psychedelics Archives - Green Market Report

Video StaffJuly 30, 2021

2min8680

This is Psychedellux – the week’s top business headlines for the psychedelics industry.

Field Trip Health Ltd. (OTCQX: FTRPF) has received final approval from The NASDAQ Stock Market to list its common shares on the NASDAQ Global Select Market. The Company’s shares will begin trading at market open on Thursday, July 29, 2021 with the ticker symbol FTRP.

Awakn Life Sciences Corp. (NEO: AWKN) (OTC Pink: AWKNF), a biotechnology company with clinical operations developing and delivering psychedelic medicines to better treat addiction, today announced approval from the Financial Regulatory Authority for its shares to commence trading on the OTC Market in the United States under the symbol “AWKNF” effective today, July 26, 2021. Awakn will continue to trade on the NEO Exchange under its existing symbol “AWKN”.

Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) announced the pricing of its previously announced overnight marketed offering that raised total gross proceeds of $30 million. The company also received approval for the listing of its common shares on the NYSE. Cybin expects its common shares will open for trading on the NYSE on or about August 5, 2021, under the symbol “CYBN”.


Video StaffJuly 16, 2021

3min7720

U.S.-based psychedelic investment fund Palo Santo has launched with an initial $35 million in capital raised and an active portfolio of 20 companies. The diversified venture fund said in a statement that it is focused on tackling the growing global mental health crisis by investing in innovative psychedelic-based and adjacent therapies that are poised to shape the future of psychiatry and fields beyond.

 

Wesana Health Holdings Inc. (CSE: WESA) (OTC: DBDIF) is buying Psychedelitech Inc., also known as PsyTech Inc., for a price of approximately C$21 million an all-stock deal. PsyTech uses data-driven tools that allow physicians insight into patient well-being and clinical best practices. PsyTech is mainstreaming the adoption of psychedelic-assisted therapies through the promotion and delivery of safe and effective therapy, combating stigma, and accelerating innovation.

 

Empower Clinics reported total revenues of $2 million in the first quarter of 2021. The company also reported a net loss of $25 million, which it said was primarily driven by a non-cash loss on the fair value adjustment related to the Company’s warrants. 

 

PharmaDrug Inc. (CSE: BUZZ) (OTC Pink: LMLLF)reported interim positive results from its ongoing preclinical study evaluating the company’s patented Cepharanthine (“PD-001”) in a broad panel of human cancers. To follow up on these highly encouraging results, PharmaDrug said it will quickly initiate an additional in vitro efficacy study to assess the potential of cepharanthine to provide additive benefits in combination (combo-therapy) with the current standard of care agents. The drug is derived from a non-psychedelic plant called Stephania.


StaffJune 24, 2021
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4min8750

Silo Wellness Inc.  (CSE: SILO) (OTC: SILFF) has launched Marley One, a psychedelic mushroom consumer brand, in collaboration with the family of legendary musician Bob Marley. Silo said that the initial product offering will include a range of functional mushroom tinctures with unique blends highlighting the brand’s connection to Jamaica, including species such as cordyceps, lion’s mane, chaga, reishi, and turkey tail that offer a range of unique health and wellness benefits, from immunity and gut health to cognitive function and sleep enhancement. These initial mushroom supplements have no psychoactive properties, but Silo said it is planning a psychedelic mushroom product line under the Marley name later this year.

“Today is a significant milestone for our company as we introduce the world to Marley One, a portfolio of branded mushroom products with instant name recognition and global visibility honoring Bob Marley’s legacy and connection to nature and plant-based wellbeing,” said Silo Wellness CEO Douglas K. Gordon.  “We are building what will become the world’s first global functional and psychedelic mushroom brand, guided by our vision to help people achieve healthier, more fulfilling lives and become the best versions of themselves.”

In March, Silo Wellness announced a multi-year licensing agreement with the family of global reggae icon Bob Marley for the exclusive worldwide rights to brand, market, and sell a distinct product line of functional and psychedelic mushrooms.

“We know Bob would be proud of what we’re building with Silo Wellness and the Marley One brand,” said Rita Marley. “Our family has always revered the ancient history and transformative potential of nature’s gifts.”

At launch, the Marley One product line includes:

  • One Mind: A coffee-flavored blend of lion’s mane and gingko biloba designed to improve focus and cognitive function.
  • One Flow: A peppermint-flavored blend of cordyceps and ginseng designed to enhance physical endurance and mental function.
  • One Harmony: A mango-flavored blend of chaga and ginger designed to stimulate gut health and improve digestion.
  • One Body: A berry-flavored blend of turkey tail and astragalus designed to support immune health.
  • One Rest: A vanilla-flavored blend of reishi and GABA designed to help reduce tension and stress and improve quality of sleep.

Cedella Marley, CEO of Bob Marley Group of Companies added, “As a family, we seek to use our platform to inspire positive change, and the launch of the Marley One mushroom brand, in collaboration with a pioneering company like Silo Wellness, allows us to do just that by marrying ancient wisdom with modern science. It’s our wish that these products will empower people to experience oneness with nature and the universe at large – and ultimately, achieve greater self-actualization.”


Video StaffJune 18, 2021

3min11180

Atai Life Sciences  (Nasdaq: ATAI)  announced the pricing of its upsized initial public offering in the United States of 15,000,000 common shares at a price to the public of $15.00 per share. atai’s common shares are expected to begin trading on the Nasdaq Global Market on June 18, 2021 under the ticker symbol “ATAI.” In April, the company had initially planned on a $100 million offering, but that has ballooned to $225 million.

Cannabis company Creso Pharma Limited  (ASX: CPH)  (OTCQB: COPHF) is merging with psychedelic treatment company Red Light Holland Corp. (CSE: TRIP) (OTC Pink: TRUFF) to create The HighBrid Lab. The transaction is a reverse takeover of Red Light Holland by Creso Pharma giving Red Light shareholders a 29% premium for their shares. Creso shareholders will own 57% of the new company. 

PsyTech Inc., closed a $3.81 million oversubscribed Series A funding round.  The round was led by Ambria Capital as well as investors in the psychedelics, banking, and medical practice sectors.

Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) announced the launch of its in-silico drug discovery program in conjunction with researchers at the University of Alberta. the program is focused on developing artificial intelligence/machine learning (AI/ML) supported drug screenings, including both the ability to build drugs from the receptor up and assess drugs around the receptors of Mydecine’s choosing.

Field Trip Health Ltd. (TSX: FTRP; FTRP.WT; OTCQX: FTRPF) announced that it has completed initial drug metabolism and pharmacokinetic (“DMPK”) studies for FT-104, its novel psychedelic compound in development. 

Novamind Inc. (CSE:NM)(OTC PINK:NVMDF)announced that it has made a strategic investment of $1 million in a stealth mode drug development company based in the United States. For now all information is confidential. 


Julie AitchesonMay 20, 2021
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The results of Field Trip Health Ltd.’s (OTC: FTRPF) first annual “State of Mind” survey hold few surprises for those who have followed the news around the effects of the pandemic on mental health. Field Trip Health is the largest provider of psychedelic therapies in the world and initiated this survey to look into the state of mental and emotional health in the U.S., and to get a sense of how receptive respondents are towards incorporating psychedelics into treatment. 

Though there have been positive stories about those who took time to reconnect with family, enjoy a slower pace of life, and exercise more during the Covid crisis, over eight out of ten Americans surveyed by Field Trip reported at least one symptom of depression. This contrasts with the 76 percent of respondents who self-identified their mental health as “good” or better, which demonstrates a possible lack of understanding around the metrics of mental health and as well as a disparity between those metrics and self-perception. Younger Americans between the ages of 18 and 24 posted the highest results in self-reported symptoms of depression, while only 10 percent of those 65 years and older reported the same. Out of all respondents surveyed, a striking 1 in 4 reported that they have felt that they would be better off dead or thought of injuring themselves. 

Field Trip’s survey also revealed that while a substantial number of respondents (42%) are relying on the support of a therapist, counselor, or other mental health professionals for support, many Americans have turned to drugs and other vices as coping mechanisms to deal with negative thoughts or emotions. Those mechanisms include alcohol (with 37% reporting increased consumption since the pandemic began), porn, overeating, and gambling. The use of prescription medications and opioids increased as well. The survey also revealed that women were more likely than men to indicate negative mental health states and appear to have borne the brunt of negative mental health outcomes during the pandemic in addition to (and no doubt compounded by) the negative impacts on their professional and financial security.

While the survey results might not have been encouraging as far as the current state of mental health in the U.S. is concerned, it was optimistic regarding the role psychedelics might play in addressing the fallout from the last fifteen months of pandemic stress. Despite the fact that 70 percent of Americans reported never having tried psychedelics, a full 37 percent would support the use of psychedelic-assisted therapies after a description of the process, 24% would be open to trying those therapies, and 23% of respondents were curious to learn more about them. With more states making moves to legalize the use of psychedelics for the treatment of mental illnesses including PTSD and other trauma-related disorders, the receptivity to psychedelics as a therapeutic adjunct reported by Field Trip suggests that when those therapies become available, there will be a sizable population ready to seek them out.

 


Video StaffApril 23, 2021

3min12560

This is Psychedellux – the week’s top business headlines for the psychedelics industry

 Atai Life Sciences plans to raise $100 million in an IPO. The company has built a pipeline of 10 therapeutics and six enabling technologies. 

Lots of medical updates this week. 

Aion Therapeutics Inc. (CSE: AION) announced that its proprietary and patented combinatorial mushroom preparations showed high efficacy in killing HER2+ breast cancer cells, ER+/PR+ breast cancer cells, and triple-negative breast cancer cells by direct cytotoxicity. The company said it plans to begin initiating clinical trials.

Revive Therapeutics Ltd. (CSE: RVV, USA: RVVTF) announced the successful completion of the research results and filing of a U.S. provisional patent application with The United States Patent and Trademark Office on its oral thin-film delivery system with psilocybin 

Cybin Inc. (OTCQB:CLXPF)  announced that it has successfully demonstrated Proof of Concept for its deuterated tryptamine programs, CYB003 and CYB004, for the treatment of depression and addiction. Cybin is working to shorten the length of time that psilocybin treatments take and this program is part of that research. 

NeonMind Biosciences Inc. (OTC:NMDBF)  said that it is establishing a medical services division for the delivery of evidence-backed innovative treatments for a variety of mental health needs. This will include psychedelic modalities and other newer treatments for mood disorders such as depression. NeonMind has appointed Ernie Ho as VP, Corporate Development, with his initial focus to be the development of the team to build out medical services as well as to identify and assess partnership and acquisition targets.

 


Julie AitchesonMarch 22, 2021
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Whether through research, writing, entrepreneurship, investment, or artistic endeavor, women are making important inroads in the emerging psychedelics market. A 2020 Global Drug Survey found that women are more likely than men to use LSD and magic mushrooms to treat psychiatric conditions and emotional stress.

“It’s time we stepped into our power and psychedelics can help us do that,” says Zoe Helene, founder of environmental feminist collective Cosmic Sister. Helene coined the term “Psychedelic Feminism”, which is a sub-genre of feminism that embraces the transformational power of psychic plants, and she isn’t the only one who sees the potential of psychedelics to positively impact women’s lives.

Susan Chapelle, Havn Life’s (OTC: HAVLF) executive vice president for research and development, sees massive growth in integrating psychedelics into women’s health. She points to the war on drugs, which disproportionally impacted women and low-income communities, as evidence of a political bias that continues to deprive these demographics of access to safe and effective plant medicines due to restrictive regulations. By creating a safe, standardized supply chain for researchers, Chapelle hopes to break down this bias and get psychedelics to those who could most benefit, women included.

As Ann Barnes, CEO of Edica Naturals and co-director of Red Light Holland (OTC: TRUFF) says, “Now, the massive amount of research being done by the psychedelic community will truly help women- this will be an imperative part of women’s health.” According to the American Psychiatric Association, every year one in five women in the US has a mental health problem such as depression, PTSD, or an eating disorder, which makes Barnes’ prediction sound more like realism than optimism.

 The APA also states that twice as many women suffer depression as men, and twice as many women are likely to experience anxiety or PTSD– conditions which psychedelics are most commonly used to treat. In 2020, Data Bridge Market Research projected that the psychedelic drugs market would reach $6.5 billion dollars by 2027, growth at least partially attributed to factors such as the increasing prevalence of depression and mental disorders and the increasing acceptance of psilocybin as an effective treatment. With women at the forefront of a mental health revolution working to incorporate psychedelics into treatment protocols and a large and growing population of women in need of the benefits these substances offer, the economic future of the psychedelics market could very well be female.

 


Video StaffMarch 5, 2021

3min7200

This is Psychedellux your weekly recap of the psychedelic industry business news

Psychedelic media company Delic Holdings Inc. (OTCQB: DELCF) has acquired mushroom kit maker and media company Homestead brands in an all-stock deal. DELIC issued subordinate voting shares worth $50,000 and 50,000 incentive stock options were also granted to Homestead founder David Tatelman, with an exercise price of $0.58. David Tatelman will act as a consultant to the company.

NeonMind Biosciences Inc. (CSE: NEON) (OTC:NMBDF) announced that they have filed four additional provisional patents on psilocybin preclinical data. NeonMind has a consumer products division focusing on medicinal mushroom infused products, as well as a pharmaceutical division focused on drug development of psychedelic compounds. 

Optimi Health Corp. (CSE: OPTI) closed its oversubscribed IPO and began trading its shares last Friday on February 25, 2021 on the Canadian Securities Exchange. 

Mydecine completed its harvest of psilocybin mushrooms at a private facility in Jamaica. The first shipment of the harvest has now been received at Mydecine’s Canadian facility, which has a Health Canada Schedule 1 Dealer’s License attached to it.

 Novamind Inc. (OTC:NVMDF) reported its fiscal second-quarter results for the three months ended December 31, 2020. The company had revenue of $1.2 million primarily composed of patient services from the clinics in Utah. The company said it was a 47% increase over the first fiscal quarter ending September 30th, 2020.

Ehave, Inc. (OTC Pink: EHVVF) filed for a patent for a trademark on its KetaDASH brand name. The company also filed its application to uplist its shares on the OTCQB market.

Cybin Inc. (OTCQB:CLXPF) uplisted from the Pink Sheets to the OTCQB Venture Market with the symbol “CLXPF”.


Video StaffFebruary 26, 2021

3min5630

This is Psychedellux, the week’s top news for the psychedelics industry.

Massachusetts lawmakers are moving forward to decriminalize psychedelic drugs. The effort began at the city level when Somerville and Cambridge adopted measures that would make possession of psychedelics a low law enforcement priority. Now it has moved to a state-wide initiative with legislature introduced in both the state senate and house. 

Red Light Holland Corp. (OTC: TRUFF) announced that Brazil has granted authorization for the company’s iMicrodose packs, which contain 15g of Psilocybin Truffles, to be legally imported to Brazil. Also this week, the company issued 26 million units in an offering that brought in over $11 million. 

EMPOWER CLINICS INC. (EPWCF:OTCQB) announced the launch of its first three integrated health centres in Ontario, Canada with each location expected to generate $2.5 – $3.6 million in annual revenue. Advanced discussions are currently underway on multiple additional locations as the company begins the rollout of its national clinic expansion strategy.

NeonMind Biosciences Inc. (CSE: NEON) has purchased an initial order of GMP grade psilocybin from Psygen Labs Inc. for its planned phase 2 human clinical trial expected to begin in Canada later this year. Psygen is a Calgary-based company specializing in the synthetic manufacture of psychedelic medicines. The company provides non-exclusive access to psychedelic drug products for clinical research, therapeutic applications and is a leading supplier for the emerging commercial market.

Novamind Inc., (OTC PINK:NVMDF)  has changed its OTC symbol from “HNLMF” to “NVMDF” effective February 19, 2021.

Psychedellux has been brought to you by the Green Market Report.


Video StaffFebruary 5, 2021

4min6920

Welcome to Psychedellux – the recap of the top psychedelic industry news for the week ending February 5, 2021.

Cybin Inc. (NEO:CYBN) closed its previously announced bought deal that issued over 15 million units of the Company at a price of CDN$2.25 per Unit for aggregate gross proceeds of CDN$34 million. 

Delic Corp., signed a binding agreement to acquire Ketamine Infusion Centers (KIC), which owns and operates two ketamine infusion treatment clinics.  one in Phoenix, AZ and one in Bakersfield, CA. In the last three years, the company has generated over $1.5MM in revenue.

Algernon Pharmaceuticals said it is going to pursue DMT for the treatment of stroke in humans and is planning clinical trials this year. The company said it is motivated  by results of a 2020 pre-clinical study where rats treated with DMT recovered motor-function more quickly and exhibited better neural growth of brain cells; plus brain lesions were significantly reduced compared to animals that did not receive DMT (Today’s Press Release with details).

In legislative news, 

The Campaign to Decriminalize Nature DC said that Initiative 81, the Entheogenic Plant and Fungus Policy Act of 2020, has been transmitted to Congress and the “Projected Law Date” is March 19, 2021.  Initiative 81 reforms police priorities to help ensure that DC residents benefiting from natural psychedelics known as entheogens are not police targets. Initiative 81 passed with support from more than 76% of DC voters in November.

In Australia, the TGA announced its interim decision not to amend the current Poisons Standard in relation to the use of medical-grade psilocybin and medical-grade MDMA as part of therapy to treat patients suffering from treatment-resistant mental illnesses including Depression, PTSD, and Substance Abuse. Mind Medicine Australia said it will contest the Decision Not to Reschedule Psilocybin and MDMA for Medical Use as Part of Therapy for Key Mental Illnesses. 

Psychedellux is brought to you by Green Market Report.


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