Clerkenwell Health, a start-up based in the United Kingdom, plans to open a commercial facility for carrying out drug trials on psychedelics in London. This facility will be the first in Europe to be launched for this particular purpose.
The company plans to start trials that will focus on the potential for psychedelic drugs in treating mental health conditions, including end-of-life anxiety, nicotine dependency and post-traumatic stress disorder, by August.
In a recent interview, Clerkenwell Health CEO Tom McDonald stated that the United Kingdom was well positioned to be at the forefront of psychedelic-assisted therapy as a global leader in clinical trials, noting that this particular therapy could be groundbreaking for the treatment of mental health disorders. McDonald also revealed that the company’s objective was to make the UK the heart of the commercial psychedelic research ecosystem. He explained that this would be achieved by closely working with drug developers and mental health experts around the globe to deal with serious mental health conditions.
For a while now, drug developers have been exploring the use of psychedelics as treatments for conditions such as addiction, PTSD and mood disorders. However, the classification of psychedelic drugs as controlled substances has made it expensive and challenging to conduct clinical trials using these substances.
Psychedelic drugs such as mescaline, LSD and psilocybin were utilized in psychiatry in the United Kingdom until 1971 when they were classified as highly addictive and harmful drugs which possessed no known clinical uses. However, modern research has discovered that these drugs can effectively decrease symptoms of obsessive-compulsive disorder, depression and anxiety. Other studies have also found that the substances can also be effective in the treatment of tobacco dependence and alcoholism, with similar research in opioid use disorder, chronic pain and anorexia being developed.
Clerkenwell Health revealed that it used digital technologies that were evidence-based to optimize patient outcomes and improve the efficiency of patient engagement and treatment. The company’s website reveals that the trials will begin with a therapist informing their patient about what they can expect during their session, after which the psychedelic medication will be administered in a safe and comfortable room.
Therapists will then work with their patients to identify ideas or thoughts from the psychedelic experience that may bring about meaningful change, by assisting patients in interpreting their experiences.
It looks like Europe is gearing up to jostle with the U.S. and other developed nations for supremacy in the bourgeoning psychedelics sector. As activity heats up in different countries, companies such as Silo Pharma Inc. (OTCQB: SILO) could be the net beneficiaries along with patients since the path to approved psychedelic medicines will have many players collaborating or even competing to hit the market first.
NOTE TO INVESTORS: The latest news and updates relating to Silo Pharma Inc. (OTCQB: SILO) are available in the company’s newsroom at https://ibn.fm/SILO
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