Psyence Biomedical’s Psyence Australia receives HREC approval

Psyence Biomedical announces that its wholly-owned subsidiary, Psyence Australia Ltd, has received full approval from the Australian Health Research Ethics Committee, HREC, to initiate its planned Phase IIb study in Melbourne, Australia. The study will examine the use of nature-derived psilocybin as a treatment for Adjustment Disorder due to a recent cancer diagnosis in the palliative care context. Worldwide, an estimated 56.8 million people require palliative care annually, with a substantial number of these patients exhibiting a high burden of psychosocial distress after diagnosis. “We are very pleased to have received HREC’s approval to initiate this clinical trial in the field of palliative care that, if successful, will enable us to seek a paradigm shift in the treatment of patients with life-limiting illnesses, improving quality life and elevating the standard of care,” said Dr. Neil Maresky, Psyence Chief Executive Officer. “It is a privilege to conduct this pioneering research with nature-derived psilocybin that may result in significant improvements in patients’ lives. HREC approval represents an important milestone for Psyence, and we can now proceed to initiate this important trial as expeditiously as possible.”