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Top Psychedelic Business News: Nov 22-26

Truffle Report has compiled a roundup of major psychedelic business news stories from November 22-26, making it easier for you to access these insights in one place.

COMPASS Pathways Awarded New Patent

COMPASS Pathways announced on Tuesday that it has been awarded its fifth patent, designated US Patent No 11,180,517, covering methods of treating treatment-resistant depression with crystalline psilocybin, and the accompanying oral dosage forms. This is COMPASS’ 10th patent application overall, with five so far being approved by official bodies in the U.S., U.K., Germany, and Hong Kong.

This proprietary crystalline psilocybin is used in COMPASS’s COMP360 psychedelic therapy formulation.

George Goldsmith, CEO and Co-founder, COMPASS Pathways, said, “This 10th patent is a strong testament to our innovation. Patents enable us to continue to do the highest quality clinical research so we can work to bring therapies to patients who are suffering with serious mental health challenges and have few options.” 

Cybin Announces Grant for NY Hospital

Toronto-based biopharmaceutical company Cybin Inc. announced on Tuesday that it had awarded a grant for the establishment of a psychedelic treatment clinic to Lenox Hill Hospital on Manhattan’s Upper East Side. The program is designed to begin integrating psychedelic therapy practices into clinical/hospital settings, and hopes to provide underserved communities with access to these medicines.

The dollar amount of the grant was not disclosed.

Clinicians will receive training in Cybin’s EMBARK model for psychedelic-assisted psychotherapy. This includes MDMA-, ketamine-, and tryptamine-assisted psychotherapy. The clinic also aims to provide treatment for frontline workers affected by COVID-19.

“It’s time for psychedelic medicine to climb down from the ivory tower and into the community. We are honored to support this program at Lenox Hill Hospital to start a low-cost/no-cost psychedelic-clinic for marginalized and underserved communities in New York,” said Dr. Alex Belser, Chief Clinical Officer of Cybin.

Psychedelic Business News: Numinus Receives Conditional Approval to Uplist to TSX

British Columbia-based Numinus Wellness Inc. announced on Friday that it had received conditional approval to uplist from the TSX Venture Exchange to the Toronto Stock Exchange. A timeline for the move will be provided once full approval has been granted. The company was among the first entrants into the psychedelic medicine sphere, achieving early research milestones, and establishing an ongoing partnership with MAPS in its far-reaching MDMA studies.

“This is an important milestone for Numinus, as we take key steps to heighten our corporate profile and reach a broader range of investors,” said Payton Nyquvest, Founder and CEO of Numinus. “Today’s announcement is reflective of many exciting developments occurring at Numinus. We’re actively growing our clinic network across North America, expanding our lab capabilities, and strategically investing in clinical research to drive long-term value creation for our investors.”  

Havn Life Imports Psilocybin From Jamaica

On Monday, Havn Life Sciences announced the successful importation of psilocybin mushrooms from its facilities in Jamaica to the laboratory division of Nectar Health Sciences in Victoria, British Columbia. 

“This partnership is a huge win for us as we look to secure additional supply agreements with Canadian companies, now that the integrity of our supply chain from Jamaica has been demonstrated,” said HAVN Life CEO, Tim Moore. “As the research and drug development work on psilocybin moves forward, HAVN Life continues to position itself as a supply chain leader, able to meet the demand for naturally derived psilocybin,” he added.

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