The study, published in the journal Molecular Psychiatry, suggests that nature-derived psilocybin may be demonstrably more therapeutic than its synthetic analog
Benefits are thought to include a more potent and prolonged effect on neuroplasticity
NEW YORK, March 18, 2024 (GLOBE NEWSWIRE) -- Psyence Biomedical Ltd. (Nasdaq:PBM) ("Psyence Biomed" or the "Company") today issued a statement welcoming the results of a recent study finding evidence that nature-derived psilocybin may be demonstrably more therapeutic than synthetic psilocybin.
Published on February 20, 2024, in the journal Molecular Psychiatry, the study was conducted by a research team from Hebrew University, and supervised by Professor Bernard Lerer, MD, Executive Director of the Hadassah Brain Labs and Center for Psychedelic Research. The study presents evidence that nature (mushroom)-derived psilocybin delivers a “more potent and prolonged effect” on “neuroplasticity” than its synthetic analog. “Neuroplasticity” is increasingly recognized as the gold standard by which the therapeutic efficacy of psychedelic pharmaceutical medicines can be measured. The study in mice also suggests that a potential combination of molecules that the study refers to as “the entourage effect” may provide “enhanced or prolonged therapeutic effects” not found in synthetic psilocybin.
Dr. Neil Maresky, MD, Chief Executive Officer of Psyence Biomed, the first Nasdaq-traded botanical (non-synthetic) psilocybin biopharma company, stated, “This evidence-based and independent finding affirms Psyence Biomed’s pioneering commitment to nature-derived psilocybin and developing an FDA-approved, nature-derived psilocybin therapeutic for Palliative Care.”
Palliative Care is a holistic and integrative medical specialty that provides patients who have received a life-limiting diagnosis with treatment for their emotional, physical, or spiritual distress or discomfort. Proprietary research suggests that the U.S. Palliative Care market is projected to grow to $28.6 billion in 2030.
While most psychedelic companies research synthetic psilocybin, Psyence Biomed stands alone as the only Nasdaq traded biopharmaceutical company to research a nature-derived psilocybin candidate to treat Adjustment Disorder in the context of Palliative Care. Psyence Biomed has recently received ethics approval for the trial protocol for its Phase llb clinical trial to move forward. It is expected that the first patients will be randomized in the second quarter of 2024, with topline results available in 2025.
The Psyence Biomed study will examine the use of nature-derived psilocybin as a treatment for Adjustment Disorder due to a recent cancer diagnosis in the Palliative Care context. Adjustment Disorder is a serious condition affecting approximately 19% of patients with a life-limiting diagnosis. It severely impacts the quality of life for patients, their families and caregivers, and regularly ranks among the top seven psychiatric diagnoses in the world, according to the World Health Organization (WHO).
Dr. Maresky added, “Developing therapies such as psilocybin-assisted psychotherapy, which may reduce patients’ stress and anxiety and result in better quality of life as they navigate a cancer diagnosis, can be very impactful. With psilocybin-assisted psychotherapy, there is an opportunity to both improve patient quality of life while also reducing health care costs associated with Palliative Care.”
Palliative Care is also increasingly recognized by the oncology community as a solution to stretching scarce health care resources. According to a separate report this month in the Journal of Clinical Oncology, the ASCO journal, “Randomized controlled trials have demonstrated that Palliative Care can improve quality of life and survival for outpatients with advanced cancer.” The JCO study found that with Palliative Care, hospitalizations decreased 18.7%.
Neither Psyence Biomedical nor any of its investors or affiliates funded or in any way sponsored the Hebrew University study. The full text of the paper can be found here: https://link.springer.com/content/pdf/10.1038/s41380-024-02477-w.pdf
The JCO paper can be found here: https://ascopubs.org/doi/10.1200/OP.23.00576
About Psyence Biomed:
Psyence Biomedical Ltd. is a life science biotechnology company listed on Nasdaq (Nasdaq:PBM), with a focus on natural psychedelics. The Company is developing nature-derived psilocybin mushroom products for the healing of psychological trauma and its mental health consequences in the context of palliative care. Our name “Psyence” combines the words psychedelic and science to affirm our commitment to producing psychedelic medicines developed through evidence-based research. We work to develop advanced natural psilocybin products for clinical research and development.
Learn more at www.psyencebiomed.com and on LinkedIn.
Contact Information
Email: ir@psyencebiomed.com
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General Information: info@psyencebiomed.com
Phone: +1 416-477-1708
Investor Contact:
Jeremy Feffer
Managing Director
LifeSci Advisors
jfeffer@lifesciadvisors.com
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The Company makes no medical, treatment or health benefit claims about the Company’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. The Company has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy, and safety of potential products do not imply that the Company verified such in clinical trials or that the Company will complete such trials. If the Company cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the Company’s performance and operations.
