As Psycheceutical prepares to begin clinical trials for its novel NeuroDirect™ ketamine topical to treat PTSD, the company is named to Life Science Review's yearly Top Biotech Start-Up List
MIAMI, April 13, 2023 /PRNewswire/ -- Psycheceutical Bioscience, Inc ("Psycheceutical" or the "Company") (OTC: BWVI), a bioscience company dedicated to developing cutting-edge technologies for the next generation of mental health treatments, was named in Life Sciences Review's Top 10 Biotech Startups for 2023. Psycheceutical earned recognition for its significant progress in developing innovative patented delivery technologies that are intended to increase the safety and efficacy of psychedelic compounds.
According to Life Sciences Review, "Psycheceutical's combination of innovative technologies and neurological experience helps to differentiate them in the bioscience market. Targeted drug delivery to the brain can both enhance compound efficacy and mitigate side effects. Psycheceutical achieves this with two patented technologies, the NeuroDirect™ topical delivery system and Janus particles. Psycheceutical's focus on delivery technology upholds enormous potential."
"We are proud to receive this distinction from Life Sciences Review and are honored to join the list of so many exciting biotech startups," said Psycheceutical CEO Chad Harman. "This type of award drives us to move as rapidly as possible into clinical phase testing and development so that more people can access the profound benefits of psychedelic medicine, with non-intimidating and cost-effective treatment options."
The company's novel NeuroDirect™ ketamine topical cream to treat PTSD has already shown positive pre-clinical results. Data from a recently published study in Drug Development and Delivery Journal supports the potential of NeuroDirect ketamine topical cream as an improved treatment for PTSD. In the study of 100 patients who didn't respond to traditional therapies, more than 80% trying NeuroDirect ketamine topical found it effective at treating their PTSD symptoms. "Discernible improvement[s] in anxiety, depression, paranoia and unrealistic fear, focusing issues, cloudy thinking, neuropathic pain, and other such symptoms were noted within 8-10 minutes of topical drug application. No psychogenic effects, such as hallucinations or dissociative phenomena, were experienced by any patient. To the contrary, patients indicated their thought processes were clearer, more focused, and that they were more keenly aware of surroundings."
Psycheceutical's unique delivery method for psychedelic compounds has caught the attention of industry trailblazers like Rick Doblin, founder of the Multidisciplinary Association for Psychedelic Studies (MAPS). "I've been working in psychedelics for more than 40 years, and it's rare for me to come across something unique like the NeuroDirect topical cream that is currently being developed by Psycheceutical with the goal of delivering a psychedelic compound without a psychedelic experience or negative side effects," noted Doblin." Psycheceutical recently announced plans to begin clinical trials in Q2 in Australia for its NeuroDirect ketamine topical cream as a treatment for PTSD. "I'm curious to learn about the results of Psycheceutical's upcoming clinical trials in Australia and to further evaluate this potential treatment. I look forward to reviewing more research data," said Doblin. "Sometimes the biggest breakthroughs are right under our noses."
About Psycheceutical Bioscience, Inc.
Psycheceutical Bioscience, Inc. is developing cutting-edge technologies to advance the safe and effective delivery of psychedelic pharmaceutical medicines. Powered by a team of FDA drug development veterans, biotechnology experts, and the top minds in the psychedelic industry, Psycheceutical is on a mission to commercialize its precision dosing technologies to provide affordable, life-saving treatments to anyone suffering from mental health disorders or central nervous system diseases. Learn more at Psycheceutical.com.
Forward-Looking Statements:
Certain statements in this news release related to the Company constitute "forward-looking information" within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These uncertainties include, but are not limited to, (i) general market growth for and acceptance of psychedelic-inspired medicines, (ii) capital and credit availability and market volatility, (iii) general economic conditions, (iv) governmental approvals and compliance with regulations, (v) product research and development and clinical trial risks, including the transferability to the US FDA of trial results from trials conducted outside of the US (vi) incorrect underlying assumptions, and (vii) our future business development, results of operations, and financial condition. These statements generally can be identified using forward-looking words such as "will," "may," "should," "could," "intend," "estimate," "plan," "anticipate," "expect," "believe," "potential" or "continue," or the negative thereof or similar variations. All information provided in this press release is as of the date of this press release, and we undertake no duty to update such information, except as required under applicable law.
Contact:
Kaia Roman, VP, Strategy & Communications
kaia.roman@psycheceutical.com
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SOURCE Psycheceutical, Inc.
