In the last decade, a lot of clinical research on psychedelic substances has been conducted, with many scientists focusing on their use in treating psychological and mental ailments. This has also led to a surge in investments into psychedelic research, with many results heralding psychedelics as effective alternative medications for various ailments.
Before being classified under Schedule I of the Controlled Substances Act in the United States, psychedelics had been used for both medicinal and recreational purposes by different indigenous tribes and cultures for centuries, only becoming popular in Western medicine in the late 1950s and 1960s.
Recent studies on the substances have yielded promising results, with most scientists being of the opinion that psychedelics possess the ability to reset an individual’s brain and will be useful in managing various mental disorders. Below are some of the pioneering clinical trials that could create new approaches for treating various mental health conditions.
A UK-based neuropharmaceutical company known as Small Pharma recently expanded its phase 1/2a clinical trial for its SPL026 formulation, which is a DMT-based treatment for major depressive disorder. DMT is a potent hallucinogen that is found in various plants, which include the chacruna shrub found in South America. The hallucinogen is used by shamans to make a hallucinogenic brew for both medicinal and recreational use. The trial’s objective is to evaluate the tolerability, safety and effectiveness of its DMT-based candidate in treating major depressive disorder.
The opioid crisis in America is growing at an alarming rate. To help combat this issue, atai Life Sciences and DemeRx recently entered into a joint venture to conduct a phase 1/2a clinical trial that will feature ibogaine as a treatment for opioid use disorder. Ibogaine is a psychoactive compound that is extracted from iboga, a West African shrub. The naturally occurring compound has demonstrated evidence of sustained and rapid effectiveness in treating opioid use disorder.
The Multidisciplinary Association for Psychedelic Studies is also conducting a phase 3 clinical trial that is evaluating the safety and effectiveness of MDMA-assisted therapy in treating severe post-traumatic stress disorder. MDMA, which is commonly known as ecstasy, is known to boost dopamine and serotonin levels in the brain.
In addition to this, the Imperial College London also conducted a phase 2 trial that involved patients suffering for major depressive disorder. A psilocybin formulation developed by Compass Pathways, which received breakthrough therapy designation from the FDA, was used in the trial. Psilocybin is a naturally occurring compound that is extracted from hallucinogenic mushrooms.
The research above is by no means the only ongoing work on psychedelics. In fact, several companies, including Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF), are also hard at work developing psychedelics formulations intended to treat conditions with underserved or unmet medical needs, particularly mental health disorders.
NOTE TO INVESTORS: The latest news and updates relating to Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) available in the company’s newsroom at https://ibn.fm/TRYPF
About PsychedelicNewsWire
PsychedelicNewsWire (PNW) is a specialized content distribution company that (1) aggregates and distributes news and information on the latest developments in all aspects and advances of psychedelics and their use, (2) creates PsychedelicNewsBreaks designed to quickly update investors on important industry news, (3) leverages a team of expert editors to enhance press releases for maximum impact, (4) assists companies with the management and optimization of social media across a range of platforms, and (5) delivers unparalleled corporate communication solutions. PNW stays abreast of the latest information and has established a reputation as the go to source for coverage of psychedelics, therapeutics and emerging market opportunities. Our team of seasoned journalists has a proven track record of helping both public and private companies gain traction with a wide audience of investors, consumers, media outlets and the general public by leveraging our expansive dissemination network of more than 5,000 key syndication outlets. PNW is committed to delivering improved visibility and brand recognition to companies operating in the emerging markets of psychedelics.
To receive instant SMS alerts, text “Groovy” to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.PsychedelicNewsWire.com
Please see full terms of use and disclaimers on the PsychedelicNewsWire website applicable to all content provided by PNW, wherever published or re-published: https://www.PsychedelicNewsWire.com/Disclaimer
Do you have questions or are you interested in working with PNW? Ask our Editor
PsychedelicNewsWire (PNW)
San Francisco, California
www.PsychedelicNewsWire.com
415.949.5050 Office
Editor@PsychedelicWire.com
PsychedelicNewsWire is part of the InvestorBrandNetwork.