Psychedellux February 12, 2021

The week’s recap of psychedelic industry news:

Revive Therapeutics Ltd. received a receipt for its final short form prospectus for aggregate gross proceeds of $20 million through a syndicate of underwriters led by with Canaccord Genuity Corp. the company also filed a Business Acquisition Report in connection with its acquisition of Psilocin Pharma Corp. 

Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) announced that Canaccord Genuity Corp. has agreed to purchase, on a bought deal basis, an aggregate of 30,000,000 units of the Company at a price of C$0.50 per Unit for aggregate gross proceeds to the Company of C$15,000,000. 

PharmaDrug Inc. (OTC: LMLLF) filed an application with the U.S. Food and Drug Administration to receive Orphan Drug Designation for N,N-Dimethyltryptamine or DMT in the treatment of stroke patients presenting for emergency medical assistance within 3-hours of symptom onset. 

Field Trip Health Ltd. (OTCQX: FTRPF) announced the official opening of the Field Trip Natural Products Limited Research and Development Laboratory for Psychedelic Fungi in Mona, Jamaica. The research facility, which is opening as part of Field Trip’s previously announced strategic partnership with the University of West Indies.

And finally, Red Light Holland announced it is legally selling natural microdoses to consumers, via Magic Truffles in their branded iMicrodose packs in the Netherlands. The company named Comedian, Russell Peters, Chief Creative Officer, and  Industrial Artist, Karim Rashid, was named Head of Design.

Next week I will be moderating a panel in the Mydecine speaker series on Feb 18 at The topic is “Can Psychedelic Drug Design Improve Safety and Efficacy for Medicine?” And it starts at 1:30 eastern

That’s the big news this week

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