North American drug developers have signed a deal with a British company to trial the therapeutic benefits of psychedelic medicines in London.
The firms are assessing the use of psychedelics in treating a range of complex mental health conditions, including depression and tobacco addiction. Earlier this year, the Standard reported how scientists were trialling psilocybin, the chemical component in magic mushrooms, as a potential treatment for anorexia nervosa.
The deal reflects how firms are increasingly turning to Britain to conduct research into psychedelics. Trial data generated in the UK is accepted globally.
Mydecine, based in Denver, is developing psilocybin-based drug to treat tobacco addiction in adults, while Toronto-based PharmAla has developed an MDMA-based drug compound to treat social anxiety in adults with Autism Spectrum Disorder.
Canadian developer Psyence, meanwhile, has received regulatory approval to trial its psilocybin-assisted therapy to support terminal cancer patients through their end-of-life care, at Clerkenwell’s facility in London. Mindset, based in Toronto, is developing products that include a psilocybin-like compound aimed at treating major depressive disorder.
James Lanthier, CEO of Mindset, said the UK was an “attractive location” to undertake psychedelic drug development.
Jessica Riggleman, Senior Director of Clinical and Regulatory Affairs, Mydecine Innovations Group, said: “The UK is committed to their world-leading life sciences industry strategy to drive growth, increase expertise, expand patient access, retain their innovative talent pool, and deliver only the very best treatments to the UK population.”
Tom McDonald, CEO of Clerkenwell Health, said: “The UK Government has developed a globally competitive framework for drug approval and clinical trials - helping to fast-track the time it takes to bring innovative medicines to market. It’s why we at Clerkenwell Health have chosen to locate Europe’s first commercial facility dedicated to running psychedelic clinical trials in London.
“We’re excited to be working with these leading Canadian and US drug developers, who are pioneering medicines that could be groundbreaking for the treatment of a range of complex mental health conditions.”
