Psychological company Psyence partners with iNGEN for palliative care

Life sciences biotech company Psyence Group Inc PSYGF s wholly owned Australian subsidiary Psyence Australia Pty Ltd partnered with Contract Research Organization CRO iNGEN Pty Ltd to conduct a Phase 2 b clinical trial of psilocybin for palliative care.

iNGEN will design and perform Psyence's first clinical study in palliative care using Filament Health FLHLF's natural psilocybin drug candidate PEX 010. The psychedelic will be studied in a 25 mg oral capsule format.

The randomized, placebo-controlled, double-blind trial will examine the use of psilocybin-assisted psychotherapy versus psychotherapy alone in over 75 patients with adjustment disorder due to a recent terminal cancer diagnosis.

We are partnering with iNGENu to benefit from their experience as a leading psychedelic CRO. The Australian federal government's R&D tax incentive program, which can provide up to a 43.5% rebate on our expenses, makes it a cost-effective endeavor, said Psyence CEO Dr. Neil Maresky.

As CEO of iNGEN, Dr. Sud Agarwal said it will be very rewarding to help this vulnerable patient group who are suffering major mental health issues due to their cancer diagnosis. Following the TGA decision to reschedule MDMA and psilocybin as controlled medicines from July 1, 2023, Australia-based clinical-stage biotech company Emyria Ltd. is expanding its MDMA analogs library in an exclusive partnership with the University of Western Australia UWA. A batch of 19 MDMA-inspired Novel Chemical Entities NCEs was sent for preliminary preclinical screening to Eurofins, adding up to over 150 compounds in the company's portfolio.

Emyria s aim is to develop faster-acting MDMA for PTSD therapy towards expanding access, as well as MDMA analogs to address the classical psychedelic side effects on Parkinson's treatment.

The company expects to select lead compounds for pre-IND enabling studies in the second half of 2023.

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The event will take place at the Fontainebleau Miami Beach Hotel in Florida on April 13, 2023. This is the place to get DEALS DONE, raise money, jumpstart M&A and meet investors and key partners.

Photo: Benzinga edit with photos by Augusto Cabral, eskymaks and billion photos on Shutterstock.