Lobe Sciences Signs Exclusive Deal For Psilocin Clinical Trials In Australia

Life sciences company Lobe Sciences Ltd. LOBEF and Australian contract research organization iNGENū Pty Ltd. have agreed to design and conduct three or more clinical studies testing Lobe's psilocin analogs, L-130 or L-131, under exclusive terms.

iNGENū works on a global scale, performing clinical trials for U.S., Canadian and European sponsors in Australia, where it is allowed to perform FDA registration clinical trials prior to opening an IND. 

This gives the organization the possibility to request a 43.5% government refund on research expenses, and in turn a rapid beginning of clinical trials. In this particular agreement, the company confirmed that “the Australian Federal Government's Research & Development tax incentive program will provide rebates to Lobe for up to 43.5% on eligible expenditures for Research and Development" to be conducted in the country.

Less than a month ago, Lobe Sciences filed a provisional patent covering the preparation and use of its stable psilocin proprietaries and analogs, including the ones involved in the agreement’s clinical studies, L-30 and L-31. 

L-30 targets neurological conditions such as severe anxiety, PTSD and brain traumas, while L-131 is Lobe’s drug candidate for a neurological disorder affecting children.

On their new partner, Lobe CEO Philip Young commented: "iNGENū is an industry-leading, full-service CRO providing end-to-end services for companies developing cannabinoid and psychedelic drugs. We evaluated CRO's in multiple geographies and chose iNGENu as their core values match ours and our commitment to discovering transformational therapies for multiple Central Nervous System diseases and trauma."

iNGENū CEO, Dr. Sud Agarwal, sounded equally enthusiastic. “We are impressed with their development of stable psilocin compounds which potentially offer greater dosing flexibility for multiple patient populations."

Photo courtesy of Pexels.

Posted In: CannabisNewsPenny StocksPsychedelicsContractsMarketsDr. Sud AgarwaliNGENūPhilip Young

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