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Psyched: Compass' New Patents, Cure Extends DEA License, Andrew Yang Supports Psilocybin in NYC

March 26, 2021 1:49 pm
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Psyched: Compass' New Patents, Cure Extends DEA License, Andrew Yang Supports Psilocybin in NYC

Compass Secures 2 New Patents

In the midst of a public debate about the right use of patents in the psychedelics sector, Compass Pathways (NASDAQ:CMPS) was granted two new patents by the US Patent and Trademark Office.

Compass came under scrutiny last month for applying to a series of patents for methods which were standard practice in psychedelics-assisted psychotherapy decades before the company was founded.

On Tuesday, Compass received recognition for one patent, to the rights to crystalline psilocybin formulations and methods using those formulations for the treatment of major depressive disorder.

Another patent, granted one week earlier, covers oral dosage forms of crystalline psilocybin and methods of treating major depressive disorder.

“These patents are a critical milestone in our efforts to establish a new evidence-based option to help patients with depression in the US,” said George Goldsmith CEO and co-founder of Compass. "Through these grants, the USPTO has recognised our innovations. These decisions enable us to continue to do the highest quality clinical research and bring potentially life-changing care to patients who might benefit from this therapy."

The patents announced by Compass in this occasion are not the main focus of controversial claims against the company, which include claiming patents on soft furniture, accompanying music and basic bedside accompaniment from therapists.

Cybin Is Pushing 2 New Molecules Towards Clinical Trials

Cybin (OTCQB:CLXPF), a developer of second generation psychedelic molecules, completed a new pre-clinical trial, defining the company’s decision to settle on two drug candidates for R&D.

CYB003 and CYB004 are two proprietary molecules that Cybin is researching through studies that will eventually allow the application of Investigational New Drug status with the FDA, a necessary step to begin clinical trials.

While the company has not disclosed the specific qualities of these new compounds, it has stated that its “development thesis is based on the need to create commercially viable drugs to meet the needs of patients and to easily integrate into the medical ecosystem without the need of overly disrupting a practitioner and/or a patient’s busy schedule.”

Andrew Yang Supports Psilocybin Legalization In New York

Former presidential candidate Andrew Yang expressed his position on the decriminalization of psilocybin in New York City. Yang is currently a declared candidate for the 2021 New York City mayoral election, to be held in June of this year.

“I’m for legalization of psilocybin mushrooms, and I’m open to the public policy impact of legalizing other substances,” the candidate said in a recent live forum, as per Marijuana Moment.

Yang also favors “total decriminalization of cannabis and marijuana,” and is open to the public policy impact of legalizing other substances, including opioids.

Cure Lands DEA License For Psychedelics

CURE Pharmaceutical Holding Corp. (OTCQB:CURR), a company researching various drug delivery methods for psychoactive molecules, extended its Schedule 1 DEA license to include several psychedelic compounds.

The company’s existing DEA license, which until now covered the manufacture of cannabinoid-based pharmaceuticals, now includes LSD, MDMA, and psilocybin for the treatment of mental health conditions. 

“This license will allow us to build out our previously announced psychedelics program safely and legally, expanding our specialty pharmaceutical pipeline and opening new doors to research advancement,” said CURE Chief Executive Rob Davidson.


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