Houston, Texas--(Newsfile Corp. - May 27, 2020) - Psychedelic drugs may soon open new options for treating a range of mental and health issues.
The Miller School of Medicine at the University of Miami for example just received funding to study the combination of psilocybin and CBD for treating traumatic brain injury and PTSD for example. Researchers believe the combination therapy may be able to treat both issues, as highlighted by Psychedelic Review.
There is also evidence psychedelics may be able to help with obsessive-compulsive disorder, PTSD, opioid addiction, alcoholism, eating disorders, depression, anxiety, and even smoking.
Even more impressive, a study in the Journal of Psychopharmacology found that a single mushroom-based treatment can help improve the lives of cancer patients' quality of life for nearly five years. This study builds on a 2016 study that provided treatments to 29 people suffering with life-threatening cancer, and were also diagnosed with depression or anxiety.
Better still, according to Fredrick S. Barrett, an assistant professor at Johns Hopkins University School of Medicine, as quoted by The Next Web. "A single high dose of psilocybin, administered to properly screened individuals in a carefully controlled setting can have lasting positive effects on emotional functioning in healthy individuals. These effects were reflected in transient changes in the function of brain regions that support emotional processing."
In addition, there are hopes psilocybin could be an effective treatment for obesity. In fact,
Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) subsidiary NeonMind Biosciences Inc. is nearing studies to confirm whether it's an effective treatment for obesity.
Psilocybin May Help Address the Global Obesity Epidemic
NeonMind Biosciences Inc. has taken further steps towards commencing its clinical studies to confirm whether psilocybin (a compound in psychedelic mushrooms) is an effective treatment for food cravings and weight loss. NeonMind has now identified a source of psilocybin in Canada and has identified a laboratory at a University in Canada in which to conduct the studies.
NeonMind previously announced that it had engaged Translational Life Sciences Inc. to conduct the study and that TLS had completed the design of a study to confirm whether psilocybin (found in psychedelic mushrooms) is an effective treatment for weight loss and food craving.
TLS has identified a source of synthetically created psilocybin, manufactured by a licensed laboratory, for use in the NeonMind studies. Also, NeonMind has identified a laboratory where the studies can be carried out. Before the psilocybin can be ordered and before NeonMind can enter into an agreement with the Lab, the Lab must first obtain an exemption from the Canadian Minister of Health pursuant to Subsection 56(1) of the Controlled Drugs and Substances Act, S.C. 1996, c. 19 by the researchers at the Lab to allow them to use psilocybin, a controlled substance, in research studies. NeonMind expects the exemption to be granted within a few months. Researchers at the Lab have previously obtained other exemptions for research involving controlled substances.
TLS has provided an estimate of $250,000 as a budget for the study and an estimated time frame of 6 months to complete the study, with valuable data anticipated to be available within the first few months. TLS estimates that all necessary approvals can be obtained so that the study can commence in the fall of 2020. NeonMind plans to fund the study using previous capital raised and from the proceeds of a planned initial public offering of NeonMind, for which due diligence is currently underway with a Canadian investment dealer.
According to the terms of the TLS engagement, signed on May 6, 2020, NeonMind and TLS agreed to work together to conduct the evaluation of psilocin or psilocybin on cravings, on the metabolism, on food addiction and on glucose and hormone levels. Neon authorized TLS to perform activities required to prepare for and conduct the study and the parties shall work towards entering into a clinical study agreement. NeonMind agreed to pay for all costs related to the study and TLS agreed to arrange for required regulatory exemptions and licenses, and engagement of all necessary parties to conduct the study.
The company hopes to tap into multi-billion-dollar market opportunities, including the $245 billion weight loss and management market, $64 billion cardiovascular disease treatments, the $156 billion depression market, and the $87 billion diabetes treatment market.
For more information, visit the company's website at https://yieldgrowth.com.
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