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Entheon Biomedical Corp. announced the launch of a psychedelics genetic test kit last week through its wholly owned subsidiary HaluGen Life Sciences Inc.
The launch represents the first revenue stream for the company, said CEO Timothy Ko.
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The test will serve as a pre-screening platform for patients looking into psychedelics-assisted psychotherapy, offering “genetic, personal and familial insights” to improve patient care and reduce possible risks associated with the therapy.
Clients receive a simple test kit in their home, do a cheek swab and return the kit to the company, which conducts a PCR genetic analysis at its Toronto testing facility.
The company said the test is now available for sale in Canada, and expects to offer availability in the U.S. in coming months.
Mydecine Unveils 4 Psychedelic Drug Candidates
Mydecine Innovations Group (Pink: MYCOF) announced its four lead novel drug candidates Wednesday.
The company plans to present the candidates at Pre-Investigational New Drug meetings with the FDA and Health Canada, a necessary step in obtaining approval for drug development and clinical trials.
The candidates are:
- MYCO – 001: a form of pure psilocybin derived from natural fungal sources, targeted to be used at mid-to-late-stage clinical trials.
- MYCO – 002: an empathogen with similar effects to MDMA that could have an improved safety profile.
- MYCO – 003: a psilocybin-based formula that could diminish the possibility of bad experiences by reducing patient anxiety.
- MYCO – 004: a hallucinogen delivered transdermally, offering precision dosing and long-term compound stability.
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The claims presented for these compounds need to be proven in clinical trials and via further research.
“By increasing the complexity of these compounds, we are increasing layers of patents applied, which in turn, also adds pharmaceutical value to the drug candidates,” said Joshua Bartch, co-founder and CEO of Mydecine.
California Psychedelics Decriminalization Bill Passes Senate Committee
A bill to decriminalize psychedelic substances in California, introduced in February by Sen. Scott Wiener, was approved by the Senate Public Safety Committee of the California legislature.
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The legislation would remove penalties for the possession and use of psilocybin, LSD and DMT, MDMA, ketamine, mescaline and ibogaine, among others. It would also expunge the criminal records of people charged with crimes related to use and possession of these compounds.
The bill will now head to the Senate Health Committee, Marijuana Moment reported.
Atai Buys Majority In Psyber Brain-Computer Interface
Atai Life Sciences announced on Wednesday it has acquired a majority stake in Psyber, a company working with brain-computer interface digital therapeutics.
Brain-computer interface is a type of technology that allows a direct interaction between the human brain and a piece of software. Psyber, a Delaware-based company, works with EEG to provide this technology.
“Traditionally, the main goal of BCI has been to replace or restore useful functions to people disabled by neuromuscular disorders,” Atai said in a press release.
The company intends to use the technology in the treatment of mental health disorders, using Psyber’s interface in combination with compounds in Atai’s portfolio.
The interface would allow patients to receive a more clear interpretation of their emotional experience from a look at their own neural activity.
The company said it plans to use Psyber’s technology to enhance pharmacological treatment by “offering personalized and novel digitally enhanced, behaviour-changing experiences that complement [patients’] medication assisted therapy.”
The Milestone Round
Core One Labs Inc. (OTC:CLABF) completed the acquisition of Ketamine Infusions Centers of Texas Inc., a clinic providing ketamine therapy. The company plans to leverage the site to develop its psychedelic treatment platform that would deploy psilocybin once it becomes legal.
Core One Labs applied to list its shares on the Nasdaq last month.
Mind Cure Health Inc. (OTCQB:MCURF) filed a provisional patent with the USPTO for its proprietary digital therapeutics tool iSTRYM.
The platform, targeted for both therapists and patients, uses data and patient feedback to improve diagnosis and treatment.
“We intend to build iSTRYM into the world's largest data repository of psychedelic experiences, backed by science and built on trust,” said Kelsey Ramsden, president and CEO of Mind Cure.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.