Psychedelics for Depression: MindBio and Enveric’s Joint Efforts

The TDR Three Key Takeaways regarding Psychedelics and MindBio Therapeutics:

1. MindBio and Enveric collaborate on new psychedelics.
2. MindBio helps develop patient-friendly psychedelic options.
3. MindBio’s efforts may reduce antidepressant side effects.

MindBio Therapeutics (CNSX: MBIO) and Enveric Biosciences (NASDAQ: ENVB) are collaborating to advance treatments for neuropsychiatric disorders through microdosing psychedelics, such as their novel psilocin prodrug candidates. This partnership represents a significant move toward utilizing psychedelic medicines to manage mental health disorders without the typical hallucinogenic effects.

MindBio is actively working to advance these treatments by progressing a drug candidate from Enveric’s NPP compounds library. These compounds offer enhanced gastrointestinal stability and absorption, indicating a patient-friendly approach to psychedelic-based therapies. Enveric supports this partnership with their innovative molecular discovery methods and their development of patented assets, which ensure precise formulation and dosing strategies.

Joseph Tucker, Ph.D., Director and CEO of Enveric, expressed his enthusiasm for the collaboration, stating, “We are pleased to leverage the molecular discovery engine at Enveric and believe this novel and patented asset significantly strengthens our intellectual property pipeline and aligns with our strategy to develop innovative, protected compounds with precise formulation and dosing strategies.”

Justin Hanka also emphasized the progressive nature of this agreement, stating, “We look forward to advancing this asset into clinical trials as we aim to bring important and beneficial therapies to patients in need.”

This partnership has the potential to lead to significant advancements in treating depression and other mental health disorders by leveraging the therapeutic potentials of psilocin prodrug candidates. The terms of the deal include milestone payments up to $66.5 million to Enveric, along with royalties on future sales, providing financial incentives for both companies to accelerate clinical trials and development.

Microdosing for depression offers an alternative to traditional antidepressants, potentially reducing side effects and improving outcomes. The agreement between Enveric and MindBio reflects the growing acceptance of psychedelic science in mainstream medicine and signifies a major shift in developing treatments for mental health disorders.

Previously, MindBio reported positive results from its study on MB22001, demonstrating significant improvements in sleep quality through microdosing LSD. “Our Phase 1 clinical trials have shown that LSD can be safely and effectively administered in microdoses without inducing psychedelic effects, and we are now progressing to Phase 2A trials,” said Justin Hanka, CEO of MindBio. Furthermore, Phase 2B trials of MB22001 are advancing, targeting women’s health issues such as PMS and PMDD. The home administration of MB22001 and the observed reduction in depression symptoms highlight the potential of these treatments. MindBio plans additional trials and aims to attract more investment through a dual listing. This new collaboration with Enveric further underscores MindBio’s commitment to advancing mental health treatments through innovative research and development.

MindBio continues to demonstrate its dedication to enhancing mental health treatments, with its latest studies and collaborations showcasing the potential of psychedelic microdosing to address various mental health challenges. Want to keep up to date with all of TDR’s research and news, subscribe to our daily Baked In newsletter.