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Field Trip Health Ltd. (NASDAQ:FTRP), a biotech and care delivery company in the psychedelics space, has been granted its first patent by the U.S. Patent and Trademark Office.
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The patent covers claims around FT-104, the company’s flagship proprietary psychedelic molecule, for composition of matter, use and manufacturing of the compound and similar analogs until 2040.
What is FT-104?
“FT-104 seeks to provide for a shorter, consistent and more convenient 2-3 hour psychoactive experience with subjective effects and clinical efficacy of a classical serotonin psychedelic, like psilocybin,” said Field Trip’s chief scientific officer Dr. Nathan Bryson.
Dubbed “psychedelics 2.0,” these novel proprietary compounds are derived from so-called classic psychedelics, like LSD or psilocybin, to provide improved effects and reduced risk profiles.
“A shorter duration could make FT-104 a more convenient psychedelic drug to treat mental health conditions like treatment-resistant depression and postpartum depression,” Bryson added.
While the first wave of FDA approvals are expected to revolve around known psychedelics compounds without patent protection, a second wave of approvals is expected to follow, regulating the medical use of proprietary compounds like FT-104 and others.
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Related: Five Companies Developing Second Generation Psychedelics For Mental Health
Patent Protection
Field Trip is looking to expand its patent protection on FT-104 internationally, by submitting a patent application under the Patent Cooperation Treaty. If approved, the international filing would grant protection in over 150 countries, according to the company.
“The US patent grant strengthens IP protection for our lead drug candidate FT-104 for the global pharmaceutical market,” said Joseph del Moral, CEO of Field Trip.
“We are continuing to strengthen patent protections for FT-104 and its uses across the globe, as we advance our Phase 1 clinical trial and continue to develop other molecules in our pipeline,” added del Moral.
Interview With Field Trip
Benzigna interviewed Ronan Levy, Field Trip's Executive Chairman at the 2022 edition of South By South West. The exec. discussed FT-104 alogn with other company verticals.
Chec out the video interview:
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.