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$CLXPF USF, Partners Obtain DEA Authorization to Study Psychedelics for CNS Disorders

In partnership with the University of South Florida (“USF”) and its chemical screening and purification facility, Psilera Bioscience has acquired approval from the DEA to study psilocin, which is an active psychedelic component found in psilocybin mushrooms and ayahuasca tea, psilocybin and DMT (N,N-dimethyltryptamine).

USF and Psilera join other universities across the United States that are also conducting psychedelic research on various psychedelic compounds. Psilera’s objective is to be the pioneer psychedelics company to develop patient-friendly and noninvasive DMT delivery methods.

The company’s CSO and co-founder, Dr. Jackie on Salm, explained that the company was focused on developing new delivery methods that increased treatment accessible to patients.

In order to get the DEA’s nod to study any drugs found in Schedule 1 of the CSA, researchers are required to avail information on the institution from which the studies will be conducted, the research protocol that will be used and their personal qualifications.

Von Salm, along with Psilera’s other co-founder Dr. Chris Witowski, received her doctoral qualifications from the University of South Florida. Von Salm and Witowski both studied the chemistry of natural products. The two based their biotech company startup in the University of South Florida Research Park, where they specialize in the development of medicinal psychedelic compounds.

Psilera Bioscience was established in 2019, and since then, the company, which is one of the members of the USF Connect incubation program, has chemically synthesized various compounds. The company’s DMT delivery device will be evaluated in future study partnerships while the Neuroscience Institute at USF will assess these psychedelic compounds’ effectiveness and safety.

Witowski, who also serves as CEO, stated that the company was happy to deepen its relationship with USF, adding that this milestone would improve how the scientific community understands psychedelics while also aiding in the development of next-gen treatment alternatives for this class of drugs. Additionally, he noted that the approval obtained from the DEA would allow Psilera to significantly speed up its drug formulations and neuromodulator pipeline into the phase of clinical development.

Earlier in 2016, the University of South Florida was elected as Florida’s first emerging preeminent state research university. The institution is in the highest ranked 10 institutions that are awarded patents each year and is among the highest in the country for academic research funding.

The USF incubator program hosts several biotech firms, and with the ongoing construction of additional facilities in the university’s research park, the number will only grow.

More than 700 million people around the world suffer from some form of mental health issue, and it is this massive population of patients that companies such as Cybin Inc. (NEO: CYBN) (OTC: CLXPF) would like to serve using various drugs under development, such as a sublingual film intended to be an alternative to swallowing pills for people with mental health illnesses.

NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (OTC: CLXPF) are available in the company’s newsroom at https://ibn.fm/CYBN

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Monday, March 8th, 2021 Uncategorized
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