Mind Medicine Australia will be giving psilocybin and MDMA at no cost to new clinical trials examining the benefits of psychedelics, the non-profit announced on Thursday.
The charity said that is currently considering applications from research organizations to supply medical-grade psilocybin and medical-grade MDMA at no cost to support new clinical trials.
It is particularly interested in supporting research that optimizes treatment results and extends the application of psychedelic-assisted therapies to other classes of mental and physical illnesses.
MMA has recently partnered with Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) a Canadian GMP psychedelics manufacturer, for the supply of GMP medical grade psilocybin and GMP medical grade MDMA to Australia.
The purpose of this agreement is to provide these medicines for clinical use and use in clinical trials. Starting from July 1, these medicines will be made available in Australia at affordable prices, aligning with the TGA’s rescheduling decision.
In addition to this collaboration, MMA strongly supports the advancement of research on psychedelic medicines for mental health treatments. Currently, MMA is either fully or partially funding four different trials in this area.
The Commonwealth Government’s recent announcement of a $15 million grant round, aimed at supporting research on psychedelic medicine –the largest government grant round for this purpose worldwide– is a direct outcome of MMA’s advocacy.
“Since the establishment of Mind Medicine Australia 4 years ago, Australia has moved from starting its first clinical trial of psychedelic medicine to multiple trials and has become the first country in the World to reschedule these substances for clinical use as medicines,” MMA chairman Peter Hunt said.
“We have moved from being largely absent from this area of medical innovation to fast becoming a world leader.”
“Given the high calibre of researchers in this country and the desperate need for new and more effective treatments, we are delighted to announce that we will consider applications from research organizations for the provision of medical grade GMP psilocybin and GMP medical grade MDMA at no cost to support new innovative trials,” Hunt explained.
Last August, the organization received an initial donation of AUD$1 million from the Hunt Family Foundation for its new fund to support the development of observational trials investigating psychedelic-assisted therapies.