Vancouver-based Filament Health, a natural psychedelic drug development company, has expanded the scope of its research.
The Backstory
- Filament is already licensed to work with psychoactive mushrooms.
- an amendment to its Health Canada Dealer’s License will now allow Filament to possess, produce, research, export and import all remaining controlled natural psychedelic substances.
- Ryan Moss, Filaments Director of Research, believes that this is key to helping the company unlock and standardize the healing elements of psychedelics.
The Plan
Filament plans to produce natural extracts of these natural substances (DMT, Mescaline and Ayahuasca) in their facility in Metro Vancouver. With the goal of entering clinical trials to demonstrate their safety and efficacy.
- In June, Filament announced that its natural extracts would be administered in clinical trials in collaborations with the Translational Psychedelic Research Program at the University of California.
- The phase 1 clinical trial will seek to establish dosages and treatment safety and is set to begin later this year.
Dr. David Nutt, a psychiatrist and a neuropsychopharmacology professor at Imperial College London and formerly the U.K. government’s top drug adviser is a consultant on the project. “The idea is, can we stimulate neurogenesis without being psychedelic?”
The Vancouver company has been granted approval from Health Canada to study MDMA-assisted therapy for PTSD.
- The feasibility study is being done in collaboration with the MAPS Public Benefit Corporation.
- Numinis sees this no objection letter as a key go-forward in the creation of a legal, regulated system for MDMA assisted therapy.
- The company’s aim is healing depression, anxiety, trauma, pain and substance abuse, rather than just managing the symptoms.
Numinus will seek approximately 20 volunteers to study the safety and effectiveness of MDMA-assisted therapy. A preliminary study has been completed previous to this clinical phase.
- Preliminary Results Showed that 88% of participants who got three controlled and supervised MDMA-assisted therapy sessions experienced a significant reduction in symptoms.
- The study will include meeting with therapists for preparatory sessions and day-long drug sessions.
Red Light Holland is an Ontario-based organization engaged in the growth and sale of magic truffles to the legal market within the Netherlands. They recently entered into a definitive agreement as of July 29th. Red Light Holland will acquire 100% of Mera Life Sciences outstanding shares for $2,450,000.
The Specifics
- The consideration consists of up to 7,000,000 common shares based on a price per “Red Light Share” of $0.35.
- The transaction is subject to several closing conditions but is expected to be completed by the end of the first week of August.
- The Red Light Shares will be released to the vendors based on the achievement of several milestones that revolve around Red Light iMicrodose truffles success in St. VIncent and the Grenadines (SVG), where Mera is a pioneer licensee.
Mera Life Sciences
Mera currently holds a Medicinal Industry Development License, issued by the SVG Bureau of Standards. It permits a wide array of allowances around scientific research and development pertaining to psychedelics.
- In closing the acquisition of Mera, Red Light Holland gained access to a new market and finalized the addition of applied sciences to their organization.
- Todd Shapiro, CEO and Director of Red Light Holland stated that “I am confident that this acquisition will allow us to broaden our scope for research and development/production and patient access to psychedelic compounds in groundbreaking ways”
Field Trip Health, one of the global leaders in the development and delivery of psychedelic therapies, announced today that it has received final approval from the NASDAQ Stock Market LLC to list its common shares on the NASDAQ Global Select Market. .
- Field Trip is the 5th psychedelics company to get the Wall Street welcome this year.
- Listing on one of the leading security exchanges for biotech companies will enable Field Trip to expand its reach to investors both in North America and Globally to support their research and development.
- The company’s stock will continue to trade in Canada on the TSX under FTRP and concurrent with the NASDAQ listing, the shares will cease to be quoted on the OTCQX.
- The shares are currently trading at $5.75 and has a trading volume of approximately 65,000.
Field Trip is currently engaged in developing FT-104, a novel psychedelic molecule. They are preparing for Phase 1 studies and production. For the time being, they are offering treatment using Ketamine.
Dustin Robinson, a Florida-based cannabis and psychedelics attorney, has recently founded Iter investments, a newly launched venture capital firm focused on the psychedelics sector.
- Robinson also founded Mr. Psychedelic Law, which is focused on driving legal reform through medical research.
- He has drafted numerous bills and resolutions, including a Florida bill that seeks to legalize psilocybin mushrooms and decriminalize entheogenic plants and fungi.
- Robsinson has also co-founded other nonprofits in the psychedelic space.
With the psychedelics industry is estimated to pull in nearly $7B by 2027, it’s no surprise that new firms like Iter are gravitating towards the space.
- Among Iter Investments’ portfolio companies are:
- Wesana, a company that aims to treat traumatic brain injuries using psilocybin.
- Awakn Life Sciences, a biotech firm focused on developing treatments for addiction using psychedelics, and
- Psilera Bioscience, a company with IP that includes new chemical entities and delivery systems.
- Psygen, a manufacturer of pharmaceutical-grade psychedelic API products for pre-clinical and clinical research and, eventually commercial therapeutic applications.
Robinson started the investment firm as an answer to his cannabis clients inquiring about getting into the psychedelics industry. The goal of Iter is to deploy capital into research and the supporting infrastructure of therapeutic medicines. With the end goal being a primary investment entity for the entire psychedelic value chain. Iter has built a team that it believes will make them the go-to resource for “smart capital”.
Australia Gets Psychedelics Research Institute With $29M In Funding From Undisclosed North American Company.
Ketamine One advances research capabilities via controlled substance dealers license application.
MindMed launches human trials on DMT, the main psychedelic ingredient in Ayahuasca
ATAI Life Sciences launches InnarisBio to develop a more effective nose to brain delivery method for their platform of mental health therapeutics.
Psilocybin could be the key to treating the obesity epidemic.
