Psyence Biomedical Ltd (NASDAQ:PBM) recently announced that its wholly-owned subsidiary, Psyence Australia (Pty) received full approval from the Australian Health Research Ethics Committee (HREC) to initiate its planned Phase IIb study in Melbourne, Australia.
The study will examine the use of nature-derived psilocybin as a treatment for Adjustment Disorder due to a recent cancer diagnosis in the palliative care context. Worldwide, an estimated 56.8 million people require palliative care annually, with a substantial number of these patients exhibiting a high burden of psychosocial distress after diagnosis.
Psyence Biomed partnered with Australia-based contract research organization iNGENū Pty Ltd to conduct the clinical trial.
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The Study
The study will include 84 patients and will test three different doses of psilocybin (25mg, 10mg and 1mg) paired with psychotherapy for a potential reduction of anxiety and stress, in turn bringing better outcomes for patients and lowering healthcare costs. Patient enrollment is planned for the second quarter of 2024, and first results are expected in 2025.
iNGENū CEO, …