LOVE Pharma acquires Microdoz Therapy, en route to developing psilocybin-assisted treatment for cannabis use disorder

LOVE Pharma acquires Microdoz Therapy, en route to developing psilocybin-assisted treatment for cannabis use disorder

2021.11.25

LOVE Pharma Inc. (CSE: LUV) (FSE: G1Q0) is committed to offering a fresh and trustworthy perspective to the world of pharmaceuticals. Its goal is to enhance both sides of the wellness coin by offering naturally occurring therapeutics backed by scientific research.

The Vancouver-based company is planning on commercializing at least half a dozen new products in tranches, last month rolling out the first two, Bloom and Auralief.

A third product about to launch soon is a psilocybin delivery system, administered under the tongue, that LOVE Pharma is developing with a US pharmaceutical company partner.  

This week LOVE announced it has executed a letter of intent (LOI) to acquire 100% of MicroDoz Therapy Inc., which has an exclusive partnership and license with a world-leading university to conduct a landmark study into the efficacy of psilocybin-assisted treatment of cannabis use disorder. Upon the agreement closing, the company expects to release the details of the program and university partner.

The deal specifies that CAD$1 million in LOVE Pharma shares are payable at $0.05 per share, with half due at the close of the transaction anticipated in 30 days, and the remaining half to be paid in four equal payments over two years, subject to the completion of milestones set out in the agreement.

“Science and efficacy are paramount to our strategy, as a result we seized the opportunity to acquire MicroDoz to expedite what will be a landmark study with a world-leading university to establish our Biosynthetic Psilocybin Infused Oral Strip as a product with the highest standard of efficacy, establishing the highest level of consumer confidence,” said Zach Stadnyk, LOVE’s President and CEO, in the Nov. 23 news release.

Prominent research facilities in the US and the UK have been studying the efficacy of psilocybin in treating a number of debilitating conditions. They include a recent study at Imperial College London which found that psilocybin performed as well as Lexapro, a widely used antidepressant; and a 2020 clinical trial at Johns Hopkins University’s Center for Psychedelic & Consciousness Research that suggested psilocybin with therapy is effective in treating Major Depressive Disorder (MDD).

At Johns Hopkins, research has already demonstrated the therapeutic effects of psilocybin in people dealing with addictions, stress caused by life-threatening diseases, and treatment-resistant depression.

Johns Hopkins is currently studying the effectiveness of psilocybin as a therapy for opioid addiction, Alzheimer’s disease, post-traumatic stress disorder (PTSD), post-treatment Lyme disease syndrome, anorexia nervosa and alcohol use in people with major depression.

“Considering the incredible advancement of psychedelics (most notably, psilocybin) in the health and wellness market, LOVE Pharma’s excitement about partnering with a US-based pharmaceutical company — developing the technology behind this muco-adhesive strip as a delivery system for psilocybin — is palpable. We recognize the need for discreet, consumer-friendly applications, and with its delivery of consistent dosing, this sublingual strip hits all the marks,” said LOVE Pharma COO Joshua Maurice in the Oct. 20 news release.

Regarding cannabis use disorder, the condition has been introduced to the Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, or DSM-5. It refers to the possibility of people being negatively impacted by marijuana use, with them either being addicted or not.

According to Very Well Mind, Cannabis dependence expert Dr. Alan Budney reviewed studies of cannabis withdrawal and found that both lab studies of inpatients and studies of outpatients consistently showed a physical withdrawal syndrome pattern in cannabis users who were discontinuing the drug that paralleled that of other drugs which are well recognized to be addictive, such as cocaine and heroin. Withdrawal symptoms begin within 24 to 48 hours of not using cannabis, peak within four to six days, and last for one to three weeks.

In an earlier interview with AOTH, Maurice explained how so-called magic mushrooms are commonly eaten in a psilocybin-infused edible like a chocolate, or drunk in a tea, but that is not a clinical-wide distribution of the active ingredient.

“So if you can imagine we mainstream psychedelics down the road say 10 years, and 30-40% of the population are taking these within North America, the UK, the EU, the way you get to that point is by creating a consumer form factor that is acceptable and interesting but also comfortable and convenient,” he told me.

Conclusion

Psychedelics are defined as a class of psychoactive substances that produce changes in perception, mood and cognitive processes. There are many different kinds of psychedelics; some occur naturally (in trees, vines, seeds, fungi and leaves), while others are made in laboratories.

In recent years, the psychedelic wellness industry has received a much-welcomed boost as behavioral health clinicians and patients are becoming more willing to try alternative treatments, including psychedelic drugs such as psilocybin, ketamine, LSD and MDMA.

As such, the global psychedelic drug market is expected to grow rapidly, rising to $69 billion by 2026, according to new financial data from Research and Markets. This figure is also much higher compared with its previous estimate of $10.75 billion.

Data Bridge Market Research analyses that the market is growing at a CAGR of 13.3% from 2021 to 2028 during its early stages.

These forecast figures for various market sectors bring to light just how big the wellness industry is about to get in the coming years, especially with global health concerns including covid-19 continuing to invade our daily lives.

This presents tremendous opportunities for companies that are developing health products which can perfectly align with consumers’ psychological and physical needs in an ever-changing industry.

To me, LOVE Pharma’s patent-pending psilocybin-infused muco-adhesive sublingual strip looks extremely promising from the point of view that many people are already “micro-dosing” with psilocybin and realizing the many health effects of the formerly taboo magic mushroom ingredient. Capable of altering space and time, causing visual distortions, euphoria and mystical experiences, research into psilocybin suggests it can also be used to treat a variety of psychological disorders, including depression, OCD, end-of-life distress and addictions.

While there are a growing number of companies in the new wellness space, all hoping to capitalize on the mainstreaming of psychedelics and CBD, what seems to set LOVE Pharma apart is their under-the-tongue strips which I agree is a convenient and effective way to deliver the active ingredients sought, whether that is CBD, THC or psilocybin.

Love Pharma Inc.
CSE: LUV; FSE: G1Q0
Cdn$0.04, 2021.11.23
Shares Outstanding 312.17m
Market cap Cdn$8.7m
LUV website

Richard (Rick) Mills
aheadoftheherd.com
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