Toronto’s Center for Addiction and Mental Health (CAMH) just received the first-ever federal grant to study whether the active component of “magic” mushrooms can be used to treat depression. Researchers will explore whether the psychoactive effects are necessary to relieve treatment-resistant depression in adults. According to CAMH’s lead investigator, clinical trials suggest that psilocybin, combined with psychotherapy, can produce “sustained antidepressant effects” in individuals living with severe depression. This news comes just days after a major scientific review found “no clear evidence” that low serotonin levels are responsible for depression, calling into question the efficacy of antidepressants. It’s clear that alternative treatment options are necessary to combat depression and other mental illnesses, which is where companies developing psychedelic-based treatments like Optimi Health Corp. (OTCQX:OPTHF) (CSE:OPTI), ATAI Life Sciences (NASDAQ:ATAI), Mind Medicine (MindMed) Inc (NASDAQ:MNMD) (NEO:MMED), Cybin Inc (NYSE:CYBN) (NEO:CYBN), and Enveric Biosciences (NASDAQ:ENVB) come in.
Optimi Health Corp. (CSE:OPTI) (OTCQX:OPTHF) is a Canadian company aiming to be the number one trusted supplier of safe and natural EU-GMP psilocybin and functional mushrooms across the world. Optimi Health is developing a robust IP portfolio through its Health Canada Dealer’s License and utilizing its 20,000 sq ft state-of-the-art production and research facilities to cultivate, test, and synthesize high-quality mushroom strains and psychedelic substances such as MDMA.
On July 14, Optimi Health announced that it has finalized a supply agreement with Bloom Psychedelic Therapy And Research Center, a Calgary-based provider of mental health services, including psychedelic-assisted therapies using ketamine treatments.
“Our Supply Agreement with Bloom solidifies another key relationship for Optimi,” said Optimi Health CEO Bill Cirpick. “Their position as therapeutic practitioners, as well as their work in conducting the kind of clinical trials necessary to advance regulatory outcomes for psychedelic medicines, make them ideal partners in alignment with Optimi’s strategic goals.”
Optimi will give Bloom enough natural psilocybin biomass to start conducting its previously announced clinical trial in partnership with the IMPACT Clinical Trial Acceleration Program, located in the Alberta’s Life Sciences Innovation Hub at the University of Calgary.
The proposed Phase I dosing study will aim to find the optimal microdose or low dose of psilocybin that provides general improvements in mood, memory, sleep, and other measures of general well-being without any hallucinogenic effect.
On June 28, Optimi announced that it has entered into a supply agreement with SABI Mind, a Calgary-based group of clinics that offers psychedelic-assisted therapies.
The company will provide SABI Mind clinical staff with supplies of GMP psilocybin and 3,4-methylenedioxymethamphetamine (MDMA), pending early approval of its previously announced license amendment, for the use by practitioners in psychedelic-assisted therapy. therapeutic protocols with patients approved through Health Canada’s Special Access Program, clinical trials and academic studies.
“This agreement is an important step forward for both parties,” Optimi Health CEO Bill Ciprick said. “SABI Mind’s initiation of this agreement demonstrates a commitment to safe supply for the development and implementation of therapeutic modalities using psilocybin and MDMA.”
Clinical distribution is an important step in the growth of the Canadian psychedelic sector from a business operations perspective and as a medical option for those in need.