Field Trip To Host MAPS Trials
Field Trip’s (CSE:FTRP) Toronto location has been selected by the Multidisciplinary Association for Psychedelics Studies as a trial site for its upcoming study on MDMA to treat eating disorders.
About Eating Disorders
The study will investigate:
- Anorexia Nervosa, which is characterized by low weight, food restriction, fear of gaining weight and a strong desire to be thin. Anorexia is considered to be the most deadly mental illness.
- Binge Eating Disorder, which involves the consumption of an unusually large amount of food during a relatively short period of time. And feeling out of control over what and how much is eaten and when to stop.
- The study is open label (researchers and participants know what treatment is being administered) and will take place across multiple sites including Field Trip’s Toronto clinic.
- 18 patients, 12 who suffer from anorexia and 6 who suffer from binge eating disorder will be enrolled in the study.
- A support caregiver for each patient will participate in the study and receive non-drug psychotherapy support.
Field Trip’s Role
Field Trip’s Toronto clinic, subject to a site inspection, will host the first trial which has been approved by Health Canada.
- The company’s medical director Dr. Michael Verbora will serve as Qualified Investigator and Site Physician.
- Field Trip will host MAPS-trained therapists who will administer the treatment and collect data on the outcomes.
Why It Matters: We find the growth of partnerships between the nonprofit and for-profit publicly traded companies an interesting and positive development. There are certainly many schools of thought around this but in order to make MDMA and other psychedelic treatments accessible, point of care is incredibly important. Working with big players like Field Trip is one possible avenue to drive the costs of treatment down.
COMPASS Searches for Excellence
COMPASS Pathways (NASDAQ:CMPS) is partnering with the The Sheppard Pratt Institute for Advanced Diagnostics and Therapeutics in Baltimore, Maryland to create a psychedelic Centre of Excellence.
Excellence of COMP360
The Centre will focus on researching COMP360 therapy. COMP360 is a psilocybin derivative developed by Compass Pathways to be used in concert with therapy.
The company describes their new project as “the clinic of the future” where researchers will “ generate evidence to shape therapy models in mental health care, train and certify therapists, conduct clinical trials including proof-of-concept studies, and prototype digital solutions to improve patient experience.”
An Excellent Facility
The centre will be built on Sheppard Pratt’s Towson campus in Baltimore.
- It will be led by Scott Aaronson MD, Director of Clinical Research at Sheppard Pratt.
- The Centre will include at least four state-of-the-art psychedelic therapy rooms.
- Facilities will be constructed for research and training.
COMPASS will be making a capital investment in the building of the Centre and has committed to funding research.
The Netherlands Braces for Mush Rush
Dutch News, an English language newspaper in Holland, is looking into the spate of well funded psychedelic companies setting up in the country.
Red Light Holland (CSE: TRIP) is making the biggest splash having raised $8m and going public on the Canadian Stock Exchange.
- RLH is led by CEO Todd Shaprio, a former radio personality in Toronto, ON. The company recruited an addiction therapist in Thailand, Hans Derix, to move back to The Netherlands to serve as the company’s president.
- RLH’s first product are the iMicrodose packages of psychedelic truffles. If the name wasn’t a tip off they’re going for an Apple type feel.
Microdose-Pro intends to give RLH some homegrown competition.
- The company is marketing their kits to young professionals as nootropic style supplements, and have hired a neuropsychologist to advise their consumers.
- Microdose-Pro is eyeing the broader European market and eventually a US expansion.
It’s not exactly a free-for-all when it comes to psychedelic mushrooms in the Netherlands. In 2008, the government banned 187 psilocybin mushroom strains after a series of tourist deaths.
- The sclerotia mushroom strain is the only exception to the ban, there are no limits to the amount that can be cultivated or sold.
- Extracting pure psilocybin is illegal in the county.
The existing psilocybin truffle market in the Netherlands is tough to measure, but one estimate puts it at $100 million annually. The sleek, well funded, new entrants into the market will have to expand the market or steal away existing users.
- One expert warns that these companies could become victims of their own success. If their products become too popular, and create an adverse effect, the Dutch government wouldn’t hesitate to add sclerotia mushrooms to the banned list.
A host of companies announced additions of executives and advisors, here’s a quick summary.
MAPS Canada Head Joins NeonMind
Trevor Millar is NeonMind’s (CSE: NEON) new Chief Psychedelic Officer. He is the Chair of MAPS Canada and a co-founder and board member of the Canadian Psychedelic Association. Previously, Millar was the President and co-founder of Liberty Root Therapy, an organization that used Ibogaine to treat people with opiate use disorder.
The Chief Psychedelic Officer will be responsible for:
- Developing policy
- Lead projects to use psychedelics to address community health needs such as addiction
- Support NeonMind in development of clinical trials.
- Build NeonMind partnerships and alliances in the psychedelic industry.
Delic Adds Hollywood Big Shot
Delic (CSE: DELC) has named Shep Gordon to its advisory board. Mr. Gordon is a talent manager, film agent, and producer who founded Alive Enterprises in 1969. His agency has represented hundreds of well known performers over the decades.
Better Life Forms Next Gen Psych Advisory Board
Better Life Pharma (CSE: BETR) is forming a “Next Generation Psychedelic Advisory Board,” the first and only appointment so far is Hattie Wells. The first advisor has a broad range of experience with NGOs and has had her work published by MAPS.
Better Life ought to get to appointing more advisers to this board as the first line of their company description is “an emerging biotechnology company engaged in the development and commercialization of next generation psychedelic products.”
The Report Read Out
Minerco (OTC: MINE), who called themselves “The Magic Mushroom Company,”are announcing a deal with a Jamaican company to extract psilocybin, which they claim will set them up for export to Canada and Europe.
Entheon Biomedical (CSE: ENBI) has bought a 5% stake in Heading Health, LLC, a psychiatric clinic platform focused on the administration of psychedelic-assisted therapy to treat mental health disorders.
Field Trip Health Ltd. (CSE: FTRP) closed its previously announced financing for gross proceeds of $20,016,900.
Will psychedelic mushroom vacations come to the U. S.? WaPo is on it.
Numinus Wellness Inc. (TSXV: NUMI) has entered into a lab services agreement with Optimi Health Corp. to advance research and development of psychedelic products.