This is Psychedellux – the week’s top business news in the psychedelics industry. Cybin said it was Starting the IND-enabling trials for CYB003 and CYB004 which is a step forward for Cybin to study these molecules. Our team hopes to produce a robust submission to the FDA that will advance its path forward to clinical trials. Once the studies have been completed,the company plans to file IND applications, targeting treatment-resistant psychiatric disorders and certain forms of addiction, in 2021
Red Light Holland to purchase 80% of Happy Caps Urban Gourmet Mushroom Farm, specializing in quality ‘grow your own mushroom kits’, mushroom plug spawn and fresh mushrooms for the wholesale market
Dimensions Health Centres (“Dimensions”), a psychedelic treatment company, officially announced the company formation and subsequent closure of an initial, oversubscribed round of funding. The company did not disclose the size of the round.
EMPOWER CLINICS INC. (OTC PINK:EPWCF) announced it is now eligible for Depository Trust Company (“DTC”) services in relation to Empower’s listing on the OTC.
A new study published in the New England Journal of Medicine tested the use of psilocybin for depression treatment. Unfortunately for the psychedelic community, the results weren’t overwhelmingly different for psilocybin and the ultimate result was a suggestion for a larger study.