Psychedelics biopharma company Lobe Sciences Ltd. LOBEF signed a deal with Cantheon Capital, a development of cannabinoids and psychedelic drugs supporter, for aggregate proceeds to the company of up to $1.5 million for an annual term with a 15% interest.
Funding for psychedelics research and clinical trials is certainly here to stay. In the last couple of weeks, other biotech companies advancing both classic and next-generation psychedelic medicines such as Bright Minds
and Freedom Biosciences have also signed considerable loan agreements with major investors towards designing and conducting their respective instances of psychedelic studies.
In this specific case, Lobe is set to use that funding for three clinical trials scheduled in Australia evaluating psilocin analogues L-130 and L-131, to be conducted together with partner and contract research organization iNGENū Pty Ltd.