Psychedelics Business Briefs: MAPS, Mindset, Cybin, KetaMD

MAPS Announces New Board Chair, New Drug Application Plans

MAPS Public Benefit Corporation has announced the election of Jeff George as the next chairman of its board of directors. George succeeds Dawn McCullough, who has served as board chair since January 2019.

George has more than 2 decades of experience in global health care and corporate leadership. He currently is a managing partner of Maytal Capital, a healthcare-focused venture capital and private equity firm he founded in 2017. He is also a partner at Bridge Builders Collaborative, an early-stage venture firm focused on mental health.

In a news release announcing George’s appointment, MAPS said it expects to submit a new drug application to the US Food and Drug Administration for MDMA-assisted therapy for post-traumatic stress disorder (PTSD) in 2023. The submission will include data from a completed Phase 3 study that demonstrated that 67% of participants treated with the therapy no longer qualified for a PTSD diagnosis. The confirmatory Phase 3 study is still ongoing.

Mindset Announces Licensing Agreement With Cybin

Mindset Pharma, a drug discovery company developing psychedelic and non-psychedelic medications, recently announced it has reached a licensing agreement for Cybin to acquire intellectual property rights for a subset of Mindset’s preclinical compounds. Per the agreement, Cybin will license intellectual property related to preclinical compounds within Mindset’s Family 1 portfolio, however the deal does not include MSP-1014, the company’s lead psychedelic drug candidate.

The deal is Mindset’s second such licensing agreement to advance its compounds to clinical study. The agreement includes an initial payment from Cybin to Mindset of $500,000, along with clinical development payments that could total up to $9.5 million upon certain milestones being reached.

KetaMD At-Home Ketamine Therapy Expands in Florida

Braxia Scientific Corporation, a medical research and telemedicine company with clinics providing ketamine and psilocybin treatments for depression and related disorders, announced it has expanded the availability of treatments offered by its wholly owned subsidiary KetaMD in Florida.

KetaMD provides access to at-home ketamine treatments through a virtual platform and mobile app. Patients who are deemed eligible for treatment by KetaMD’s licensed practitioners receive medically supervised treatments that are guided virtually by registered nurses.

The company said in a news release that it plans to expand its service into additional states later this year and in 2023.

Reference

MAPS PBC elects Jeff George as chairman of the board of directors. News release. MAPS Public Benefit Corporation. October 4, 2022. Accessed October 4, 2022.

Mindset Pharma provides strategic intellectual property license to Cybin. News release. Mindset Pharma. September 27, 2022. Accessed September 27, 2022.

KetaMD Expands Access to Breakthrough Ketamine Therapy in Florida to battle the growing mental health crisis and shortage of mental health care providers. News release. Braxia Scientific Corporation. October 4, 2022. Accessed October 4, 2022.