- Leading UK scientists, policy group call for rescheduling of psilocybin amid looming mental health crisis
- Sent to the Home Office with statements of support from leading scientists, paper urges for psilocybin use on a research-only model
- Cybin Corp. to capitalize on international expansion of psilocybin use as a company active in both research, nonclinical spaces
The United Kingdom (“UK”) is joining other countries, including Canada, in a push to facilitate the wider use of psilocybin, a naturally occurring compound found in mushrooms. Focusing on psychedelic and nutraceutical products, Cybin Corp. is poised to leverage the growing global momentum the compound is gaining.
Recent clinical studies suggest that psilocybin may be a safe and effective drug for patients with certain treatment-resistant psychiatric illnesses (https://ibn.fm/dsIEN). Despite that, researchers claim their work is hindered by strict controls on the compound. The Adam Smith Institute and the Conservative Drug Policy Reform Group recently published a joint paper that calls for a review of the Schedule 1 status of psilocybin (https://ibn.fm/TMGvg). That status inhibits research efforts despite the compound’s potential to contribute to the treatment of several highly prevalent mental health disorders.
The paper is co-published and authored by leading researchers from prominent academic institutions including King’s College London and the University of Manchester. The authors of the paper propose the re-classification of psilocybin to Schedule 2 of the Misuse of Drugs Regulations 2001 on a research-only basis. Doing so would reduce current barriers to research, enabling the enormously needed exploration of novel mental health treatments by the UK’s scientists.
Psilocybin was used in the psychiatric treatment for resistant forms of depression, anxiety, and addictions before 1970. The drug was banned that year as a result of the U.S.-led war on drugs. Decades later, psilocybin is experiencing a slow but steady revival of research interest. Leading academic institutions are advocating for easier use of the compound in the academic and clinical setting (https://ibn.fm/ud5zY).
Consequently, countries around the world are becoming increasingly accepting of psilocybin use in a controlled setting. Recently, Canada’s health department has allowed its use for palliative care of terminally ill patients (https://ibn.fm/ZkBgz).
Big Pharma has scaled back investment in mental health research, failing to offer more effective treatments for health problems plaguing hundreds of millions of people worldwide (https://ibn.fm/jqSV4). Fortunately, innovative companies are stepping up to fill the growing need for novel psychiatric drugs.
Cybin already holds a unique strength in the psychedelics space. The company is responsible for some of the first published research on microdosing; i.e, the action or practice of taking or administering very small amounts of a drug to test or benefit from its physiological action while minimizing its potentially undesirable side effects. Microdosing sub-hallucinogenic amounts of psychedelic drugs including psilocybin has several potentially positive indications. As such, Cybin is ideally positioned to leverage the growing acceptance of psilocybin in mainstream space.
Cybin is active in two critical sectors: nutraceutical and pharmaceutical. In the nutraceutical market, the company’s wholly owned subsidiary Nature’s Journey focuses on adaptogenic mushroom products. Meanwhile, Cybin is an innovator in the stagnant pharmaceutical market, where it aims to become the first life science company to bring psilocybin medicine targeting major depressive disorder to market (https://ibn.fm/4a2Xw).
For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to Cybin are available in the company’s newsroom at http://ibn.fm/Cybin
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