Psyence Biomedical Launches Psilocybin Trial in Australia
Psyence Biomedical Launches Psilocybin Trial in Australia
Psyence Group Inc, also known as Psyence Group (CSE: PSYG), a biotechnology company specializing in life sciences, is thrilled to announce a significant milestone achieved by its NASDAQ-associated company, Psyence Biomedical Ltd (NASDAQ: PBM). Recently, Psyence Biomedical announced the initiation of its first clinical trial site in Australia for a Phase IIb study focusing on nature-derived psilocybin. This venture aims to investigate the potential of psilocybin as a treatment for Adjustment Disorder, particularly in the Palliative Care setting.
Collaborative Efforts With Leading Organizations
Psyence Biomedical has entered partnerships with notable organizations such as Fluence, recognized globally for its contributions to psychedelic therapy education, and iNGEN? CRO Pty Ltd, a prominent Australian clinical research organization. These collaborations are designed to ensure the efficient execution of the trial, which has already commenced with the successful export of the drug product, PEX010, to Australia—a crucial step toward the study's activation.
Patient Screening and Enrollment Timeline
The anticipation builds as the affiliated trial site gears up to start screening patients with the first subject expected to be enrolled in the study shortly. With plans to initiate randomization of patients by October, the study aims to recruit approximately 87 participants.
Expert Insights on Psilocybin's Promise
iNGEN?'s Senior Clinical Project Manager, Veronika Simic, expressed optimism regarding the potential of psilocybin as a therapeutic agent. She noted, "As a leading global contract research organization with notable experience in psychedelic clinical trials, we believe psilocybin holds great promise for treating a wide range of mental health conditions that currently lack effective solutions." Simic emphasized the importance of partnering with Psyence Biomedical to advance this crucial study for patients facing life-limiting illnesses.
Phase IIb Study Design and Research Context
The Phase IIb trial, randomized and double-blind, aims to assess the efficacy of two therapeutic doses of nature-derived psilocybin (10mg and 25mg) compared to a low-dose active comparator (1mg), supplemented alongside psychotherapy. Utilizing scientific rigor, this study explores novel pathways to address mental health challenges faced by those navigating Adjustment Disorder within Palliative Care.
Psyence Group's Commitment to Psilocybin Research
Psyence Group actively participates in the emerging field of natural psychedelics, emphasizing its commitment to developing evidence-based psychedelic medicines that address psychological trauma. The company holds a significant position in Psyence Biomed, with ownership of 5,000,000 common shares, reflecting its vested interest in the success of this groundbreaking research.
Future Updates Anticipated
Jody Aufrichtig, the Executive Chairman of Psyence Group, expressed enthusiasm about the progress made in the Phase IIb study, stating, "We are very pleased that Psyence Biomed has achieved this important milestone, and we look forward to updates regarding patient enrollment and initial dosing." This sentiment underscores the excitement surrounding the study's potential implications.
General Information on Psyence Group
Psyence Group focuses on advancing the world of natural psychedelics with a vision dedicated to blending scientific research with the healing properties of nature. The company is committed to providing innovative solutions for health and mental wellbeing and focuses on developing novel psilocybin-based products targeting various psychiatric disorders.
Frequently Asked Questions
What is the purpose of the Psyence Biomedical trial in Australia?
The trial aims to assess the efficacy of nature-derived psilocybin as a treatment for Adjustment Disorder in Palliative Care.
Who are the partners involved in the Psyence trial?
Psyence Biomedical partners include Fluence and iNGEN? CRO Pty Ltd, both recognized in psychedelic therapy research.
What does the Phase IIb study entail?
The Phase IIb study evaluates two doses of psilocybin against a low-dose comparator alongside therapy, involving 87 participants.
What is Psyence Group's goal with psilocybin?
Psyence Group aims to develop and launch effective psychedelic medicines to address mental health disorders and promote wellbeing.
How many shares does Psyence Group hold in Psyence Biomed?
Psyence Group currently possesses 5,000,000 common shares in Psyence Biomed.
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