Psychedelics Investing

Albert Labs Eyes One Dose Psilocybin Treatment for Cancer-related Anxiety

Psychedelics Investing

“While psilocybin is psychoactive, it has been shown in academic studies to be utterly safe. And indeed, the FDA has said it's a breakthrough therapy for mental health conditions,” said Dr. Michael Raymont, CEO and chairman of Albert Labs.

Albert Labs (CSE:ABRT) is gearing up for the first in-human study of its primary drug target, KRN 101, designed as a one dose treatment for cancer-related anxiety and depression, according to CEO and Chairman Dr. Michael Raymont.

The company is wrapping up its animal testing phase and will soon move toward in-human study, said Raymont. In November 2022, Albert Labs signed a letter of intent with iNGENū to carry out the company’s first in-human study, which will take place in Melbourne, Australia.

“Our clinical trial plan focuses on cancer-related distress, because it's very simple: If you receive a diagnosis of cancer, and you're distressed by that, then you go through the treatment, which is one 25 milligram dose, and associated psychotherapy, and then three months later, (patients are asked), ‘Are you free of that anxiety?’ And if more than even 50 percent of the patients are free of that anxiety, then the regulator has a very easy choice to make,” Raymont said.

He noted that regulatory bodies, like the US and the UK, are now looking favorably on psilocybin as a growing amount of scientific evidence shows safety and efficacy. The US Food and Drug Administration (FDA) has designated psilocybin a “breakthrough” therapy for mental health conditions, Raymont added.

Watch the full interview with Dr. Michael Raymont, CEO and chairman of Albert Labs, above.

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