Mycotopia Therapies, a company focused on psychedelic therapy, has recently announced the formation of ‘PsyBioMed-Australia,’ a joint venture between itself and Natural MedTech. Through a formal letter of intent, the joint venture company has begun clinical trials to gauge the utilization of psychedelics in the treatment of mental illnesses. The newly formed company is expected to build a research and development facility, coupled with a manufacturing facility, in Victoria, Australia. It plans to utilize technology procured from Ehave to analyze and capture data.
The partnership between the two companies aims to utilize psychedelics in the treatment of mental illnesses. Ultimately PsyBioMed wishes to achieve the optimum production level in psychedelic molecules while supplying them at competitive market costs and increasing accessibility towards the fields or healthcare institutions, pharmaceutical companies, and research organizations.
According to statistics from the Australian Institute of Health and Welfare, approximately 17%, i.e., 4.3 million of the Australian population, have received prescriptions for mental health medication. Moreover, an alarming percentage of those prescriptions were centered around antidepressant medications during 2018-19, of which there has been a surge over the past few years. Evidently, the Australian population fits the necessary criteria enabling therapy assisted by psychedelic treatment.
PsyBioMed aims to close the loop within the supply chain by producing psychedelics that fulfil Current Good Manufacturing Practice (cGMP). This would be done while simultaneously researching several diverse molecules that could transgress into Australia’s clinical practice.
Through the implementation of clinical trials for a range of conditions across Australia, Psychedelic-Assisted Psychotherapy is increasingly becoming available, provided it is accessed legally and in a medically supervised environment. As such, Psilocybin, MDMA, and Ketamine Assisted Therapies are being clinically researched through the $15 million that the Australian government has allocated from the Medical Research Future Fund (MRFF). This is being done to fully determine the impact, safety, and troubles faced with the following psychedelics compared to the already existing drugs. The research conducted by the Australian government will aim to decipher the effectiveness of psychedelic drugs versus present treatments.
With aims to mass-produce cGMP psychedelics, PsyBioMed-Australia is looking to procure permits, and licenses, allowing them to legally manufacture, sell, supply, and possess Schedule 8 and 9 drugs within Australia. Their Victoria-based facilities will be fitted to experiment with genetic approaches whilst applying both synthetic and mycology biology techniques within the stages of R&D and equipped GMP environments. The company hopes to provide medicine for human consumption, while working on developing IP and supplying necessary means for future clinical trials.
Through its partnership, PsyBioMed hopes to use universities, intellectual property, and several partners within the industry. Natural MedTech’s industry partners are leading developers within their own fields, respectively, while remaining increasingly passionate about conjuring therapies within the mental health spectrum.
Mycotopia Therapies, in turn, can provide PsyBioMed with blockchain technology through its strong relationship with Ehave. This is done through IP access and permits the capturing of detailed data sets in a compliant and secure manner. The data captured is necessary to (clinically) validate the more experimental, newer forms of therapy, inclusive of ketamine and psychedelic treatments. Moreover, patients will be able to own their data while this particular data capture permits successful N-of-1 type studies in line with the Royal Australian and New Zealand’s College of Psychiatrist Clinical Memorandum – Therapeutic use of psychedelic substances.
The CEO of Mycotopia Therapies, Ben Kaplan, stated, “It is estimated 4 million Australians experience a mental health disorder every year, and almost half of all Australians will be affected at some point in their lifetime. PsyBioMed-Australia will provide the opportunity to boost local research into potentially life-saving therapies while creating a supply chain for their distribution.”
In line with the two, Mark Hestermann, the CEO of Natural MedTech expressed, “Australia is often considered a lucky country, but we have one of the highest rates of mental ill-health globally. Something is wrong. I believe that people deserve better than to live with symptom management when there are more promising treatment options at our doorstep. Our mission is to break the symptom management cycle that’s all too prevalent in mental healthcare and offer alternative and meaningful solutions for people who are suffering.”
About Mycotopia Therapies
Mycotopia Therapies’ main aim is to heal people and help them retake possession of their lives. They believe healing is a journey of understanding the many causes of troubles and then working towards mental wellness through enhanced psychotherapy utilizing psychedelics. This is overseen by integrating professional practitioners within the mental wellness industry alongside advanced, modern technology. Psychedelic therapy is best described as a spiritual and well-rounded approach, which provides overall healing. It has demonstrated successful and effective treatment for many years.
About Natural MedTech
Specializing in biotechnology, Natural MedTech aims to yield optimum wellness and health by effectively utilizing modern advancements. Some of its many activities include drug development and actively participating and providing support to clinical trials to advance the overall clinical implementation of psychedelics. This is carried out alongside a vested interest in various other scheduled compounds possessing therapeutic value. Within Australia, Natural MedTech’s primary focus is to manufacture GMP psilocybin while providing contemporary solutions addressing the many health challenges faced by the public today.
While remaining focused on advancements within the psychedelic industry, Natural MedTech accepts that psychedelics are not the entirety of the picture. Thus, it also promotes seven other health agendas: Breathwork, Sleep, Mindfulness Meditation, Personalised Nutrition, Exercise, and Psychedelic Medicines.