Published on
February 22, 2022

PsyRx Announces Appointment of Prof. Itamar Grotto as New Executive Chairman of the Board P

TEL AVIV, Israel, Feb. 22, 2022 /PRNewswire/ — PsyRx Ltd, a pharmaceutical company focused on drug discovery based on existing drug combinations with Psilocybin and Ibogaine for treating mental health conditions such as depression, and producing GMP-grade Psilocybin and Ibogaine for research and commercial purposes, announced today that it has appointed Professor Itamar Grotto as its Executive Chairman. The appointment follows the recent renewal of the company's license to conduct R&D in Psilocybin and Ibogaine, issued by the Israeli Ministry of Health.

Prof. Itamar Grotto is a Public Health Physician and Professor of Epidemiology. He was the Director of Public Health Services (2007-2017) at the Israeli Ministry of Health, later to become the Associate Director General (2017-2021). Between 2018 and 2021 he was a Member of the Executive Board of the World Health organization (WHO).

During the Covid-19 pandemic, Prof. Grotto lead the integrative and operative aspects of the emergency response of the Israeli government to the developing crisis.
Prof. Grotto is also an active member of the School of Public Health in Ben-Gurion University in Israel. His main research activities are in the fields of infectious diseases epidemiology, environmental health, health promotion and public health policy development. Prof. Grotto has authored more than 210 scientific publications. In his capacity as a member of the Executive Board of WHO he led the efforts which resulted in the Executive Board resolution on "The Highest Attainable Standard of Health for Persons with Disabilities" in January 2021.

Professor Grotto's experience and expertise will enable the company to effectively continue to develop the production capabilities of GMP-grade Ibogaine and Psilocybin, destined to be used in clinical studies and drug discovery efforts, for treating treatment-resistant depression (TRD) and other mental health conditions, such as addictions.  The substances may also be used by pharmaceutical companies looking to obtain access to Psilocybin and Ibogaine.

Itay Hecht, CEO and Co-founder of PsyRx, said: "We are honored to be joined by a medical professional of such caliber like Prof. Grotto. His knowledge, deep understanding of medical needs and the regulatory landscapes the psychedelic medicine industry is facing is second to none. Moving forward we see his joining as a preemptive strike we can deal before we embark on the regulatory pathway towards approval of psilocybin and later other substances that have a psychedelic effect, alongside other changes, and wider patient acceptance. We are very much looking forward to create an impact on the world of psychedelic medicine, leveraging the natural powers the psychedelic compounds possess".

About PsyRx Ltd:

PsyRx, a psychedelic pharmaceuticals company based in Israel and Licensed by the Israeli Ministry of Health to conduct R&D in the psychedelic substances Psilocybin and Ibogaine, utilizes bioreactor technology to become a leading producer of GMP standard Ibogaine and Psilocybin to be used by target customers in the development and production of psychedelic and Ibogaine-based products, including pharmaceuticals, food supplements and others.

PsyRx intends to use its GMP-standard produced psychedelic materials to launch the development of an anti-depressant drug based on the combination of micro-doses of psychedelics with existing approved antidepressants, to reduce intake time and to improve efficacy, whilst minimizing side effects and without causing a psychedelic experience.

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