Cannabis Deals News

Welcome to Benzinga's psychedelic headlines roundup. This is our pick of must-read news items concerning the first two weeks of March 2024.

See previous edition Psychedelics Headlines: Predicting Readiness, Correcting The Hype, Good And Bad Drugs, Training Programs And More.

Research

  • The therapeutic alliance between study participants and intervention facilitators is associated with acute effects and clinical outcomes in a psilocybin-assisted therapy trial for major depressive disorder (original read.)
  • Review: Making sense of psychedelics in the CNS (original read.)
  • The effect of psilocybin on empathy and prosocial behavior: a proposed mechanism for enduring antidepressant effects (original read.)
  • Perceived attachment history predicts psychedelic experiences: A naturalistic study (original read.)
  • Psychiatric risks for worsened mental health after psychedelic use (original read.)
  • Psychedelic substitution: altered substance use patterns following psychedelic use in a global survey (original read.)
  • Diminished psychedelic returns on distress: Marital status and household size (original read.)

Tune In, Get Smart

  • Mushroom Extract Outperforms Synthetic Psilocybin in Psychiatric Therapy, by Neuroscience News (read.)
  • UN Body Reaffirms that Marijuana Legalization Violates International Treaties while Addressing Germany Cannabis Reform and U.S. Psychedelics Movement, by Marijuana Moment (read.)
  • Bioethics, Psychedelic Therapy Abuse, and the Risk of Ethics Washing, by Harvard's Petrie Flom Center (read.)
  • Psychedelic Lobbying and Regulatory Capture, by Vincent Joralemon for Petrie Flom (read.)
  • Frank Herbert's Magic Mushrooms and the Psychedelic Science Behind Dune, by The Telegraph (read.)
  • AA Founder Bill Wilson Did Not Use Psychedelics to Get Sober, by the Chemical Collective (read.)
  • Psychedelic Legacies of American Religion: A review of Psychedelic Cults and Outlaw Churches by Mike Marinacci, by Psychedelic Press (read.)
  • New Mexico Is a Psychedelic Hologram of Ancient Origins and People, by DoubleBlind Mag (read.)
  • Psychedelic Therapy: Empowering Ukraine's Mental Health Frontlines, by The Dales Report (read.)
  • Ketamine Clinics Diverge from APA Recommendations, by Medpage Today (read.)
  • China's Emerging Psychedelic Scene Looks a Lot Like Silicon Valley, by Vox (read.)
  • Navigating Legal Clarity on Ayahuasca in Portugal, by The International Center for Ethnobotanical Education, Research and Service (ICEERS) (read.)
  • Cocaine Use Doubles in NZ: ‘A Big Change in a Short Space of Time’, by RNZ (read.)
  • ‘In a Way, Stigma is the Leading Cause of Death': The Radical Plan to Tackle British Columbia's Overdose Epidemic by The Guardian (read.)
  • "The Tao of the Wisdom Warrior" – The McKenna Academy's podcast with Tom Pinkson (listen.)
  • New podcast by Plantscendence hosted by filmmaker Jon Reiss is out, with James Fadiman featuring within the first episodes (listen.) 
  • Opioid scientist at Johns Hopkins Medicine and Maryland Opioid Research Kelly Dunn will speak at nonprofit Innovations for Substance Use Disorders next webinar on March 21 (register.)
  • UC Berkeley Center for the Science of Psychedelics (UC-BCSP) is hosting an online event on contemporary psychedelic research on March 27 (register.)
  • Music for Psychedelic Integration with Jon Hopkins, Dr. Rosalind Watts and the Acer Community is taking place online April 4 (register.)
  • MAPS is celebrating its 38th anniversary on April 8 with a total solar eclipse at the Texas Eclipse 2024 (details.)
  • The Boston Psychoanalytic Society and Institute is launching a course on The Role of Psychoanalysis in Psychedelic Assisted Psychotherapy, starting April 9 (details.) 
  • UK nonprofit Drug Science's Women in Psychedelics online webinar is taking place April 11 (register.)
  • Livestream tickets for Breaking Convention's 2024 edition taking place April 20 are available (details.)
  • Chacruna Institute's Annual Spring Conference on Plant Medicines & Psychedelic Science will take place in San Francisco's Brava Theater on April 27-28 (details.)
  • Applications are open for Harvard Law School Center's three-day Psychedelics Bootcamp 2024 on legal, ethical and policy issues surrounding psychedelics in medicine and society until March 31 (details.)
  • Applications are open for the 2024-2025 Certificate in Psychedelic-Assisted Therapies and Research at California Institute of Integral Studies (CIIS) until April 22, scholarships available (details.)
  • UK's Leeds Beckett University is conducting a survey on experienced deep personal transformation/profound change in worldview as a result of engaging with self-development via meditation, psychedelics or other transpersonal practices (contact.) 

Panorama Pulse

  • Clearmind Medicine (NASDAQ:CMND) obtained clearance for its psychedelic-based alcoholism clinical trial in Israel, and received approval for a voluntary delisting of its common shares from the CSE.
  • atai Life Sciences (NASDAQ:ATAI) announced the first participant was dosed in its Phase 1b trial of VLS-01.
  • BetterLife's (OTCQB:BETRF) 2-Bromo-LSD for treatment of depression was highlighted by Carleton University in a recent article.
  • Numinus Wellness (OTC:NUMIF) provided a corporate update.
  • Enveric Biosciences (NASDAQ:ENVB) announced new patent issuances protecting multiple assets covered by non-binding term sheets.
  • FSD Pharma (NASDAQ:HUGE) submitted a Phase 1b clinical trial application to the Ethics Committee for its proprietary beverage unbuzzd, and presented positive results on its first clinical study of Lucid-21-302 (Lucid-MS) at the ACTRIMS forum.
  • Canadian biotech Apex Labs filed for a U.S. patent protecting its psychedelic drug delivery system.
  • Beckley Waves celebrates a year of milestones including $3.3 million in new funding, 200 retreat participants, the inaugural cohort of therapist training and the acquisition of ketamine therapy provider Nue Life.
  • Psilocybin producer Rose Hill is paving the way with innovative geo-thermal cultivation enhancements in Jamaica.
  • Optimi Health’s (OTC:OPTHF) psilocybin cultivation and analytical lab was showcased at Growing Exposed (Season 4, Ep. 4).
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07:20pm ET03/15/2024

Clinical-stage neuroscience company Gilgamesh Pharmaceuticals has been awarded a multi-year $14 million grant from the National Institute on Drug Abuse (NIDA) to develop GM-3009, a novel, reportedly cardiac-safe ibogaine analog for the treatment of substance use disorders. 

As recently reported in the York Times, the plant-derived psychoactive compound ibogaine holds accumulated data from trials and case reports that point to its robust efficacy as a treatment for substance use disorders. 

(See 2024 Stanford study on ibogaine therapy showing promising outcomes for veterans with trauma brain injury.)

Nonetheless, ibogaine's pharmaceutical development has been hindered by its significant cardiovascular toxicity. 

This is where the federal grant comes in by providing funding to support IND-enabling toxicology studies, GMP manufacturing and Phase 1/1b clinical trials in healthy volunteers and Opioid Use Disorder (OUD) patients for GM-3009. 

Potential Impact

In the developers’ words, "GM-3009 represents a potential pivotal advance in the fight against the opioid epidemic, which claimed the lives of more than 100,000 Americans in 2023, as a rapid-acting, effective, durable, and safe treatment." 

Gilgamesh’s novel approach is believed to mitigate the known cardiovascular risks of ibogaine, while potentially increasing its efficacy to the point where it may transform OUD treatment.

The planned clinical work aims to confirm that GM-3009 eliminates the cardiovascular risks associated with ibogaine and to show proof-of-concept efficacy in attenuating symptoms associated with OUD. 

Following completion of the funded development, GM-3009 would be set to enter larger Phase 2 efficacy studies.

Gilgamesh CEO Jonathan Sporn views the NIDA grant as "an important endorsement of the company's scientific rigor and commitment to addressing one of the most pressing public health crises of our time." 

Sporn says that by funding the early-stage studies, the federal agency "is facilitating the translation of innovative scientific research into tangible treatments that can significantly impact public health.”

Gilgamesh's Work

GM-3009 is part of a library of reportedly 200+ ibogaine analogs from multiple scaffolds developed by Gilgamesh founders Andrew Kruegel and Dalibor Sames, Professor of Chemistry at Columbia University, and licensed from Columbia.

As a clinical-stage biotech developing innovative new chemical entities (NCEs) that target the root causes of neurological diseases, Gilgamesh's compounds aim to move away from symptom management and toward rapid-acting and long-lasting therapies. Its designed best-in-class NCEs act through proven mechanisms, which are optimized for safety, efficacy and patient access. 

The company's two lead clinical programs, GM-1020 and GM-2505 have begun Phase 2 studies in Major Depressive Disorder (MDD.)

The company’s goal is to move toward a new era in addiction treatment marked by safer, more effective and scientifically validated therapies.

Photo courtesy of Unsplash

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07:09pm ET03/15/2024
C21 Investments Inc. announced on Friday that its wholly-owned Nevada subsidiary, Silver State Relief, LLC, is buying Deep Roots Harvest, Inc. in a $3.5 million deal. Simultaneously, the company announced a non-brokered private placement of a principal amount of CA$1,000 ($740.939) secured convertible debenture units of the company for aggregate gross proceeds of up to CA$4 million. The proceeds will fund the deal to acquire the Nevada-based dispensary.
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02:05pm ET03/15/2024
Cannabis retail giant High Tide Inc. is expanding its international brand portfolio through the acquisition of the Queen of Bud brand. The Calgary, Alberta-based said on Friday that has entered into a definitive agreement under which it agreed to acquire all IP, including trademarks and other assets of Queen of Bud. The deal is an arm's length transaction and is expected to close in the coming weeks. The consideration for the assets acquired will be $1 million. The sum includes a cash payment of $100,000 with the remainder paid in common shares of High Tide. In addition, Queen of Bud's founder and CEO, Ashley Newman, will take the role of global brand ambassador, as part of the deal.
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01:54pm ET03/15/2024
Cannabis industry transforms with new financial solutions and investment opportunities from FundCanna and GCH, bridging gaps and broadening investor base.
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11:08pm ET03/14/2024
The multi-state cannabis company Jushi Holdings (OTC: JUSHF), reported a significant increase in unique patient visits in Virginia, indicating robust growth in the fourth quarter of 2023.
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09:39pm ET03/13/2024
GrowGeneration Corp. (NASDAQ: GRWG), a top provider of hydroponic and organic gardening products reported its financial results for 2023, with net revenue reaching $225.9 million, outperforming expectations.
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