Psyence Biomed, a division of Psyence that specializes in natural psilocybin products, has exported its drug candidate, PEX010, to Australia for an upcoming Phase IIb clinical trial. The trial will evaluate nature-derived psilocybin as a potential treatment for adjustment disorder in palliative care patients with advanced cancer diagnoses.

The Phase IIb study will assess two therapeutic doses of nature-derived psilocybin (10 mg and 25 mg) against an active low-dose comparator (1 mg) in 84 patients, along with psychotherapy. 

Additionally, Psyence Biomed has terminated its licensing agreement with Filament Health, which covered the supply and commercialization of PEX010. Filament Health will continue to supply PEX010 for the upcoming Phase IIb trial, while Psyence Biomed evaluates new supply and license agreements with suppliers in the UK and North America.

Analyst QuickTake: Other partners involved in the Phase IIb clinical trial—with whom Psyence Biomed entered into a partnership in April 2024 —are Fluence, a company providing training for psychedelic therapy, and iNGENū, an Australia-based clinical research organization.