The PsyIndex fell 6.71% last week as traders locked in profits from the prior week’s strong ~18% gains. Cybin Corp. (NEO: CYBN), one of the largest psychedelic companies to date, and Entheon Biomedical Corp. (CSE: ENBI) also went public in Canada.
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Corporate News, Deals & Listings
- Mind Cure Health (CSE: MCUR) announced a non-brokered $3 million private placement. via CannabisFN
- Nova Mentis Life Science Corp.’s (CSE: NOVA) acquisition target, Pilz Bioscience Corp., signed a psilocbyin manufacturing agreement. via CannabisFN
- Field Trip Health Ltd. (CSE: FTRP) is preparing to enter Oregon’s market following the passage of Measure 109. via CannabisFN
- Red Light Holland Corp. (CSE: TRIP) acquired a wholesale distribution company in the Netherlands that provides access to over 1,000 retail outlets in multiple EU countries. via CannabisFN
- Better Plant Sciences Inc.’s (CSE: PLNT) NeonMind obtained Health Canada approval for advanced psilocybin research. via CannabisFN
- Entheon Biomedical Corp. (CSE: ENBI) commenced trading on the CSE under the ticker symbol ENBI. via CannabisFN
- Silo Pharma Inc. (OTCQB: SILO) announced the filing of three U.S. provisional patent applications. via CannabisFN
- Tryp Therapeutics appointed Dr. Jim Gilligan, PhD, MBIS, as President and Chief Scientific Officer. via CannabisFN
- COMPASS Pathways plc (NASDAQ: CMPS) announced financial results for the third quarter of 2020. via CannabisFN
- Psyched Wellness Ltd. (CSE: PSYC) recently applied to uplist to the OTCQB and DTC eligibility. via CannabisFN
- Pharmather Inc. (CSE: PHRM) added Dr. Alberto J. Espay, a prolific Parkinson’s researcher, as Scientific Advisor. via CannabisFN
- Havn Life Sciences Inc. (CSE: HAVN) launched a range of new natural health products. via CannabisFN
- Revive Therapeutics Ltd. (CSE: RVV) provided an update on its oral thin film products with psilocybin. via CannabisFN
Cybin Inc. (NEO: CYBN) became the latest company to go public in the psychedelic space on November 10, 2020 when it began trading on the NEO Exchange.
We take a look at the company’s listing on the NEO and how U.S. retail investors can invest in the company.
The problem is that these cannabinoids can’t be efficiently produced at scale since they are contained in such small quantities in the plant. These scalability issues are mirrored in the psychedelics industry where plants like mescaline take a decade or more to reach maturity, making it challenging to produce enough to meet growing demand.
We take a look at two key issues facing the cannabis and psychedelics industry, why biosynthesis could provide a solution and how CB Therapeutics Inc. plans to provide a solution.