Mental health is on the decline all over the world. At the moment, nearly 264 million people are struggling with depression, for example. To help alleviate the symptoms of depression, many turn to anti-depressants such as SSRIs (selective serotonin reuptake inhibitors). Problem is — SSRIs aren’t always useful, focusing more on symptom suppression than root cause. Of course, that needs to change. That being said, the pharmaceutical industry is overdue for a massive, game-changing revolution when it comes to mental health care. Fortunately, the revolution has already begun with the study of psilocybin. That could be beneficial for related companies such as MYND Life Sciences Inc. (CSE:MYND), Cybin Inc. (NEO:CYBN)(OTC:CLXPF), MindMed (NASDAQ:MNMD)(NEO:NMED), Compass Pathways (NASDAQ:CMPS), and Field Trip Health Ltd. (CSE:FTRP)(OTC:FTRPF). Better, a new study by Yale “supports the findings of previous laboratory experiments that indicate psilocybin and the aesthetic ketamine – both popular recreational drugs – can decrease depression,” as reported by Yale University.
Look at MYND Life Sciences Inc., for example
MYND Life Science Inc. provided a corporate update on its operations and progress on its strategic initiatives to the end of Q2 2021.
Dr. Wilfred Jefferies, Chief Science Officer of MYND Life Sciences stated that “MYND’s investigational medical pipeline shows great promise, and we intend to use a three-pronged approach in the business:
1) Objectively diagnose patients with depression and monitor improvement,
2) Develop a solution to alleviate and reverse depression, and
3) Create vaccines for diseases of the central nervous system.”
MYND is pursing the development of a multifaceted suite of Central Nervous System (CNS) disorder treatment protocols and assessment tools that include:
– Diagnostic biomarkers
– Treatment of medical conditions with specific psilocybin and other psychedelic analogs
– Vaccines and immunotherapeutics
“We accept that Psychedelics and Psilocybin benefit psychiatric illnesses such as Major Depressive Disorder (MDD) and other diseases. It is our goal and responsibility to move beyond this research and translate the findings and related technologies into mainstream medical practice,” said MYND CEO, Dr. Lyle Oberg. “Over the past 10 years, our Scientific Team has made great strides in identifying and examining the pathways involved in MDD and it is now time to use this knowledge to help the 300,000,000 + people suffering with psychiatric disease.”
“A key difference between MYND and other psychedelic companies is that we are creating intellectual property by reducing to practice the bio-active forms of psychedelics to particular medical conditions. Applying psychedelic analogs to other medical conditions not currently being targeted for psychedelic analog therapies. Creating unique biomarkers for diagnosing and monitoring MDD, and responses to treatment of MDD. Finally, MYND is applying novel vaccine and immunotherapeutic approaches to disease of the central nervous system. In this way, we plan to differentiate ourselves with a focus on building long-term value for our shareholders.” continued CEO Dr. Lyle Oberg.
Intellectual Property
MYND has expanded its Intellectual Property holdings with four separate patent applications, including:
– A diagnostic biomarker with the potential to diagnose and monitor MDD and other diseases.
– Modulation of key pathways in the treatment of MDD utilizing Psilocybin analogs.
– Methods for regressing or delaying Alzheimer’s disease and related forms of dementia.
– Modulation of the key pathways in the in the treatment of inflammatory diseases utilizing Psilocybin analogs.
Strategic Partnerships:
1) University of British Columbia
The Company announced the signing of a Collaborative Research Agreement (the with the University of British Columbia on February 2, 2021 focusing on Major Depressive Disorder, often referred to as depression. Results are to be expected as early as Q3-Q4 of 2021.
2) SISCAPA Assay Technologies
The Company’s agreement with SISCAPA Assay Technologies, announced June 1, 2021 will help enable MYND’s goal of more precisely diagnosing and monitoring the treatment regime for patients with Major Depressive Disorder (MDD) and other diseases. Stable Isotope Standards and Capture by Anti-Peptide Antibodies (SISCAPA) is a patented sample preparation methods platform for diagnostics that improves the performance of mass spectrometry (MS) for measurement of pre-selected protein targets. It is a method that will assist our research team with our proprietary panel of biomarkers aimed at diagnosing and monitoring Major Depressive Disorder. MYND aims to commercialize this panel by Q1 of 2022.
3) Eyam Vaccines
MYND entered into a Letter of Intent with Eyam Vaccines, Vancouver British Columbia to pursue the development of vaccines and immunotherapeutics that have the ability to prevent neurological disorders.
Clinical Trial Updates:
On May 15, 2021, MYND made the key hire of Iryna Saranchova, MD, PhD as its Chief Clinical Officer whose role is to lead the implementation of the clinical trials from design through to evaluation. MYND has begun planning for clinical trials to start in Q1 of 2022, which includes several areas:
1) Addressing therapeutic impact of psilocybin and Psilocybin Analogs on depression and “Brain Fog” in patients with proven Covid 19.
2) A trial to correlate the MYND Biomarker panel with the diagnosis and monitoring of MDD.
3) Preparing and submission of a joint application with Monash University researchers, located in Melbourne Australia, for an Adaptive Trial utilizing Psilocybin in the treatment of depression, sponsored by the Government of Australia. This trial has a submission deadline of July 15, 2021.
For more information and to subscribe to the Company’s mailing list, please visit https://myndsciences.com/contact/
Other related developments from around the markets include:
Cybin Inc. announced that it has entered into an exclusive research and development collaboration agreement with TMS NeuroHealth Centers Inc., a wholly-owned subsidiary of Greenbrook TMS Inc. Greenbrook operates 129 outpatient mental health service centers in the United States. Pursuant to the Collaboration Agreement, Cybin and Greenbrook will work together to establish Mental Health Centers of Excellence for the purpose of facilitating research and development of innovative psychedelic compound-based therapeutics for patients suffering from depression.
MindMed announced the addition of Dr. Maurizio Fava, a world-leading expert in psychiatry and psychiatric clinical trials from Massachusetts General Hospital and the Harvard Medical School to the Company’s Scientific Advisory Board. Dr. Fava obtained his MD from the University of Padova School of Medicine where he completed residency training in endocrinology. Thereafter, he completed residency training in psychiatry at Massachusetts General Hospital where he founded and was Director of the hospital’s Depression Clinical and Research Program (DCRP) from 1990 to 2014. In 2007, Dr. Fava founded the Massachusetts General Hospital’s Psychiatry Clinical Trials Network and Institute (CTNI), the first academic contract research organization specialized in planning and coordination of multi-center clinical trials in psychiatry; he currently acts as their Executive Director.
Compass Pathways announced that it has completed psilocybin administration to the target 216 patients in its phase IIb clinical trial of COMP360 psilocybin therapy for treatment-resistant depression. This is the world’s largest psilocybin therapy trial to date. The trial is a randomized controlled, double-blinded, dose-ranging study, investigating the safety and efficacy of psilocybin therapy and comparing a 25mg and 10mg dose of COMP360 psilocybin with a 1mg dose, administered in conjunction with psychological support from specially trained therapists. The 216th patient in the trial had their psilocybin session late last week. Although the target of 216 patients has been achieved and enrolment has now been closed, all enrolled patients who are in the run-in period and have not yet had their psilocybin therapy session, will remain in the trial. This means the number of patients included in the final analysis will be approximately 230, with all psilocybin sessions expected to be completed by 8 July.
Field Trip Health Ltd., a leader in the development and delivery of psychedelic therapies, reported its third fiscal quarter results for the three and nine months ended December 31, 2020. Joseph del Moral, Field Trip’s CEO, said, “We are making rapid progress maximizing value for shareholders by building out Field Trip’s complementary business lines that focus on both the development and the delivery of psychedelic therapies. Our deeply integrated platform combines drug and product developments, psychedelic-enhanced therapy and technology-enabled virtual care solutions. All the components work in concert with each other to increase our understanding of the therapeutic value of psychedelics and to deliver them to patients that need them most. With our early-mover advantage, a strong cash position, and a strong and growing reputation as thought leaders in the industry, we are well-positioned to propel our growth in the emerging market of psychedelic therapy.”
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