PsyBio (TSXV: PSYB), a biotechnology company pioneering the next generation of targeted psychoactive medications, today announced that it has amended its master sponsored agreement with Miami University based in Oxford, Ohio. The amended agreement extends and expands the research efforts of the laboratory of Dr. J. Andrew Jones in the Department of Chemical, Paper and Biomedical Engineering (the “Jones Lab”) to include additional research efforts of the laboratory of Dr. Matthew McMurray in the Department of Psychology (the “McMurray Lab”), and to provide an additional US$1.5 million in funding until May 2023 to Miami University to support all such research. According to the update, the continued collaboration with Miami University is anticipated to expediate progress towards the filing of an Investigational New Drug (“IND”) application with the US Food and Drug Administration (“FDA”). “The initial collaboration between PsyBio and Miami University has resulted in the discovery and scaled production of two medically-relevant tryptamine molecules that are naturally present in psychoactive magic mushrooms, psilocybin and norbaeocystin. The compounds have been efficiently synthesized and further studied in our labs and have now moved out of our labs into venerated commercial development facilities,” said Evan M. Levine, CEO of PsyBio. “PsyBio believes that it can synthesize these molecules cheaper, faster and greener than any other published method, and is unaware of any other biotechnology company synergistically developing these natural alkaloids with the intent of commercial medical use. We have filed intellectual property on the preliminary synergistic properties of these natural alkaloids, and PsyBio is developing a portfolio of similar and various intermediates and combinations thereof in multiple plants, fungi and non-natural substrates, with the endeavor for the study of and testing for improved human clinical treatment.”
To view the full press release, visit https://ibn.fm/xWwbT
About PsyBio Therapeutics Corp.
PsyBio is a biotechnology company developing novel formulations of psychoactive medications produced by genetically modified bacteria for the treatment of mental health and other disorders. The team has experience in drug discovery based on synthetic biology as well as clinical and regulatory experience moving drugs through human studies and regulatory protocols. Research and development is currently ongoing for naturally occurring psychoactive tryptamines originally discovered in different varieties of hallucinogenic mushrooms, other tryptamines and phenethylamines and combinations thereof. The company is also researching and developing new non-naturally occurring molecular structures, which may have unique therapeutics properties. For more information about the company, visit www.PsyBioLife.com.
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
Do you have questions or are you interested in working with PNW? Ask our Editor
PsychedelicNewsWire is part of the InvestorBrandNetwork.