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Psychedelic Business Briefs: Choose Ketamine, SABI Mind, Cybin
Choose Ketamine Completes Seed Funding Round
Choose Ketamine, a mental wellness company based in Austin, Texas, announced that it has completed a seed financing round led by Manifestations Capital, along with Notley Ventures and several other investors. Choose Ketamine offers ketamine therapy and aftercare programs through a virtual, therapeutic ecosystem to treat the root causes of mental health issues among treatment-resistant patients with depression, anxiety, and post-traumatic stress disorder (PTSD).
Choose Ketamine operates facilities in 12 states, and the recently completed seed funding round will support the organization’s expansion into all 50 states as well as the addition of more clinical providers and trained psychedelic guides, the company said in a news release.
SABI Mind Approved by Canadian Regulators to Commence Psilocybin Study to Treat AUD
SABI Mind announced last week that it has become the first clinical site in Alberta, Canada, to be approved for a study to investigate psychedelic-assisted psychotherapy for the treatment of individuals with alcohol use disorder (AUD).
The study protocol was reviewed and approved by Health Canada and the Health Research Ethics Board of Alberta (HREBA), and it is the only clinical trial of psilocybin-assisted psychotherapy to treat substance use disorder in Canada, SABI MIND said in a news release. In the United States, a recent study by scientists at New York University found that participants with alcohol use disorder who received psilocybin-assisted therapy reduced their heavy drinking by 83%. Patients in the study who received an antihistamine placebo, meanwhile reduced their heavy drinking by 51%.
Cybin Proprietary DMT Molecule Approved for In-Human Dosing Trial
Cybin, a Toronto, Ontario, Canada-based biopharmaceutical company focused on progressing psychedelics to therapeutics, announced that it has received approval from an independent ethics committee in the Netherlands to initiate the first in-human dosing of its proprietary deuterated DMT molecule CYB004 through a protocol amendment to its ongoing CYB004-E Phase 1 trial.
The trial is being conducted at the Centre for Human Drug Research in the Netherlands and is the largest Phase I DMT trial on record, according to a Cybin news release.
While DMT in its regular form is an unstable molecule that is rapidly metabolized in the human body, Cybin’s proprietary molecule has shown an improved bioavailability pharmacokinetic profile when administered via intravenous (IV) and inhaled routes in preclinical studies, the company said. Further, CYB004 administered by IV also demonstrated a longer duration of effect compared to standard DMT, which could extend the therapeutic window and improve dose optimization.
Cybin said in news release that it plans to evaluate CYB004 for the treatment of generalized anxiety disorder, both with or without major depressive disorder.
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