New compound shows potential benefits of psychedelics, without the trip
PsychLight, a new genetically-encoded sensor, can predict whether a molecule will activate serotonin receptors which cause hallucinations. With this tool, scientists have identified a new compound that could disrupt the current course of psychedelic drugs development.
- Psychedelics promote neural plasticity, which allows the brain to re-wire itself, by interacting with receptors to stimulate mood-altering neurotransmitters in the brain.
- Unwanted side-effects from hallucinations, such as bad trips, can significantly complicate patient recovery.
- Due to hallucinations, psychedelic therapies currently require assistance from a trained medical team.
- A drug that doesn’t cause hallucinations could be taken at home, without supervision, and require just a small number of doses rather than continued visitations.
Still, scientists largely remain unsure whether patients could possibly gain the full benefits of a psychedelic trip, without the hallucinatory experience.
After a crushing blow, Champignon Brands is back on track
Champignon’s stock took a nosedive following a cease trade order against the company, for failing to properly file and disclose certain financial documents. The British Columbia Securities Commission and Ontario Securities Commission have now lifted this order as of April 22, 2021.
- The company’s stock (CSE: SHRM) surged 100%, after hitting its lowest historical value.
- Cease trade was ordered in connection with a debt-to-equity conversion of common shares.
Since the cease order was issued, Champignon has kept on the move to stay compliant.
- Appointed a new CFO and General Counsel.
- Filed a Notice of Change for their corporate structure.
- Amended and restated listing statement with the CSE.
- Received contributions of capital from existing shareholders.
Trading of the company’s common shares recommenced on April 23, 2021.
What’s Champ up to?
Championon’s operations are mainly focused on owning and operating clinics to provide treatment for mental health disorders, and research to commercialize novel drugs and delivery methods. They’ve established a network of clinics designed to provide rapid-acting treatments for adults with depression and discover novel drug treatments.
Roller-coaster ride for publicly-traded psychedelic companies
High risk, high reward investments are tempting, but certainly not everyone’s cup of tea. It’s been a wild ride for psychedelic companies after going public on the Canadian and US stock exchanges.
- UK-based Compass Pathways (NASDAQ: CMPS) hit a peak value on the US stock exchange, around $60 USD in December 2020.
- So far it has been the best indicator of how a psychedelic company could perform on a larger market. It’s now trading 23% down year to date (YTD), and priced around $36.
- New York-based MindMed (NASDAQ: MNMD) went public last year on Toronto’s NEO Exchange.
- After seeing a 90%+ surge in value from Friday to Monday, it’s now plummeted back down near to last week’s price, below $4 USD.
- Germany-based ATAI Life Sciences has benefited from a lot of press after publicly being backed by Peter Thiel.
- They’ve now filed for an initial public offering (IPO) with the US SEC in order to raise $100 million USD. The listing date, ticker symbol and price remain unknown at the time of this publication.
The transition from 2020 to 2021 has been one of the most volatile 12 month periods in trading history, since the Great Depression. Unlike cannabis, psychedelic products face additional challenges, as they may always require medical supervision. Psychedelic companies will continue struggling to gain acceptance from venture capitalists and retail traders due to a difficult legalization process with the DEA and FDA.
Numinus moves into Phase 1 of clinical trials for psilocybin
In a partnership with KGK Science, Numinus Wellness (TSXV: NUMI) plans to extract and test a “natural psilocybin product” at its laboratory in British Columbia, Canada.
- The Phase 1 trial will enroll 14 human volunteers to assess the safety, efficacy and psychoactive properties of this psilocybin-extracted product.
- Data will seek to improve psychedelic-assisted therapy through government-approved special access and compassionate access programs.
- Their goal is the safe production of a key psychedelic to treat mental health conditions including depression, end of life anxiety and substance use disorder.
- The product will be effective in conjunction with a standardized psychotherapy program under clinical supervision.
What else are they up to?
- The company has also been advancing access to assisted-psychotherapy with Ketamine and MDMA compounds.
- Following their acquisition of Mindspace, they now support practitioners across 3 clinic locations.
- They’ve partnered with Syreon Corporation, a global contract research organization, to assess motivational-enhancement therapy using a “synthetic psilocybin product.”
- This study will take place in Vancouver, enrolling 30 individuals with opioid, stimulant and/or alcohol use disorders.
Ancient knowledge meets modern therapy
Wouldn’t you want to reach a higher state of being and peak flow state? Mind Cure Health (CSE:MCUR) is betting that you do. They’ve licensed SOMA Breath’s program to develop their own psychedelic-assisted therapies, combined with ‘breathwork.’
- SOMA Breath is a global school that combines ancient breathwork techniques based on ‘pranayama’ (yogic breathing) with modern science.
- Studies show that such programs can be as effective as psychedelics to help patients manage stress, reduce anxiety and depression.
- SOMA’s techniques and protocols will enable therapists to design psychedelic-like treatments without the need for drugs.
What does breathwork do?
- Breathwork has been around for centuries. It refers to different breathing techniques and exercises that manipulate the depth and rate of your breath.
- You may have heard of the Wim Hof Method, an example which has recently become popularized around the globe.
- Produces brainwave activity in the brain’s Default Mode Network (DMN), which is comparable to the effects of psychedelics.
- Elevates gamma brainwaves, associated with highly inspired thinking and peak flow states of consciousness. Typically shown in experienced meditators like Tibetan monks.
- Practitioners report feelings of connection, oneness and reduced depression/anxiety.
Mind Cure will soon release the beta version of its iSTRYM application and platform, a go-to resource for therapists and patients for personalized mental healthcare. This breathwork component will enhance the effectiveness of post-session integration, a key area of focus for the Vancouver-based company.
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