Field Trip Psychedelics Inc. announced Tuesday the successful synthesis of FT-104, a novel compound that is believed to have psychedelic capabilities.
The conclusion comes after in-vitro and in-vivo tests confirmed that FT-104 interacts with the 5HT2A receptor, which is the main antagonist targeted by classic psychedelic drugs like LSD, psilocybin and mescaline.
FT-104 was chosen as the company’s drug candidate because it stands as a commercially viable alternative to naturally occurring psychedelics. Field Trip says the compound’s composition is unique and patentable, allowing for intellectual property protection, which cannot be obtained for traditional psychedelics like MDMA, LSD, psilocybin and mescaline.
The company expects to finish preclinical development by the second half of 2021 in order to advance to Phase 1 clinical trials.
On Friday, Field Trip wrapped up a reverse takeover with mining exploration company Newton Energy Corp. The company expects shares to be available on the CSE under the symbol “FTRP” on or about Oct. 7.