Issue 179

Major deals continue positive trajectory for psychedelics in 2024

2024 set off to a strong start for psychedelic medicines with several watershed moments that are setting the stage for the sector’s acceleration – and the positive developments for the industry are continuing.

This week saw one of the globe’s top five biggest pharmaceutical companies – AbbVie – enter the psychedelics market, while Enveric and MindBio signed a $66.5 million deal.

AbbVie and Gilgamesh have stated they will be working together to discover and deliver next-generation psychedelics for mental health conditions such as anxiety, depression, and PTSD, as well as addiction, while Enveric is out-licensing its novel psilocin prodrug candidate for mental health disorders to MindBio.

PSYCHEDELICS COULD TREAT SEVERE CHRONIC PAIN

Vox reports that decades of citizen science are finally translating into clinical trials for psychedelic pain treatments.

“Most clinical trials in today’s psychedelic “hype bubble” prioritize mental health conditions, which will likely lead to MDMA being approved by the FDA later this year for PTSD treatment.

“The downside of that singular focus, however, is that those suffering from chronic pain have been left to turn to the psychedelic underground for support,” writes the publication.

LYKOS MDMA RESEARCH EVIDENCE COMES UNDER SCRUTINY

As MDMA for PTSD research undergoes FDA evaluation, questions have been raised over the evidence of the therapy’s effectiveness in an ICER report.

NPR reports that questions about the research are threatening to upset the drug’s final stretch to market, with the report finding “substantial concerns about the validity of the results” of the MDMA clinical trials.

“Researchers and clinicians involved in the trials have pushed back strongly against the accusations that their clinical data isn’t sound,” the publication states.

SCIENCE AND RESEARCH

Researchers have shed light on how some psychedelic drugs bind to and activate serotonin receptors.

New research suggests that modified 5-MeO-DMT could help treat depression and anxiety.

REGULATION AND LEGISLATION

A new coalition has launched in California to support a bill aiming to legalise psychedelics for therapeutic use.

Vermont has passed a bill that would enable a task force to study the effectiveness of psychedelic therapies.

BUSINESS AND INVESTMENT

Compass Pathways has entered a research collaboration with Mindful Health Solutions to inform the development of a scalable and cost-effective delivery model for its COMP360 psilocybin treatment.

PharmAla has launched a prescriber’s portal for medical professionals focused on MDMA therapy.

Optimi Health has received an export permit from Health Canada to ship its MDMA To Tel Aviv University’s Institute for Psychedelic Research for research purposes.

An Amazonian chief at the UN intends to combat “biopiracy“, including those seeking to research ayahuasca.

ARTICLES OF INTEREST

Improving mental health globally demands an equitable, evidence-based, and holistic approach that encompasses the specific needs of children and young people, says UNICEF’s Zeinab Hijazi.

The World Economic Forum writes that a report by CAPI has found that in recent years philanthropy has been empowering India’s mental health sector, and that now, a collaborative approach is needed.