The PsyIndex fell 12% last week but posted a rebound toward the end of the week. Meanwhile, there has been a steady increase in companies planning to go public in the space, including Novamind Ventures and Mindset Pharma.
Novamind Ventures Inc. signed a letter of intent with Hinterland Metals Inc. and undertook a $3 million non-brokered private placement to go public on the Canadian Securities Exchange (CSE).
Mindset Pharma Inc. signed a letter of intent with North Sur Resources Inc. and aims to raise $1 million in a private placement to go public on the Canadian Securities Exchange (CSE).
Beckley Psytech Inc. raises £3 million in Series A funding to develop a pipeline of psychedelic drugs into licensed pharmaceutical medicines to treat psychiatric and neurological diseases.
Cybin Corp. and IntelGenx Corp. (TSX-V: IGX) (OTCQB: IGXT) entered into a feasibility agreement to develop an orally-dissolving film for the delivery of pharmaceutical-grade psilocybin.
MagicMed Industries Inc. filed a provisional patent application covering composition of matter, drug formulation and process of preparation claims for novel psilocybin derivatives.
Synthesis Institute BV raised $2.75 million to develop an end-to-end professional platform for psychedelic wellness and therapy.
Previously Announced Upcoming Listings
Field Trip Psychedelics Inc. announced a letter of intent with Newton Energy Corporation (TSX.V: NTN.H). In addition, the company plans to complete a brokered private placement of common shares at a price of $2.00 per common share for gross proceeds of between $14 million and $15 million.
Silo Wellness Inc. announced a proposed reverse takeover with Yukoterre Resources Inc. (CSE: YT). In connection with the transaction, the company will complete a private placement for gross proceeds of approximately $2.5 million.
Decriminalize Nature DC, the group behind the proposed Initiative 81 in Washington DC, collected more than 35,000 signatures in support of putting a psychedelics decriminalization measure on the general election ballot in November. Via WTOP.