PsyIndex Weekly Update January 4, 2021 – January 8, 2021

The PsyIndex fell 1.59% last week amid ongoing profit-taking while Novamind Inc. (CSE: NM) and Neonmind Biosciences Inc. (CSE: NEON) debuted on the Canadian Securities Exchange (CSE). Cybin Inc. (NEO: CYBN) was also officially added to the index following support for NEO-listed companies.


Market Performance



Top Gainers

Top Decliners


Corporate News, Deals & Listings

  • Entheon Biomedical Corp. (CSE: ENBI) announced a strategic investment in Heading Health LLC, a psychiatyric clinic platform focused on psychedelic-assisted therapies. Press Release
  • Nova Mentis Life Science Corp. (CSE: NOVA) appointed Dr. Kyle Ambert to its Scientific Advisory Board. Press Release.

    The company also expanded its psychedelic drug pipeline. Press Release
  • Empower Clinics (CSE: CBDT) closed the acquisition of Lawrence Park Health and Wellness Clinic Inc. Press Release

    The company also announced that its KAI Medical Laboratory sold out the first 5,000 units of its COVID test kits. Press Release
  • Neonmind Biosciences Inc. (CSE: NEON) began trading on the CSE on January 4, 2021. Press Release

    The company also appointed Trevor Millar as its Chief Psychedelics Officer. Press Release
  • Novamind Inc. (CSE: NM) began trading on the CSE on January 5, 2021. Press Release
  • Field Trip Health Ltd. (CSE: FTRP) closed a bought deal financing for just over $20 million. Press Release

    The company also announced its participation in a MAPS-sponsored study. Press Release
  • Mydecine Innovations Group (CSE: MYCO) sponsored a lab-based study of microdosers as Macquarie University in Australia. Press Release

    The company also provided an update on its intellectual property update. Press Release
  • Mindset Pharma Inc. (CSE: MSET) announced positive in vitro results from its novel psychedelic compounds. Press Release
  • COMPASS Pathways plc (NASDAQ: CMPS) announced that its management team would participate in two investor conferences. Press Release
  • Cybin Inc. (NEO: CYBN) provided an update on its patent filings and the development of therapeutics programs. Press Release
  • Numinus Wellness Inc. (TSX-V: NUMI) signed a lab services agreement with Optimi Health. Press Release
  • Lobe Sciences Ltd. (CSE: LOBE) further upsized its second closing of a non-brokered private placement. Press Release
  • Mind Cure Health Inc. (CSE: MCUR) announced the buildout of its digital therapeutics platform, iSTRYM. Press Release
  • Pure Extracts Technologies Corp. (CSE: PULL) listed on the OTC Markets under the ticker symbol PRXTF. Press Release
  • Tryp Therapeutics (CSE: TRYP) appointed Dr. William K. Schmidt to its Scientific Advisory Board. Press Release
  • Thoughtful Brands Inc. (CSE: TBI) announced a binding letter of intent for a reverse takeover and going public transaction. Press Release
  • Red Light Holland Corp. (CSE: TRIP) announced an increase in its bought-deal financing to $8.5 million. Press Release
  • Havn Life Sciences Inc. (CSE: HAVN) announced the closing of a C$11.5 million bought deal financing. Press Release
  • Mind Medicine Inc. (NEO: MMED) announced an upsized financing of C$92.1 million to meet high investor demand. Press Release
  • Core One Labs Inc. (CSE: COOL) appointed Dr. Robert E.W. Hancock as Executive Chairman. Press Release

Featured Content


MagicMed Targets Massive Market with Pharmaceutical Derivatives Program

MagicMed Industries (CSE: MGIC – reserved) is well positioned to participate in the multibillion-dollar brain and mental health markets by creating a patent protected library of drug candidates called the Psybrary™. The Psybrary™ is based on known psychedelic molecules like psilocybin and DMT, but the molecules have been chemically modified to create improved drug candidates. MagicMed can screen their large library of creations to find new drug candidates that are best suited for the treatment of a particular disease.

Tryp’s Debut on the Canadian Securities Exchange

Tryp Therapeutics Inc. (CSE: TRYP) began trading on the Canadian Securities Exchange (CSE) on December 18, 2020 under the ticker symbol “TRYP”.

“Trading on the CSE is a significant milestone in Tryp’s mission to transform the treatment of neuropsychiatric diseases with safe and effective psychedelic medicine,” said CEO James Kuo, MD. “All of the drugs within our portfolio have well characterized safety profiles including our drug candidate for soft tissue sarcoma, which has been in multiple phase 2 clinical trials.” 

Industry Developments

  • Will psychedelic mushroom vacations come to the U.S.? via Washington Post
  • Might a safer version of a psychedelic help treat depression? via Medical News Today
  • Mount Sinai Health System launches Center for Psychedelic Research. via Mount Sinai

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