Welcome to the News You Might Have Missed, a weekly roundup of psychedelic medicine news to help you catch up and stay informed. It was a busy week with lots of news, have a look and see you next week for another update.
Transcend Therapeutics Announces $40 million Series A Funding
The announcement was welcome news for psychedelic investors. Transcend Therapeutics, a relatively new, privately-owner, biotech firm, has announced a Series A funding round of $40 million.
Led by Alpha Wave Global and Integrated Investment Partners, this funding round will enable Transcend to launch multiple clinical trials, including a phase II study, with its next-generation psychoactive compound. Transcend has raised nearly $42 million to date.
Compass Pathways’ New Psilocybin For Depression Trial
On February 17th, Compass Pathways (Nasdaq: CMPS) registered a new Phase 2 clinical trial attempting to treat Major Depressive Disorder using psilocybin-assisted therapy.
This trial expands their potential patient base and perhaps the potential likelihood of FDA approval. Read our explainer here.
Lucy Scientific Discovery Rings Nasdaq Closing Bell in Celebration of its IPO
“We are excited to celebrate this victory at Nasdaq’s iconic bell ringing ceremony, as today marks an important milestone for the Company,” said Chris McElvany, the Company’s CEO. “We are pleased to celebrate many months of hard work and team effort that led to the successful completion of our IPO. Seeing Lucy, a pioneer in psychedelics manufacturing, take the next step in its development by becoming the first psychedelics manufacturing company to be listed on NASDAQ is a huge accomplishment.
John Oliver Covers Psychedelics on Last Week Tonight
Emmy-award winning talk show host John Oliver has devoted his entire segment to psychedelic therapy.
The show covered a range of psychedelic topics, from the history of psychedelic research, the War on Drugs, the current renaissance and its impressive trial results, stories of patient healing, and even patent issues.
Awakn Life Sciences Signs its First Licensing Partnership Agreement in Europe
Awakn will provide the Portuguese Partner with an exclusive licence for use of its clinical protocols for the treatment of AUD, Anxiety, Depression, Eating Disorders and PTSD in Portugal for a period of 10 years. Awakn will train the Portuguese Partner’s clinicians in the delivery of these protocols and will provide ongoing strategic, operational, risk management, and marketing support.
PharmaDrug Collaborates with PharmaTher for Development of DMT Transdermal Patch
Daniel Cohen, CEO and Chairman of PharmaDrug, commented, “We are excited to commence a collaboration with PharmaTher, a leader in microneedle patch delivery of psychedelics. We believe our combined programs and expertise in drug delivery and pharmacology, specifically relating to DMT, set the stage for the potential development of new treatment options for mental health conditions.”