The way neurological disorders are getting treated is changing, thanks to the increased use of psychedelics.
Lobe Sciences Ltd. (CSE:LOBE) is one such company helping to push that narrative forward thanks to its manufacturing partner Quality Chemical Laboratories LLC (QLC).
In a press release, Lobe Sciences said that QLC has begun commercial formulation activities for the company’s new chemical entity, L-130.
QLC has developed a synthetic pathway for psilocybin, psilocin and psilocin analogues exclusively for the company. In collaboration with Clearway Global, QCL will prepare the chemical manufacturing and control section of the investigational new drug application, which the company anticipates will be filed later this year.
Additionally, the material produced at QCL’s laboratories will be used in the current Phase 1/IIa study to evaluate L-130 as a treatment for chronic cluster headaches.
“Our collaboration with QCL has provided Lobe access to industry-leading, patent-pending psilocin compounds. Lobe filed patents on the first nine of these drug candidates last July 2022. Since that time, we selected L-130 and L-131 to advance into clinical development,” Phillip J. Young, CEO of Lobe Sciences, said in a release. “QCL’s ability to rapidly discover, validate and manufacture multiple stable psilocin compounds has put Lobe in a leadership position in the development of psychedelic-derived therapies.”
Yousry Sayed, founder and CEO of QCL, said that QCL’s work on low-dose and novel psilocin compounds has the potential to improve the lives and mental health of people all around the world. He added that QCL hopes to improve bioavailability and allow lower doses to be used to treat neurological disorders.
The rise of psychedelics treating neurological conditions
Neither psychedelics nor neurological conditions are new, but the way neurological conditions are being treated is changing thanks to the rise in the use of alternative medicines.
Case in point, it is expected the overarching psychedelics drug market size is expected to reach US$4.83 billion in 2023, up from $4.2 billion in 2022.
Fueling that growth will be the treatment of psychedelics in a range of neurological conditions. The rise in mental illnesses will partly contribute to that growth, while psychedelic drugs have already been used to treat depression and post-traumatic stress disorder.
Although the market is still relatively new, the psychedelics industry is quickly gaining momentum — making it a unique market for investors to watch for.
