Last week, the first psychedelic therapy clinic in the province launched in Calgary. The clinic is located in northwest Calgary and will be used as a mental health professional training center. Dr. Ravinder Bains, who is the facility’s chief medical officer, will be overseeing the psychedelic therapy.
In an interview, David Harder, CEO of the ATMA Urban Journey Clinic, stated that the clinic was the result of years of a lot of studies and research. He noted that psychedelics did not work in the same way that standard psychotic medications or antidepressants worked.
Harder explained that while conventional medications prescribed for conditions such as PTSD, anxiety or depression often made a person numb or made them suppress their emotions, psychedelics brought these emotions to the surface, which made it easier for therapists to work with affected individuals and help them deal with the issues that affected them.
Tony White, a cancer sufferer in January became the first individual to receive federally approved psilocybin mushroom treatment in Alberta, disclosed that the psychedelic treatment had helped him release some of the depression and anxiety he’d been plagued with since he was diagnosed with terminal cancer. Later in mid-January, White revealed that he’d felt at peace immediately after the treatment had been administered as well as afterwards.
From the ongoing clinical trials, psilocybin, which is the active psychedelic component in magic mushrooms, has shown a lot of potential in helping alleviate end-of-life distress for cancer patients. Since August 2020, Health Canada has approved 20 exemptions to cancer patients to treat their end-of-life distress.
At the moment, Health Canada only grants exemptions that permit one-on-one psilocybin therapy sessions for patients who are terminally ill. The new clinic will continue its operations with this mandate in place, although Harder hopes that the options will increase with time.
Harder revealed that they were also applying on behalf of some individuals suffering from mental health conditions such as PTSD, anxiety and depression, adding that he hoped that Health Canada would approve these applications.
He also observed that while the clinic would offer palliative care therapy at no cost, only psilocybin therapy would be administered in the clinic for now. He explained that this was because it was challenging to find psychedelics in a pure state as they’re often laced with cutting agents and fentanyl.
Still in Canada, Cybin Inc. (NEO: CYBN) (OTC: CLXPF) has eight provisional patents, all connected to psychedelic medicines. For example, one is for technology to nebulize psychedelic remedies while another is for oral film technology to eliminate the need for people to swallow pills.
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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