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Psychedelic drugs are quickly going mainstream.
Cities across America are legalizing its use, including Denver, Oakland, Ann Arbor, and Santa Cruz. In addition, a ballot in Oregon could legalize its use by November 2020.
Even the Canadian government allowed four terminally ill patients with cancer to receive psilocybin therapy to help ease end-of-life distress. That's the first time in 46 years that an exemption has been given in Canada for patients to access such treatment.
Advancing the legitimacy of the burgeoning industry, studies are showing that psychedelics can help with a range of mental health issues, including obsessive compulsive disorder, PTSD, opioid addiction, alcoholism, depression, and anxiety. It may even be useful for millions struggling with obesity and eating disorders.
Sadly, according to the World Health Organization (WHO), obesity has tripled in size over the last 50 years. In 2016, they note, 1.9 billion adults were overweight around the world. Of those, 650 million were considered obese. Just in the U.S., nearly 34% of adults and up to 20% of children are obese. By 2030, almost half of U.S. adults will be considered obese.
However, a solution may be found in psychedelics such as psilocybin, which activates serotonin receptors, or "nature's own appetite suppressant," as noted by Psychology Today. "This powerful brain chemical curbs cravings and shuts off appetite. It makes you feel satisfied even if your stomach is not full. The result is eating less and losing weight."
Better Plant Sciences (CSE: PLNT) (OTCQB: VEGGF) is a Driving Force
Better Plant Sciences just announced that its majority owned subsidiary NeonMind Biosciences entered into a definitive agreement with Psygen Labs Inc. for the supply of psilocybin for NeonMind's planned preclinical, and clinical trials to study the use of a drug product including Psilocybin for the treatment of food cravings and anxiety.
Psygen is currently acting as broker between NeonMind and a licensed dealer of restricted drugs. The Licensed Dealer holds a dealer's license issued under Part J of the Food and Drug Regulations. The Supply Agreement provides that Psygen will supply the psilocybin directly once Psygen holds a Dealer's License.
"Psilocybin is known to activate serotonin receptors," says Dr. William Panenka, lead scientific advisor to NeonMind, "as a neurotransmitter, serotonin helps to relay messages from one area of the brain to another. Serotonin is responsible for some of the drivers which govern eating. We are very interested in furthering studies to test various dosing regimens for NeonMind to see the effects that psilocybin may have on the serotonin receptors that regulate food cravings."
"Psygen's mission is to fill a supply gap for restricted drug substances and restricted drug products for use in clinical trials and in pre-clinical research," says Danny Motyka, CEO of Psygen Labs Inc. "We have brokered supply of various restricted drugs for pre-clinical studies and clinical trials through our relationship with a Licensed Dealer. Psygen is currently building out a commercial manufacturing facility designed for high-volume output of psychedelic drug substances and drug products, filling a niche in the evolving psychedelic medicine ecosystem."
NeonMind Moving Aggressively to Show Psilocybin Can Help with Obesity
In December 2019, NeonMind filed a U.S. provisional patent application in the United States for the invention relating to therapeutic administration of psilocybin to provide weight loss benefits and potential treatment or regulation of diabetes, and regulation of blood glucose, and to reduce susceptibility to cardiovascular disease, high blood pressure, diabetes mellitus, hypertension, multiple sclerosis, erectile dysfunction, urinary incontinence, chronic renal failure, sleep apnea, asthma, and certain forms of cancer.
In May 2020, NeonMind completed the design of a preclinical trial to confirm that psilocybin is an effective treatment for weight loss and food cravings. In July 2020, the scientific investigator chosen to lead NeonMind's preclinical trial submitted a Section 56 Exemption application to Health Canada for the use of psilocybin in the Trial. An exemption must be granted and a final agreement entered into with the laboratory before the Trial can begin.
For more information, visit the company's website at https://betterplantsciences.com
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
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