Featured content in this Issue:
Tempering Excitement Around Recent Raises
Compass Shares Cut of Open-Label PTSD Data
Other Stories: We bring you up to speed with dozens of other headlines you may have missed.
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Already this month we have seen two financing or dealmaking events among psychedelics companies that have rallied investors and company execs alike.
In the first week of May, a weary Reunion Neuroscience surprised many by announcing a $103M Series A round to progress its 4-HO-DiPT prodrug candidate through a suite of Phase 2 studies (see Reunion Neuroscience Gets a New Lease of Life with $103M Series A to Fund Phase 2 Studies of 4-HO-DiPT Prodrug).
Then, earlier this week, one of the largest pharmaceutical companies in the world—AbbVie—announced a collaboration and option-to-license agreement with Gilgamesh Pharmaceuticals. The financial terms of the deal see Gilgamesh receive a $65M payment along with up to $1.95 billion in aggregate option fees and milestones up for grabs (with ‘mid-single to low-double digit royalties on net sales). (See Breaking: AbbVie Inks Deal with Gilgamesh Pharmaceuticals.)
As one might expect, both news stories were met with broad excitement by psychedelic industry bods; many of whom touted the events as a sign that mainstream healthcare investors and big pharma firms were increasingly interested in psychedelics.
But a more sober appraisal might be warranted.
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Companies, organisations and drug candidates mentioned in this Bulletin: Reunion Neuroscience; Gilgamesh Pharmaceuticals; AbbVie; Compass Pathways; COMP360; Lykos Therapeutics; MDMA-AT; Pangea Bio; Panacea Plant Sciences; Enveric Biosciences; MindBio Therapeutics; Freedom Biosciences; Relmada Therapeutics; REL-P11; Delix Therapeutics; DLX-001; Journey Clinical; Mindful Health Solutions; GH Research; Awakn Life Sciences; Greenbrook TMS; BrainFutures.
