Medicinal mushroom company Champignon Brands Inc. (CSE: SHRM) has entered into a definitive agreement to acquire Tassili Life Sciences Corp. in an all-stock deal. Tassili will receive 16 million shares, which is roughly C$7.3 million.
The acquisition will expand Champignon’s preclinical trial pipeline, as well as its aggregation of broad intellectual property related to the development of novel psychedelics therapeutics and their delivery systems, targeting multiple pathological psychological diseases.
Tassili working to develop effective psilocybin-based therapeutics for the treatment of mild traumatic brain injuries (mTBI) and/or post-traumatic stress disorder (PTSD). The company is doing this in partnership with a multidisciplinary team of scientists and physicians at the University of Miami.
Under a collaborative research agreement with the University of Miami’s Miller School of Medicine, Tassili will conduct preclinical studies and eventually human clinical trials with the objective of demonstrating the safety and efficacy of the combination of psilocybin and cannabidiol in treating mTBI with PTSD or standalone PTSD. The final results are expected in 2021.
Under the terms of the agreement with U of M, Tassili will retain all exclusive rights to inventions, data and IP discovery resulting from the studies which are being led by Dr. Michael Hoffer, professor of otolaryngology and neurological surgery at University of Miami’s Miller School of Medicine.
“Mild traumatic brain injury, especially concussion, is a significant cause of morbidity worldwide,” said Dr. Hoffer. “What many do not realize is that TBI often occurs alongside PTSD. Up to 40% of people impacted by mTBI, a head injury causing a temporary change in mental status or consciousness, or TBI in general, also suffer from PTSD. This combination of mTBI and PTSD is even more common in U.S military members and presents a vast patient population to service and potentially heal with our novel therapeutics under development.”
PSILOCYBIN PATENT PORTFOLIO
George Scorsis, Chairman of Tassili, said in a statement, “Our development program is championed by the University of Miami, a major U.S. research institution with a worldwide reputation in TBI research and treatment. Working with the University of Miami we aim to shift the mainstream perceptions about psychedelics by establishing the scientific underpinnings of the two compounds’ medical benefits and then developing a prescription-based therapeutic medicine for this combined disorder and a number of other disorders on the horizon, such as obsessive-compulsive disorder (OCD).”
In addition to the medical trials, Tassili has filed four provisional patents, one of which relates to its ongoing study with the University of Miami. In collaboration with university research institutes, Tassili said it intends to demonstrate that the clinical and physiological effects in PTSD and obsessive-compulsive disorder (OCD) is enhanced by timely measured dosages of psilocybin and cannabidiol, with superior clinical results as measured by objective outcomes.
The company said its vision is to administer a proven and proprietary combination of psilocybin and CBD in certified drug as well as psychotherapeutic clinics once human clinical trials are completed and the combination is approved by applicable regulatory agencies.
Management also believes that increased specificity to ensure approved, appropriate, standardized and dignified methods of treatment will result from novel delivery systems suiting recovery solutions to specific indications. Three of the company’s provisional patents relate to this important part of the drug to patient relationship.
The post Medical Mushroom Company Champignon Brands To Acquire Tassili Life Sciences appeared first on Green Market Report.