Psyence Biomedical announces export of nature-derived psilocybin to Australia

Psyence Group announced that its NASDAQ-listed associate, Psyence Biomedical has announced the export of nature-derived psilocybin to Australia and provided an update on its upcoming Phase IIb clinical trial. According to a news release issued by Psyence Biomed on Wednesday, July 24, it has made substantial progress in preparing for its Phase IIb study, and reported that all parties responsible for the carrying out of the study are poised to initiate the study imminently. The successful export of Psyence Biomed’s drug candidate, PEX010, is expected to activate the enrollment of patients for the study. The randomized, double-blind, placebo-controlled Phase IIb study will evaluate two therapeutic doses of nature-derived psilocybin against an active low-dose comparator in 84 patients in conjunction with psychotherapy. Psyence Biomed states in this news release that it “aims to execute an efficient yet rigorously designed study that, if successful, would best support advancement into future late-stage studies.” Psyence Group currently holds 5,000,000 common shares in Psyence Biomed, equal to an approximate interest of 30.25%.