Australia’s MindBio Therapeutics Corp (CNSX: MBIO) reported an unusual and interesting achievement this week.
The psychedelics company has figured out a means of determining whether subjects have ingested its LSD-like drug by using AI to analyze their speech. MindBio considers this to be a major discovery and a valuable addition to its intellectual property portfolio.
“The commercial opportunities for MindBio’s speech discovery are significant for monitoring medication adherence including medication abuse or intoxication in patients through voice analysis,” the biotech operator explained.
In tandem with this development, MindBio revealed that it is acquiring Life AI — an artificial intelligence company that has developed a smartphone app capable of telling if a person is intoxicated by listening to their voice.
“The acquisition of Life AI Corp provides an ideal platform to further develop, expand upon and commercialize MindBio’s discovery and intellectual property whilst the company pursues drug development in clinical trials,” the company added. “There is a strategic fit between MindBio’s speech diagnostic tools and Booze AI’s work in alcohol consumption and intoxication detection.”
Two ongoing studies, more coming soon
MindBio currently has two ongoing Phase 2B clinical trials assessing the psychoactive drug that are scheduled for completion by the end of this year’s third quarter. They are among the first approved take-home psychedelics studies in the world.
The first is examining the impact the drug has on subjects suffering from depression. The other is concerned with cancer patients dealing with end-of-life anxiety.
Initial trials demonstrated a favourable 72 per cent anti-depressant response lasting for six months after an eight-week treatment regimen. Participants reported improvements in mood, sleep and overall mental wellness.
“We are delighted in the progress of our trials to date and are excited by the technological developments in the company that are showing a lot of promise and potential for scaling commercially,” MindBio chief executive, Justin Hanka, said in a statement on Jan. 15.
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MindBio to use MB22001 for women’s health
In addition to clinical depression and end-of-life distress, the LSD-like flagship drug is being examined for its potential to alleviate negative emotions in women with pre-menstrual syndrome (PMS) and pre-menstrual dysphoric disorder (PMDD) — a more severe type of PMS.
These trials received approval in early 2024 and are still being developed.
“The trials in women’s health aim to address a huge unmet need in effectively treating PMS and PMDD without the side effects of anti-depressants and the combined oral contraceptive pill often used in treatment,” MindBio said in a press release last year.
MindBio has secured funding for its research through multiple private placements. Also, contributions from organizations like the Health Research Council of New Zealand.
A group of five investors sunk over C$200,000 into the company last month. It has raised over C$910,000 to date. MindBio completed its IPO in May 2023.
rowan@mugglehead.com
