The Week of

Big news out of the Psilera camp this week!

The Florida-based biotech firm, and one of our earliest portfolio companies, has received the green light to begin the second phase of its NIH-funded research into new treatments for alcohol use disorder.

Working with researchers at the University of South Florida, Psilera is developing non-hallucinogenic derivatives of psilocybin that could help reduce alcohol consumption without producing a psychedelic trip.

According to Psilera, early preclinical studies have shown promising results in reducing alcohol consumption in animals. The research is supported by the NIH's National Institute on Alcohol Abuse and Alcoholism, with Psilera anticipating its first Phase 1a human clinical trial in 2027.

You can read more about Psilera here: https://www.psilera.com/

And if you’d like to get a closer look at Psilera, or want to learn more about JLS Fund’s investment in the company, feel free to reach out at info@jls.fund.

Now let’s get to some other news…

Genentech signed a deal worth up to $1.27 billion to develop Alector's experimental Parkinson's treatment, AL050. Under the agreement, Alector will receive $100 million upfront, with another $1.17 billion possible through milestone payments, plus royalties on future sales.

If you’re unfamiliar, AL050 is designed to help brain cells clear harmful waste that can contribute to Parkinson's disease. Alector has also developed technology to help the drug reach the brain, potentially slowing the disease rather than simply treating its symptoms. Check it out: https://substack.com/home/post/p-218929262.

Psyence BioMed announced that it has partnered with Benuvia Operations to establish U.S. manufacturing of pharmaceutical-grade ibogaine.

Benuvia operates an 83,000-square-foot, DEA-registered facility in Texas and says it holds approximately half of the nation's authorized ibogaine production quota. The partnership could help establish a reliable domestic supply of ibogaine for clinical research as the U.S. government moves forward with its first federally funded ibogaine trials. Here’s more: https://substack.com/home/post/p-219129622.

Click Therapeutics received FDA clearance for Motivista, the first prescription digital treatment specifically designed to address the negative symptoms of schizophrenia, including social withdrawal, lack of motivation, and difficulty experiencing pleasure.

Unlike traditional antipsychotic medications, which primarily treat hallucinations and delusions, Motivista uses a smartphone app to help patients build social skills, set personal goals, and manage everyday activities. It's designed to work alongside existing medications, not replace them. The approval introduces a new treatment option for symptoms that have historically been difficult to manage with medication alone. Check it out: https://substack.com/home/post/p-219152965.

Did you know that ultraprocessed foods alter insulin and brain reward responses?

Researchers at Virginia Tech discovered that ultra-processed foods can affect the brain and body differently than whole foods, even when both contain nearly identical amounts of calories, fat, protein, carbohydrates, and salt.

In a study involving 57 adults, ultra-processed meals triggered larger insulin spikes, kept blood sugar elevated longer, and changed activity in brain regions involved in pleasure, motivation, and food cravings.

The findings suggest that how food is processed may influence our metabolism and brain activity independently of its nutritional content. The study was relatively small and examined short-term effects, but it raises some interesting questions about what ultra-processed foods are doing to our brains. Here’s more: https://www.nature.com/articles/s42255-026-01619-4.