Published on
August 19, 2022

Psychedelic Weekly Headlines | August 19th

Helping investors discover, understand, and stay up-to-date on market news and investment opportunities within the Psychedelic industry.


Performance of psychedelic public companies this past week.

Company News

Cybin ($CYBN) has been granted a Schedule I license from the U.S. Drug Enforcement Agency to support the first-in-human Phase I/IIa clinical trial of CYB003, their proprietary deuterated psilocybin analog being developed as a potential treatment of major depressive disorder. Press Release          

Field Trip Health ($FTRP) completed their spinout transaction and began trading on the TSX as Reunion Neuroscience under the symbol 'REUN'. Reunion's former subsidiary, Field Trip Health & Wellness began trading on the TSXV under the symbol 'FTHW'. Press Release          

Algernon Pharmaceuticals ($AGN | $AGNPF) announced a $1.4M private placement. Algernon will use the new growth capital to fund research and development programs, general and administrative expenses and for working capital purposes. Press Release          

Optimi Health ($OPTI $OPTHF) received permission from Health Canada to manufacture and distribute additional psychedelic substances, most notably MDMA. Optimi is scheduled to begin production and analytical testing of MDMA this October in their recently completed EU-GMP pharmaceutical manufacturing facility. Press Release

Awakn Life Sciences ($AWKN | $AWKNF) signed a licensing partnership agreement with Revitalist Lifestyle and Wellness ($CALM | $RVLWF), one of the largest publicly listed U.S. based ketamine wellness-clinic chains. The agreement will enable Revitalist to treat patients with Awakn's proprietary ketamine-assisted therapy for the treatment of AUD. Press Release          

Small Pharma ($DMT | $DMTTF) received approval to initiate a drug interaction clinical trial in the U.K. The study will assess the interaction between serotonin reuptake inhibitors and SPL026, Small Pharma's lead DMT candidate, in patients with major depressive disorder. Press Release          

atai Life Sciences ($ATAI) entered into a term loan facility for up to $175 million with Hercules Capital ($HTGC), to further continue developing next generation mental health treatments. Press Release          

Core One Labs ($COOL | $CLABF) announced that their wholly-owned subsidiary Vocan Biotechnologies, successfully employed enzymatic production methods to convert synthesized psilocin into viable API psilocybin and reported positive results from their neurogenesis stimulation studies for their psychedelic-based drug formulations. Details        

PharmAla Biotech ($MDMA) became the first and only publicly-traded company to have produced GMP MDMA at scale. PharmAla is currently the only source for commercially-available GMP MDMA, other than MAPS. Press Release    

Nirvana Life Sciences ($NIRV) acquired an exclusive license for a novel delivery system of their psychedelic based therapies. The novel delivery system will be used as a formulating agent for both water soluble and non-water-soluble APIs, allowing a rapid onset of 5 minutes or less. Press Release          

Filament Health ($FH | $FLHLF) has been issued an eighth patent. The patent describes the extraction and standardization of stable doses of psychedelic compounds, further strengthening Filament's industry-leading IP portfolio. Press Release          


AFR: Medical MDMA Focus For Forrest’s New $250M Health Tech Fund  

Forbes: Injectable DMT Formulations Could Help Battle Depression

Salt Lake Tribune: LSD Offers New Hope for Treating Mental Illness in Utah

San Francisco Chronicle: Psychedelics Saved Their Son From Addiction. Will California Give Others the Same Chance?

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