Canadian government supports MYND Life Sciences research on psilocybin

The National Research Council of Canada Industrial Research Assistance Program is providing advisory services and funding.

MYND researchers want to examine how psilocybin can treat brain inflammation and depression. fizkes/Getty Images

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A biotech company dedicated to the development of psychedelic medicines has received backing from the government of Canada.

The support comes in the form of advisory services and funding for MYND Life Sciences Inc.

This will assist the Kelowna, B.C.-enterprise in its research on psilocybin.

MYND is looking at how the psychoactive element found in psychedelic or magic mushrooms can treat brain inflammation and depression.

Online, the company explains that there is a connection between the two conditions, as people dealing with depression show higher levels of inflammatory indicators.

“Traditional treatments have focused solely on symptom suppression and not the root cause and promote brain health,” MYND states on its website.

In a media release Tuesday (November 30), the company founded by Wilfred Jefferies and Dr. Lyle Oberg announced that the support comes from the National Research Council of Canada Industrial Research Assistance Program.

The company will benefit from advisory services as well as up to $45,600 in funding.

“We are taking a broad-based, measured approach to harness private capital investment, invaluable university research infrastructure, and guidance backed with funding from important government research enablers to tackle some of the most serious diseases of the brain and central nervous system,” Oberg stated in the media release.

Oberg is a medical doctor by profession, and he is the CEO of MYND.

The company’s release stated that the research project is titled “Phytochemical-analog(s) as a novel method for management of treatment resistant depression”.

“The objective of the research and development is to determine how psilocybin analogs target a particular gene pathway to modulate brain function,” the release explained.

The research runs from November 2021 to March 2022.

Jefferies works as MYND’s chief science officer.

On June 10 this year, the Kelowna company announced that it has filed additional provisional patents that utilize psilocybin analogs to target clinical depression.

In a media release at the time, Mynd indicated that it has two flagship drugs in the development pipeline: MYND-604 and MYND-778.

“MYND continues to execute upon its multi-phase drug development strategy to create a novel drug discovery platform and research on the potential efficacy of psychedelic molecules to address unmet mental health needs; dosing control for enhanced drug delivery; and a potential novel diagnostic and treatment regiment,” Jefferies stated in the June 10, 2021 release.

Follow Carlito Pablo on Twitter: @carlitopablo

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