PSYCHED is now weekly!
As the psychedelics industry grows, so does the need for news. For this reason, our column covering the most important developments in medicinal psychedelics is now a weekly feature.
Mydecine To Acquire NeuroPharm
Functional fungi and psychedelics company Mydecine (CSE:MYCO) (OTC: MYCOF) announced Tuesday a definitive agreement to acquire 100% of NeuroPharm, a Canadian developer of psychedelic therapy.
NeuroPharm is focused on the development of treatments to meet the needs of veterans and frontline workers who often experience PTSD, depression, addiction, anxiety, and panic disorders as well as migraine and cluster headaches.
Mydecine will pay NeuroPharm with 9 million common shares valued at CA$0.70 (51 cents) per share, with restrictions on resale for 24 months. Mydecine will continue to fund NeuroPharm’s research for at least 18 months.
Beckley Psytech Raises Over $3M
British psychedelics company Beckley Psytech closed a Series A round of 3 million pounds ($3.77 million).
The proceeds will be used to “develop a pipeline of psychedelic drugs into licensed pharmaceutical medicines for treating psychiatric and neurological diseases.”
Beckley Psytech was co-founded by Lady Amanda Feilding, a English noblewoman who has been a prominent figure in …