Psyence Biomedical has initiated the first clinical trial site in Australia for its Phase IIb study exploring the potential of psilocybin as a treatment for Adjustment Disorder in palliative care patients. The trial, conducted in partnership with Fluence and iNGENū CRO, aims to assess the efficacy of Psyence’s naturally sourced psilocybin drug, PEX010, and could pave the way for a pivotal Phase III program.
Tampa-based biotech company Psilera is making strides in dementia treatment with its non-hallucinogenic psilocybin drug, PSIL-006. This groundbreaking drug successfully passed a key safety milestone in preclinical studies, paving the way for human trials and potential FDA approval. PSIL-006 could revolutionize treatment for frontotemporal dementia (FTD), currently lacking FDA-approved therapies.
The global market for psychedelic drugs is projected to experience significant growth in the coming years, driven by the increasing recognition of their therapeutic potential for mental health conditions. The market is attracting investment and research, with companies developing innovative therapies using substances like ketamine, psilocybin, and MDMA. However, regulatory hurdles and ethical concerns remain significant challenges.
A new study reveals growing interest among athletes and sports staff in the U.S. and Canada towards using psychedelic-assisted therapy (PAT) for concussion recovery. The research, published in Therapeutic Advances in Psychopharmacology, surveyed 175 individuals, finding a significant willingness to explore PAT, particularly with psilocybin, as a treatment option for sports-related head injuries. This study highlights the potential of psychedelics in sports medicine and opens doors for further research into their efficacy and safety.
Psyence Biomedical’s stock (PBM) plummeted 28.6% on Wednesday after the company announced an exclusive licensing agreement with PsyLabs for pharmaceutical-grade psilocybin. The agreement aims to facilitate clinical trials and potential commercialization of psychedelic treatments for conditions like alcohol use disorder and Adjustment Disorder in cancer patients.
In Colorado Springs, a unique gathering space has emerged – a psychedelic church where individuals can explore spirituality, community, and the therapeutic potential of psychedelics. Founded by Benji ‘Dez’ Dezaval, who believes in the healing power of substances like psilocybin mushrooms and DMT, the church operates within the legal framework of Colorado’s decriminalized psychedelic landscape. Offering a safe and educational environment, the church welcomes individuals from diverse backgrounds, fostering connection and challenging stigmas surrounding psychedelics.
Mike Tyson’s recent revelation about using psychedelic mushrooms for training has sparked a conversation about the growing trend of athletes incorporating psilocybin into their regimens. From professional hockey players to MMA fighters, athletes are reportedly microdosing mushrooms for improved focus, recovery, and mental clarity, but questions remain about potential risks and legality.
Red Light Holland Corp., a company specializing in functional mushrooms and psilocybin truffles, announced strong financial results for the first quarter of fiscal 2025. Revenue increased by 29.7% year-over-year to CA$1.5 million, driven by its diversified revenue streams and strategic focus on growth. The company maintains a robust cash balance and remains committed to advocating for responsible access to psilocybin.
Colorado has finalized comprehensive regulations for the emerging psilocybin industry, marking a significant step forward in the state’s pioneering efforts to legalize psychedelic therapy. The new rules, which were crafted over two years, provide a framework for businesses to operate in the production, distribution, and therapeutic use of psilocybin, DMT, ibogaine, mescaline, and psilocin, as approved by Proposition 122. This move positions Colorado as a leader in the growing movement to explore the therapeutic potential of psychedelics.
The Olympia City Council in Washington state has voted to decriminalize the possession and use of plant-based psychedelics, including psilocybin mushrooms. This resolution directs law enforcement to prioritize public safety over pursuing arrests or prosecutions for personal use of these substances, reflecting a growing shift in drug policy approaches nationwide.
