The National Institute on Drug Abuse and the Drug Enforcement Administration (“DEA”) are supporting a new White House plan that would streamline the process of studying substances classified under Schedule I, including cannabis and psychedelics such as psilocybin and LSD. During a House Energy and Commerce subcommittee hearing held earlier this month, the agencies declared their support for the research proposal.
The proposal, dubbed the Office of National Drug Control Policy research plan, would also address concerns in the scientific community, including the challenges researchers face when trying to study Schedule I substances.
In its written testimony, the DEA stated that the expansion of access to Schedule I studies was a crucial part of its mission to protect public health and safety. Louis Milione, the agency’s principal deputy administrator, explained that it was crucial that the medical and scientific community conduct research on Schedule I drugs as some may possess therapeutic value. He added that the agency supported the Biden administration’s proposal to expand access for research and looked forward to working with the research community as well as its partners to facilitate research on Schedule I substances.
Legislators and researchers have highlighted on numerous occasions that the current rules for conducting research on substances classified under Schedule I are burdensome, which limits important research. In her testimony, Nora Volkow, director of the National Institute on Drug Abuse, highlighted that the challenges researchers experienced when conducting research on Schedule I substances prevented them from pursuing this important work.
This is why the administration wants to align the requirements for research for Schedule I substances with those of drugs under Schedule II, which includes less demanding requirements. The administration’s proposal will also allow multiple scientists at any given institution to take part in and conduct research under one registration. This is in addition to allowing research institutions with studies being conducted in multiple locations to only apply for one registration instead of obtaining registration for each research site.
Furthermore, the proposal would allow some researchers to carry on with their studies once they submitted a notification to the Department of Justice, which is easier than what they currently are required to do, which is wait for relevant officials to sign off on all their research proposals before proceeding with research.
The research will also eliminate the need for additional inspections to be conducted at research sites in certain circumstances and enable scientists to manufacture small drug amounts without acquiring separate registration. However, the cultivation of cannabis will still not be permitted.
If those changes are made, we are likely to see a surge in research being done on controlled substances so that the work already being done by such as Cybin Inc. (NYSE American: CYBN) (NEO: CYBN) can be deepened for the nascent psychedelics sector to grow at a faster pace.
NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (NYSE American: CYBN) are available in the company’s newsroom at https://ibn.fm/CYBN
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