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        New York-based Mindbloom has partnered with meditation app Happier to launch &quot;Continuous Transformation,&quot; which combines ketamine therapy with mindfulness practices.
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        Through this partnership, Mindbloom clients will receive free access to Happier's 500+ guided meditations from 60+ teachers, while Happier users will get discounted access to Mindbloom's programs, including 12 pathways for various mental health challenges. Additionally, phase two of the partnership, &quot;Meditation for Mindbloom, Powered by Happier,&quot; will be launched next year to integrate Happier meditations into the Mindbloom app.
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        <b>Analyst QuickTake: </b>
        This partnership strengthens Mindbloom's foothold in the psychedelic therapy market while broadening its reach beyond the 500,000 clients it has already served. By integrating mindfulness practices, Mindbloom is poised to offer a more holistic approach to mental health care.
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    <a href="https://www.prnewswire.com/news-releases/mindbloom-and-happier-break-new-ground-with-the-ultimate-fusion-of-ketamine-therapy-and-mindfulness-302307062.html">
      <b>Press release</b>
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Psychedelic Medicine

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 <p>New York's Mindbloom has teamed up with meditation app Happier to present the "Continuous Transformation" program. This initiative integrates ketamine therapy with mindfulness methods. </p>
 <p>In this collaboration, Mindbloom customers can use Happier's 500+ guided meditations from more than 60 instructors at no cost. In return, Happier subscribers receive reduced prices for Mindbloom's programs, which cover 12 different routes for a variety of mental health challenges. The second phase, named "Meditation for Mindbloom, Powered by Happier," is planned to be introduced the following year, incorporating Happier meditations into the Mindbloom app.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This partnership strengthens Mindbloom's foothold in the psychedelic therapy market while broadening its reach beyond the 500,000 clients it has already served. By integrating mindfulness practices, Mindbloom is poised to offer a more holistic approach to mental health care.</p>

Mindbloom partners with Happier to combine ketamine therapy with meditation services

<div>
 <p>Numinus Wellness, a Canadian psychedelic company, has agreed to sell its five wellness clinics in Utah to Stella, an interventional psychiatry practice, for USD 3.5 million. As per the agreement, Numinus will receive approximately USD 2.1 million upfront, about USD 0.8 million in monthly installments through 2025, and up to USD 0.7 million in deferred compensation.</p>
 <p>Following the sale, Numinus plans to transition to an asset-light business model and will focus on developing tech-driven solutions. The companies will collaborate on a data-sharing initiative to create a clinic management platform with the aim to streamline operations and support insurance reimbursement processes.</p>
 <p>Stella, which specializes in treating PTSD, anxiety, and depression through biological modalities, currently operates 12 mental health clinics. The company will assume control of Numinus' Utah facilities that provide ketamine therapy and Spravato treatments.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This deal represents a strategic shift for Numinus as it navigates ongoing financial pressures. The company <a href="https:<br>
//sp-edge.com/updates/36056"> recently </a> sought a temporary Management Cease Trade Order to address delays in finalizing its audited financial statements.</p>

Numinus Wellness sells Utah clinics to Stella for USD 3.5 million

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 <p>Numinus Wellness, a Canadian psychedelic company, has applied for a temporary Management Cease Trade Order (MCTO) from the British Columbia Securities Commission for its annual financial statement filing. The need for the MCTO arises due to unforeseen delays in finalizing its audited financial documents for the fiscal year ending August 31, 2024. The company anticipates to complete the annual filings before the year ends.</p>
 <p>The company has put an insider trading blackout into effect and promises to publish bi-weekly status reports until the completion of the annual filings. Furthermore, Numinus confirmed it is not undergoing any insolvency proceedings.</p>
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Numinus Wellness seeks Management Cease Trade Order

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 <p>The US Food and Drug Administration (FDA) has given positive feedback to CaaMTech about its CT-4201 psilocin pro-drug program. Importantly, the FDA endorses CaaMTech's strategy to deal with "functional unblinding" in drug trials. </p>
 <p>CT-4201 is a drug in development, aimed at treating major depressive disorder (MDD). The design of CT-4201 aims to enhance the pharmacokinetic properties of psilocybin. Psilocybin is a component found in "magic" mushrooms.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The FDA's endorsement is particularly significant as other psychedelic drug developers, including <a href="https:<br>
//sp-edge.com/updates/32520"> Lykos Therapeutics </a> and <a href="https:<br>
//ir.compasspathways.com/News--Events-/news/news-details/2024/Compass-Pathways-Announces-Third-Quarter-2024-Financial-Results-and-Business-Updates/default.aspx#:<br>
~:<br>
text=Cash%20and%20cash%20equivalents%20were,as%20of%20December%2031%2C%202023."> COMPASS Pathways </a> , have faced regulatory setbacks due to functional unblinding concerns.</p>

CaaMTech receives FDA endorsement for psilocin depression drug development

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 <p>Atai Life Sciences N.V., a clinical-stage biopharmaceutical company, experienced a net loss of USD 26.3 million in Q3 2024. The company, which develops psychedelic treatments for mental health disorders, emphasizes progress in research throughout the quarter, including FDA approval for Phase II trials of VLS-01 buccal film DMT and EMP-01. VLS-01 is designed to treat treatment-resistant depression, while EMP-01 targets social anxiety disorder.</p>
 <p>Despite a significant net loss, Atai remains hopeful due to its diverse pipeline and anticipates positive outcomes from forthcoming clinical trials.</p>

</div>

Atai Life Sciences reports Q3 2024 net loss amid pipeline progress

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 <p>Cybin Inc., a clinical-stage neuropsychiatry company, announced that CEO Doug Drysdale and CMO Amir Inamdar will host a conference call and webcast on November 18, 2024.</p>
 <p>The executives will present 12-month efficacy and safety data from the company's Phase II study of CYB003 in major depressive disorder, along with an overview of its Phase III PARADIGM program.</p>
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Cybin to present Phase II depression treatment data

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 <p>Enveric Biosciences, a biotech company specializing in neuroplastogen development, has entered into a licensing agreement with MycoMedica Life Sciences, a clinical-stage biotech company. This agreement involves Enveric’s EVM201 program, which includes the drug candidate EB-002.</p>
  
<p>According to the agreement, MycoMedica gains global exclusive rights to develop EB-002, a synthetic prodrug aimed at treating neuropsychiatric disorders. The contract also stipulates potential milestone payments that could reach up to USD 62 million. Additionally, there will be tiered single-digit royalties on any future sales. The responsibility for all future development and commercialization will be assumed by MycoMedica.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> In <a href="https:<br>
//sp-edge.com/updates/31412"> July 2024 </a> , Enveric Biosciences secured a US patent for EB-002. This partnership enables Enveric to benefit from MycoMedica's commercialization of EB-002 through milestone payments and royalties, as it advances for neuropsychiatric treatments.</p>

Enveric Biosciences enters into licensing agreement with MycoMedica Life Sciences for EVM201 program

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 <p>Voters in Massachusetts rejected a ballot measure, Question 4, which proposed the decriminalization and home cultivation of five psychedelic substances for adults over 21. Approximately 57% voted against the measure.</p>
 <p>The Coalition for Safe Communities, which was against the measure, pointed to the lack of medical oversight, home growing provisions, and insufficient research on the impact of these substances as main reasons for the defeat.</p>
 <p>Despite the defeat, supporters of the initiative have committed to ongoing work with legislators to ensure more access to psychedelics. They recognized that the home-growing provision likely attributed to the rejection of the measure.</p>
 <p>The rejection of the measure in Massachusetts comes at a time when other states pass through psychedelics reform. Oregon sanctioned the decriminalization of psychedelics in 2020 and aims to set up treatment centers in 2023. Similarly, Colorado passed laws decriminalizing similar substances in 2022.</p>
 
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Massachusetts to vote on psychedelics legalization

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 <p>Enveric Biosciences, a neuroplastogen development biotechnology company, recently announced the addition of five US patents and the allowance of three patent applications to its EVM301 portfolio.</p>
 <p> These latest patents, numbered 11,845,727, 11,858,895, 11,891,359, 11,998,557, and 12,128,058, have increased the total count of issued US patents protecting the EVM301 portfolio and the company's library of drug candidates to nine.</p>
 <p>According to CEO Dr. Joseph Tucker, this expanded patent portfolio includes a broad variety of tryptamine derivative molecules, such as carboxylated, aminated, prenylated, glycosylated, nitrilated, and halogenated derivatives.</p>
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Enveric Biosciences expands EVM301 patent portfolio with new issuances

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 <p>UK-based psychedelic company, Compass Pathways, is making major changes, laying off 30% of its workforce. This decision is driven by the company's intent to concentrate on its principal project: the development of COMP360, a psilocybin-based therapy aimed at treatment-resistant depression (TRD). </p>
  
 <p>In order to effectively allocate its resources towards the COMP360 project, Compass Pathways is putting a temporary hold on all other pipeline projects. The company has also revised its data readout schedules for ongoing Phase III trials. The updated timeline suggests that trial COMP005's data will be available in the second quarter of 2025, and trial COMP006's results will be released in the latter half of 2026. The need for these delays stem from the logistical issues encountered in managing patient flow, scheduling, and initiating test sites in Europe. </p>
  
</div> <p><b>Analyst QuickTake:<br>
 </b> This move follows the recent FDA <a href="https:<br>
//sp-edge.com/updates/32520"> rejection </a> of Lykos Therapeutics' application for MDMA-assisted therapy for PTSD in August 2024, which led Lykos to <a href="https:<br>
//sp-edge.com/updates/32707"> lay off </a> around 75% of its workforce. Compass appears to be taking a similar approach, aiming to stabilize resources to support an eventual approval application.</p>

All Updates

Mindbloom partners with Happier to combine ketamine therapy with meditation services

Numinus Wellness sells Utah clinics to Stella for USD 3.5 million

Numinus Wellness seeks Management Cease Trade Order

CaaMTech receives FDA endorsement for psilocin depression drug development

Atai Life Sciences reports Q3 2024 net loss amid pipeline progress

Cybin to present Phase II depression treatment data

Enveric Biosciences enters into licensing agreement with MycoMedica Life Sciences for EVM201 program

Massachusetts to vote on psychedelics legalization

Enveric Biosciences expands EVM301 patent portfolio with new issuances

Compass Pathways cuts 30% of workforce to focus on depression drug

Psychedelic Medicine

Mindbloom partners with Happier to combine ketamine therapy with meditation services

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