New Hampshire Court Supports Religious Right To Trip
The Supreme Court of New Hampshire overturned the conviction of a man busted for possessing magic mushrooms, ruling that the charges interfered with his right to religious freedom.
Jeremy D. Mack is a member and minister of the Oratory of Mystical Sacraments branch of the Oklevueha Native American Church, a shamanic earth based religion that involves magic mushrooms used for sacrament.
- Mr. Mack was convicted in 2018 for possession of psilocybin after police conducted a search relating to an unrelated investigation.
New Hampshire’s Supreme Court overruled the lower courts declaring that Mr. Mack’s rights had been violated, throwing out the conviction.
A previous appeal was denied as the judge ruled that while the US constitution protects religious beliefs it does not protect all religious practices. NH’s Justices overruled that decision unanimously because their state’s constitution explicitly protects beliefs and practices.
Zoom Out: The United States has a long history of making narrow religious exemptions for its war on drugs.
Beckley Psytech Raises £14 million
The corporate arm of the esteemed British non-profit has brought in £14 million ($19.05m USD/ $24m CAD) to fund the development and commercialization of psychedelic drugs.
Beckley Foundation’s Background
- The Foundation was founded in 1998 to push for drug policy reform and advance research into psychoactive substances.
- The Foundations founder and leader Amanda Fielding is renowned as a pioneer in the area of drug reform and research. She even once drilled a hole in her own head to “open up her mind.”
- Beckley’s Scientific Programme collaborates “with leading experts and institutions to design, initiate, and direct scientific research projects, including clinical trials.”
- The Policy Programme works with experts to “develop evidence-based global drug policies.”
Pivot to Profit
Beckley Psytech was launched earlier this year to develop “safe and effective psychedelic medicines available to patients in need and integrating these treatments into mainstream medical practice.”
- The for-profit organization is led by Cosmo Fielding Mellen, Amanda’s son.
- Psytech will provide financial and technical support to develop the Foundations most promising research.
- Psytech will donate a share of future revenues to fund the non-profit work of the Foundation.
Let’s Talk Money
Psytech previously raised £3 million in May 2020, led by MediqVentures, Berti Investments, Jam Jar Investments and Murray Goldman. This larger round saw new investors join including Noetic Psychedelic Fund LP and Bail Capital.
- The funding will go to, among other things, Beckley Psytech’s clinical trial of 5-MEO-DMT.
PharmaTher Drops Psilocybin To Revive
Revive Therapeutics (CSE: RVV) has entered into an agreement with PharmaTher (CSE: PHRM) to acquire their portfolio of psilocybin intellectual property.
What’s In The Shopping Cart?
PharmaTher has several assets in their psilocybin program including:
- Pre-clinical research activities in traumatic brain injury and stroke.
- Intellectual property portfolio covering neurological disorders, cancers and novel combinations of psilocybin and FDA approved drugs.
- IP derived from the study being currently undertaken by the National Health Research Institute in Taiwan.
- Several US patent applications.
PharmaTher is focusing on their lead clinical studies of ketamine to treat Parkinson’s disease, depression and pain.
Revive is focused on the development of an orally dissolvable delivery strip for psilocybin, which they intend to develop into FDA approved products to treat neurological disorders and orphan drug indications. The company says Pharmather’s assets will support these efforts.
- The deal is expected to close by January 31st. 2021.
Report Read Out
Better Life (CSE: BETR) closes acquisition of Transcend Biodynamics LLC and adds a Chief Psychedelics Officer and a Chief Psychedelics Scientist to their team.
Mydecine Innovations Group (CSE: MYCO) has engaged the contract research organization ethica for its Phase 2A clinical trials which will focus on psilocybin-assisted psychotherapy to treat chronic PTSD in veterans and EMS personnel.
Sheri Eckert, one of the leaders of Oregon’s successful psilocybin legalization effort, has passed away at age 59. May her memory be a blessing.