Psychedelic: Clearmind engages government, political affairs consulting firm

In this week’s “Psychedelic,” The Fly’s recurring series focused on psychedelic stock news, The Fly looks back on a lobbying firm engagement, a notice of allowance and analyst initiations.

CLEARMIND ENGAGES GOVERNMENT, POLITICAL AFFAIRS FIRM: Clearmind Medicine (CMND) announced Thursday that it has engaged a government and political affairs consulting and lobbying firm to support its mission of advancing psychedelic-based treatments. As psychedelics gain traction in the pharmaceutical industry for their potential to treat conditions such as Post-Traumatic Stress Disorder and other mental health disorders, Clearmind recognizes the importance of navigating complex regulatory landscapes and fostering greater acceptance among policymakers in the U.S. The company has partnered with the firm to help advance the integration of psychedelic therapies into mainstream healthcare by advocating for informed, science-based regulatory frameworks. The consulting firm will work closely with Clearmind to educate policymakers on the therapeutic potential of psychedelics, support the development of balanced regulations, and foster strategic alliances to advance the company’s pipeline, including its lead candidate, CMND-100, currently in Phase I/IIa clinical trials for AUD at institutions like Yale School of Medicine and Johns Hopkins University.

“We are pleased to collaborate with a team of seasoned government affairs experts to help shape the future of psychedelic medicine,” said Adi Zuloff-Shani, CEO. “Psychedelics hold immense promise for transforming mental health treatment, but their novelty requires proactive engagement with regulators and policymakers to ensure safe and equitable access. This partnership underscores our commitment to driving progress in this rapidly evolving field.”

ENVERIC RECEIVES NOTICE OF ALLOWANCE FROM USPTO: Enveric Biosciences (ENVB) announced Tuesday that the United States Patent and Trademark Office has issued a Notice of Allowance for a patent application covering compositions of matter and methods of use for a novel class of aminated tryptamine derivatives. The patented compounds were designed through Enveric’s proprietary discovery platform and represent a first-in-class approach to non-hallucinogenic psychedelic-inspired therapeutics. The compounds demonstrated low hallucinogenic liability in preclinical testing, including minimal Head Twitch Response and reduced 5-HT2A receptor activation, two established indicators of hallucinogenic activity in rodents.

“The allowance of this application adds a new tier of patent-protected innovation to our pipeline of non-hallucinogenic neuroplastogens,” said Joseph Tucker, CEO. “Unlike traditional psychedelics that require intensive clinical monitoring due to their hallucinogenic effects, our molecules are designed for frequent, flexible, outpatient dosing, which we expect will be better aligned with patient lifestyles, clinics workflows, and payers established models.”

LUCID INITIATES COVERAGE OF PSYCHEDELIC FIRMS: Lucid Capital initiated coverage of Atai Life Sciences (ATAI) on Friday with a Buy rating and $12 price target. Atai has assembled one of the largest drug portfolios in “seven short years,” including four psychedelic programs, to revolutionize the treatment of mental health, the analyst said. The firm views the company as an “aspiring leader” in mental health.

Additionally, Lucid Capital initiated coverage of Cybin (CYBN) with a Buy rating and $106 price target. Cybin is developing alternative formulations and derivatives of psychedelic drugs, the analyst said. The firm pointed out the Drug Enforcement Agency classifies both of Cybin’s drugs as Schedule I, meaning “drugs with no currently accepted medical use and high potential for abuse.”

SILO PHARMA SECURES BIOMARKER PATENT: Silo Pharma (SILO) announced Wednesday that the U.S. Patent and Trademark Office had issued a Notice of Allowance for U.S. Patent Application No. 17/954,858, titled “Biomarkers for Efficacy of Prophylactic Treatments Against Stress-Induced Affective Disorders”, that Silo licenses from Columbia University.  The to-be-issued patent will further strengthen Silo’s IP protection for its lead asset, SPC-15, an intranasal treatment targeting post-traumatic stress disorder. The patent is expected to issue as U.S. Patent No. 12,329,726 on June 17.

Eric Weisblum, CEO, stated, “The original patent issued for this invention was filed by our collaborator Columbia University and supported by grants awarded by the National Institutes of Health. This patent offers increased protection for the key technology behind our novel PTSD prophylactic, which we are preparing to take into Phase 1 clinical trials.”

OTHER PSYCHEDELIC STOCKS: Publicly-traded companies in the space include Algernon Pharmaceuticals (AGNPF), Allied Corp. (ALID), BetterLife (BETRF), Bright Minds (DRUG), Compass Pathways (CMPS), Entheon Biomedical (ENTBF), Filament Health (FLHLF), GH Research (GHRS), Incannex (IXHL), Mind Medicine (MNMD), MIRA Pharmaceuticals (MIRA), Mydecine Innovations (MYCOF), NRx Pharmaceuticals (NRXP), Numinus Wellness (NUMIF), Optimi Health (OPTHF), Pasithea Therapeutics (KTTA), PharmAla (MDXXF), PharmaTher (PHRRF), Psyence Biomedical (PBM), Psyence Group (PSYGF), Quantum BioPharma (QNTM), Relmada Therapeutics (RLMD), Revive Therapeutics (RVVTF), SciSparc (SPRC), Seelos Therapeutics (SEEL) and Synaptogenix (SNPX).