembly panel approves magic mushrooms bill: The state’s judiciary committee voted to downgrade the charge to a disorderly persons offence.
The Case for Macrodosing: Why you shouldn’t let the trendiness of microdosing distract you from the benefits of a big trip.
Mind Cure Moves into Psychedelic Assisted Therapy with British Columbia Location: The clinic intends to offer psilocybin and ketamine assisted therapy.
Psychedelics Weren’t As Common in Ancient Cultures As We Think: The claims of psychedelics dating back millenia aren’t really supported by fact, according to a Vice report.
Minerco Inc., The Magic Mushroom Company, Is Now in Advanced Discussions with CBD Manufacturing White Label Company WLCCO for a Potential Acquisition: We’re glad they’re talking about the potential…
