Psyence Biomedical Will Undertake Psilocybin Clinical Trials For Palliative Care In Australia
Portfolio Pulse from Lara Goldstein
Psyence Biomedical Ltd (NASDAQ:PBM) has received approval from the Australian Health Research Ethics Committee to begin a Phase IIb study in Melbourne, Australia, focusing on the use of psilocybin for palliative care patients with Adjustment Disorder following a cancer diagnosis. The study, in partnership with iNGENū Pty Ltd, will test different doses of psilocybin combined with psychotherapy. Additionally, Psyence Group has undergone a business restructuring, including a spinout deal resulting in a 37% interest in PBM and the transfer of non-clinical business assets to reduce overhead.
March 11, 2024 | 11:02 pm
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Psyence Biomedical Ltd (NASDAQ:PBM) is initiating a Phase IIb study on psilocybin for palliative care and has undergone significant business restructuring, including a spinout deal and asset transfer to reduce overhead.
The approval to begin the Phase IIb study could position PBM as a leader in psilocybin research for palliative care, potentially boosting investor interest and stock price. The business restructuring, including the spinout deal and asset transfer, is likely to reduce costs and focus resources on core activities, which could improve financial health and investor sentiment in the short term.
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