PsyIndex Weekly Update July 5, 2021 – July 9, 2021
PsyIndex Weekly Update
July 5, 2021 – July 9, 2021
The PsyIndex moved marginally lower last week, giving up some gains from the prior week. Meanwhile, investors continue to keep an eye on clinical results from many companies in the space.
Silo Pharma Inc. (OTCQB: SILO) extended its agreement for an experimental rheumatoid arthritis nanopartical homing peptide. Press Release
Mindset Pharma Inc. (CSE: MSET) revealed additional preclinical data showing strong efficacy and improved safety in a head-to-head comparison with psilocybin. Press Release
Atai Life Sciences N.V. (NASDAQ: ATAI) was added to the North American Psychedelics Index ETF (NEO: PSYK). Press Release
We look at how KetamineOne Capital Ltd. (NEO: MEDI) (“Ketamine One” or the “Company”) plans to bring psychedelic treatments to patients and overcome some of the critical barriers in administering mental health treatments with technology.
Enveric Biosciences (NASDAQ: ENVB) recently announced a definitive agreement to acquire MagicMed Industries Inc. The deal will essentially make MagicMed a wholly owned subsidiary of Enveric. In terms of the types of acquisitions noted above, this definitely falls into the complementary/adjacent category, and a review of each company points to the creation of a much stronger and more diverse organization as a result of the acquisition.
Industry Developments
Psilocybin spurs rapid growth of new nerve connections in mice. via Medical News Today
The Shroom Boom is coming soon. Here’s how to play it. via InvestorPlace
Third California city seeks to decriminalize psychedelics. via Marijuana Moment
