Psychedelics Briefs: NeonMind to Launch Clinics, Delix Secures $70 Million to Develop Psychdelics Analogs

NeonMind Biosciences, a Vancouver, British Columbia-based integrated drug development and wellness company, this week announced plans to establish a national network of specialty clinics offering psychedelic-based psychiatry treatments. The company said in a news release that it is in negotiations with potential partners to launch its first locations in 2022, with more to follow in 2023.

In the short term, NeonMind plans to focus its efforts on scaling its services to address demand for treatments including ketamine/esketamine and neurostimulation. The company plans to add treatment modalities, such as MDMA for anxiety disorders, psilocybin for depression disorders, and a proprietary psychedelic treatment for weight management, as they receive regulatory approvals.

“NeonMind’s clinics will also adopt these treatments and serve as future access points to psychedelic modalities, providing important strategic exposure to the psychedelics market,” the company said in its release.

Delix Raises $70 Million for Developing Psychedelic Analogs

Delix Therapeutics announced that it has closed a $70 million Series A financing round that will fund the development of its psychedelics-inspired drug discovery platform of novel compounds known as psychoplastogens. Funding was led by ARTIS Ventures, RA Capital Management, and founding investor OMX Ventures, along with a syndicate of life sciences and psychedelic investment funds.

Proceeds from the funding round are expected to be used to advance 2 lead candidates through Phase I clinical trials. Delix’s first development candidates to emerge, known as DLX-1 and DLX-7, are undergoing safety and toxicology studies, which will pave the way for clinical trials to begin in 2022.

“This funding is an important step in transforming our years of scientific research and discoveries into innovative treatments for patients in need,” Professor David E. Olson, co-founder and Chief Innovation Officer of Delix Therapeutics, said in a release. “Our preclinical data to-date suggest that our compounds are unlike anything currently in psychiatrists' arsenals and have the potential to treat a wide range of conditions.