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'Psyched': MAPS Scores $30M, Mydecine Gets Psilocybin License, Psychedelic Science Sold

August 21, 2020 3:51 pm
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MAPS Gets $30M In Funds To Conclude MDMA Research

The Multidisciplinary Association for Psychedelic Studies recently completed a fundraising of $30 million. The funds will help MAPS finish the NGO’s ongoing research for MDMA-assisted psychotherapy in the treatment of post-traumatic stress disorder.

The campaign, labeled “The Capstone Challenge”, was launched in June of this year with the purpose of raising $10 million from independent donors.

Together with $10 million in hand and another $10 million that had been committed to the cause by other benefactors, MAPS managed to complete the necessary amount needed to finish the research and make the treatment of MDMA-assisted psychotherapy available for patients.

The campaign was successful thanks to donations from over 2,500 individual donors, that ranged from one dollar to $5 million.

MAPS will now move to execute the last part of its phase 3 clinical trials for MDMA, which will be conducted in the U.S., Canada and Israel.

Earlier this year the FDA allowed MAPS to finish the first part of the phase 3 trials early, due to very positive results.

“We could not have completed Capstone without PFSC and Tim Ferris,” said Rick Doblin, founder of MAPS, in a press conference on Thursday.

The PFSC, or Psychedelic Science Funders Collaborative, is another NGO which assisted in gathering the funds, along with author/podcaster Tim Ferriss.

Ferris said that after finding out about MAPS, he came to the conclusion that MDMA-assisted psychotherapy will pave the way for redefining psychiatric treatment using compounds like psychedelics.

MAPS will now complete the research and present the scientific evidence gathered to the FDA. The organization is expecting MDMA-assisted treatment to be available for patients by 2022.

Mydecine Announces License To Produce and Sell Naturally-Extracted Psilocybin

On Wednesday, Mydecine Innovations Group (CSE:MYCO) announced it has begun to exercise its GMP capabilities under a special license to legally produce, transfer, sell, and export pharmaceutical-grade psilocybin.

The psilocybin is naturally derived from whole-mushroom extraction.

The company claims to be the first organization to achieve this goal, since previous similar licenses only exist for synthetically-produced psilocybin. 

Extracting natural psilocybin from mushrooms could potentially be more cost-effective and more easily scalable to large-scale production.

According to Josh Bartch, CEO and Director of Mydecine, the company will leverage its ability to produce purified pharmaceutical-grade psilocybin extracts and export its finished byproducts to its various research partners throughout the world, such as the Imperial College of London and Johns Hopkins University.  

ATAI and IntelGenx Strike Deal to Develop Polymeric Film as Delivery Method For Psychedelics

Psychedelics company ATAI Life Sciences has inked an agreement with IntelGenx Corp. (TSXV:IGX) (OTCQB:IGXT), a producer of pharmaceutical films, for the development of new psychedelic formulations based on polymeric film technologies.

IntelGenx agreed to design a prototype for a polymeric film formulation that will be used by ATAI in future clinical research. The deal also includes terms for an exclusive license to commercialize the product globally.

"Given the breadth of the mental health crisis, it's critical that we identify the most efficient methods of delivering psychedelic medicines," said ATAI CEO Florian Brand. 

IntelGenx announced a similar collaboration with psychedelics company Cybin Corp. in early July, for the development of pharmaceutical film products for psilocybin.

Nutritional High Buys Psychedelic Science Corp., Announces Research in Thailand

Cannabis company Nutritional High (CSE:EAT) has completed the acquisition of Psychedelic Science Corp.

Per Green Market Report, Psychedelic Science was formed by Nutritional High and Kruzo LLC, a company that develops products and research based on peyote, a type of cactus from which the psychedelic compound mescaline is derived.

Psychedelic Science will develop health and wellness products based on psychoactive and non-psychoactive plant-based compounds. 

Research and development of new products will be conducted in association with Rangsit University in Thailand. The companies had previously announced the creation of the Psychedelic Research Institute as a partnership between Kruzo and Rangsit University.

Nutritional High announced that the university is “in the process of securing plant material” and is expected to start mescaline research soon. The company expects to work with the university in the commercial development of psychedelic cacti for clinical use in Thailand and abroad.


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