This is Why 2021 Could be Another Big Year for Psychedelics

Psychedelics such as psilocybin could soon revolutionize the $2.5 trillion mental health market. All thanks to some big catalysts. For one, “Traditional medicines that are treating things like depression, addiction and anxiety really are seeking to numb and mask the issues that surround these illnesses. So, things like Xanax, while they might make you feel better, they can also be highly addictive and are not dealing with the underlying problem,” MindMed’s co-founder and co-CEO JR Rahn told Yahoo.

Two, there’s hope the U.S. could even see even more legalization after Oregon, Oakland and Santa Cruz legalized the use of psilocybin. Three, Canada, which allowed palliative health patients to use psilocybin to relieve end of life suffering will now allow some professionals to use the drug to help develop therapies for future use. In fact, “Health Canada says it granted 16 exemptions to a selection of nurses, doctors, therapists and social workers, allowing them to possess and use psilocybin for personal training without fear of prosecution under the country’s drug laws,” as reported by CBC. These are just some of the major catalysts that could drive even more interest in psychedelics in New Year 2021. As the story gains momentum, some of the top companies to watch include

Nova Mentis Life Science Corp.

(CSE:NOVA)(OTCPK:LIBFF),

Mind Medicine Inc.

(NEO:MMED)(OTC:MMEDF),

COMPASS Pathways

(NASDAQ:CMPS),

Cybin Inc.

(NEO:CYBN)(OTC:CLXPF) and

Tryp Therapeutics Inc.

(CSE:TRYP).


Nova Mentis Life Science Corp.

(CSE:NOVA)(OTCPK:LIBFF)

BREAKING NEWS

:

Nova Mentis Life Science Corp.

is pleased to announce that it has appointed Dr. Kyle H. Ambert, PhD to its Scientific Advisory Board, effective immediately. Dr. Ambert has also agreed to become a consultant to NOVA and will assist the Company in designing preclinical and clinical autism spectrum disorder (ASD) studies and analyzing their results.

Dr. Ambert is currently Director of Data Science at Nike, Inc. and has extensive experience in data analytics, machine learning, artificial intelligence and applied analytics. His previous experience includes postings with the National Library of Medicine and Intel Corp. Dr. Ambert holds a PhD in Biomedical Informatics from Oregon Health & Science University.

Dr. Marvin S. Hausman MD, Chairman of the NOVA Scientific Advisory Board commented, “I am extremely pleased to welcome Dr. Ambert to our team. His enviable expertise in artificial intelligence and data science will be invaluable as we continue our research into autism spectrum disorder (ASD). Dr. Ambert’s knowledge of applied machine learning and deep learning represents a major addition to the Company as we develop the novel, proprietary ‘Pilz ASD Correlate’, a statistically objective biomarker program to measure psychedelic treatment response.”

As drug design and discovery becomes more personalized, machine learning methods are poised to become a central component of the pharmaceutical development workflow. “I am honored to be asked to partner with a company doing such important work. By introducing machine learning and advanced analytics into NOVA’s approach, I am confident we will contribute ground-breaking discoveries to improve the lives of ASD patients,” said Dr. Ambert.


Other related developments from around the markets include:


Mind Medicine Inc.

(NEO:MMED)(OTC:MMEDF) is pleased to announce that further to its

previously announced offering

on December 14 and December 15, 2020, it has filed a preliminary short form prospectus with the securities commissions or similar authorities in each province of Canada, other than Québec. Pursuant to the underwriting agreement among the Company, Canaccord Genuity Corp. and Eight Capital, the Underwriters have agreed to purchase 18,200,000 units of the Company, on a “bought deal” basis, at a price per Unit of CAD$4.40 for gross proceeds of CAD$80,080,000.


COMPASS Pathways

(NASDAQ:CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, reported its

financial results for the third quarter of 2020

and gave an update on recent progress across its business. George Goldsmith, Chairman, CEO and Co-founder, COMPASS Pathways, said, “This has been a significant quarter, with an IPO that gives us the funds needed to advance our mission and transform mental health care. Recent hires for the company build further important expertise within our strong leadership team, including in data science and digital health, which will be core to the future of mental health care. We remain fully focused on execution of our phase IIb trial investigating our COMP360 psilocybin therapy for treatment-resistant depression and, with scientific partners in our recently established Drug Discovery Center, are also evaluating the potential of early stage compounds to address mental health challenges.”


Cybin Inc.

(NEO:CYBN)(OTC:CLXPF), a life sciences company focused on psychedelic pharmaceutical therapies, is pleased to announce that it has

closed on its acquisition of 100% of the shares in Adelia Therapeutics Inc

. up to CDN$20,161,575 (approximately USD$15.75 million). Adelia is an innovative biopharmaceutical company committed to addressing unmet mental health needs through developing proprietary psychedelic therapeutics with improved dosing efficacy and therapeutic indices. Adelia’s leadership team brings a wealth of clinical development experience. Adelia’s team have previously worked with pharmaceutical companies including Johnson & Johnson, GlaxoSmithKline, Sanofi, Roche, Pfizer and Eli Lilly, and maintain academic research affiliations, including with the MIT, Harvard, Stanford, Yale, and Northeastern University.


Tryp Therapeutics Inc.

(CSE:TRYP) a pharmaceutical company focused on identifying and developing compounds for diseases with high unmet medical needs, announced it has

appointed Dr. Peter Guzzo as its Vice President of Drug Development

. Dr. Guzzo has devoted his entire 25-year professional career to innovative therapeutics for poorly treated diseases. He has been involved in drug discovery, clinical research, and executive level roles. He has led cross-functional teams that delivered eleven innovative drugs into clinical development. His experience collaborating with pharma, biotech, academic institutions and contract research organizations will help us execute and push forward our drug development pipeline. Dr. Guzzo has broad knowledge in several therapeutic indications including central nervous system diseases, metabolic disorders and oncology, intellectual property creation, and building entrepreneurial teams. He is an inventor on 43 patents, co-authored 47 scientific publications, and presented 28 invited lectures.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Nova Mentis Life Science Corp. by a third party. We own ZERO shares of Nova Mentis Life Science Corp.


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