Melbourne Australia’s MindBio Therapeutics Corp. (CSE: MBIO) (FSE: WF6) will be building upon positive results from an LSD study last year aimed at treating anxiety in a new take-home clinical trial on the psychedelic.
The company announced Wednesday that it had acquired ethics approval and assent for the new trial from the Clinical Trials Registry.
The study, which the company says is the first of its kind worldwide, will be examining the impact of microdosing LSD on 20 participants with Major Depressive Disorder (MDD) that will take the drug in the comfort of their own homes.
In the study, the feasibility and tolerability of an eight-week regimen of LSD microdosing will be assessed. The results derived from this trial will help to inform a significantly larger trial that will be conducted in the future.
The company’s study on the psychedelic last fall found that participants were more happy, energetic, creative and felt a higher overall level of wellness on the days they were dosed with LSD. MindBio recently published the results from that study in the journal Biological Psychiatry.
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Read more: LSD microdosing shows promise as treatment for major depression: MindBio study
MindBio went public and listed its shares on the Canadian Securities Exchange at the beginning of this month.
MindBio says over 260 million people worldwide are impacted by MDD and that the Centers for Disease Control and Prevention (CDC) estimate that 16 million American citizens struggle with depression every year. Therefore, new treatments are needed where others have been failing.
“We are pleased to be advancing our microdosing treatments to Phase 2 clinical trials. Psychedelic microdosing proposes to be a globally scalable solution to treating mental health conditions and we are excited by the data we are seeing and the potential future commercialization opportunities for these medicines,” said MindBio’s CEO Justin Hanka.
New York’s Mind Medicine Inc (NASDAQ: MNMD) (NEO: MMED) is another company actively studying LSD. Mind Medicine observed positive results from its recent study on the psychedelic in Switzerland, which showed that the drug helps alleviate anxiety and depression symptoms.
MindBio’s stock dropped by 13.04 per cent Wednesday to $0.10 on the Canadian Securities Exchange.
rowan@mugglehead.com
