This Week in Psychedelics

Canada approves Numinus Wellness application to complete psychedelic therapy to treat depression. JLS goes to World Economic Forum in Davos.

May 20, 2022

This Week...

Numinus Wellness (TSX: NUMI) announced that Health Canada approved the company’s application to complete psychedelic-assisted therapy using psilocybin to treat an applicant with treatment-resistant depression.

This is Numinus' first psilocybin-assisted therapy treatment outside of ongoing clinical trials, and among the first to use of this regulatory mechanism through Health Canada's Special Access Program ("SAP"), which was amended January 5th, 2022 to include access to psychedelic compounds on a case-by-case basis. Here’s more:

MIndMed (NASDAQ: MNMD) (NEO: MMED) announced topline results from its Phase 1 placebo-controlled trial designed to assess the safety, tolerability, pharmacokinetics and neurocognitive effects of MM-110, its ibogaine-based treatment for opioid withdrawal.

The results showed favorable safety and tolerability, support the advancement of MM-110, and have guided the Phase 2a dose, schedule, and design in individuals undergoing supervised opioid withdrawal. Check it out:

Davos got a lot of new interest this week after folks found out that this year there will be a series on psychedelics at the World Economic Forum. The series will feature industry executives, drug development experts, clinicians, nonprofit organizations, advocates and influencers from the psychedelics space.  

Our own Simeon Schnapper will also be there, representing JLS Fund. Here’s more:

Did You Know?

Did you know that a psychedelic called STP was popular in San Francisco for less than a year?

The drug 2,5-Dimethoxy-4-methylamphetamine, or DOM, was first synthesized in 1963 by chemist Alexander Shulgin, who would later go on to introduce MDMA to the psychiatric community in the late-70s. In the spring of 1967, DOM began making the rounds in SF’s Haight-Ashbury District, with unfortunate results.

Renamed STP for Serenity, Tranquility and Peace, most users experienced effects that were anything but. Reports of “STP freakouts” soon appeared, and administering thorazine, the standard treatment for taking too much LSD, actually made things worse.

The problem wasn’t even the drug itself, which at low doses produced euphoria. Apparently, the dosage of the pills was just way too high—because the chemists who made them put a decimal point in the wrong place.

You can read more about the incident here.