PsyIndex Weekly Update

July 6, 2020 – July 10, 2020
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.

Market Performance

Weekly Performance: $85.70 (-12%)
Top Gainers

Top Decliners

Corporate News, Deals & Listings

  • 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

Industry Developments

  • 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.

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