Psychedelics substances such as psilocybin have been found to be helpful in treating obesity and weight issues. Healthline found that more than one-third of adults in America are obese. Nearly 17% of children, ages 2 to 19, are also considered obese. Additionally, obesity has been linked to more than 60 chronic illnesses, including cancer, stroke, heart disease and type 2 diabetes. Worldwide, obesity has gotten worse, and if a substance such as psilocybin can help fight obesity and weight issues, we may be looking at a potential game changer.
Various psychedelic companies have been studying psychedelics, looking for ways to treat mental health conditions using these substances; some of these companies include NeonMind Biosciences, Compass Pathways, Mind Medicine Inc., Tryp Therapeutics Inc. and Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF). Of these companies, NeonMind Biosciences has developed two synthetic psilocybin candidates: one that suppresses appetite and another that boosts an individual’s ability to change behaviors that cause weight loss via psychedelic-assisted cognitive therapy.
NeonMind CEO Rob Tessarolo revealed the company’s research and development activities, as well as its plans to further develop its psilocybin-based synthetic drug candidates for the treatment of compulsive eating disorder and obesity, which could also be used to help individuals lose weight. Tessarolo explained that NeonMind was focused on developing treatment modalities for individuals dealing with obesity, adding that psychedelic therapy possesses the potential to establish positive behaviors in the long term that may affect food intake and other lifestyle changes that influence weight management. This is where psilocybin comes in, as its administration in low doses may help control satiety and appetite.
Tessarolo stated that the company had three objectives this year:
- To launch an extensive integrated development plan in support its psilocybin programs and gap analysis to Health Canada/U.S. Food and Drug Administration for new drug applications
- To congregate global talent and raise enough capital to accelerate and advance its integrated development plan
- Begin developing psilocybin for the treatment of obesity
The company also added new members to its research team, all with various qualifications from various fields. Those additions include Ernie Ho, Clive Ward-Able, Albert Garcia-Romeu and Philippe Martin.
Furthermore, the company recently publicized its engagement with Certara Inc., who would occupy the position of the company’s external development contractor. Certara is a worldwide leader in drug discovery and development, with 90% of new biologic and drug approvals by the FDA being received by Certara consumers. Tessarolo added that after six weeks of the company’s research and development team finalizing a fully integrated development program, the company would begin executing the steps needed to develop a psychedelic therapy for weight management and obesity.
The market outlook for psychedelic-based therapies is promising given that approximately 700 million people around the globe suffer from some form of mental illness or addiction. The medicines and delivery modalities being developed by Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) aim to address the medical needs of those people.
NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) are available in the company’s newsroom at https://ibn.fm/CYBN
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