- Nova Mentis Life Science Corp. (NOVA) has received an export approval from the U.S. Drug Enforcement Administration (DEA) for its psilocybin drug
- Nova Mentis is a Canadian-based biotechnology company
- NM-1001 has been manufactured for an upcoming study to treat Fragile X Syndrome
- Microdoses of NM-1001 have already showed positive treatment affects
- Nova Mentis Life Science Corp. (NOVA) is unchanged trading at $0.08 per share as of 2:21 p.m. ET
Nova Mentis Life Science (NOVA) has received an export approval from the U.S. DEA for its psilocybin drug, NM-1001.
Nova Mentis is a Canadian-based biotechnology company developing diagnostics and psilocybin-based therapeutics for neuroinflammatory disorders.
The company is the first of its kind to achieve orphan drug designation in both the U.S. and European Union for the use of psilocybin to treat Fragile X Syndrome (FXS), an inhibiting brain development disease.
NM-1001 has also been received at the Toronto Institute of Pharmaceutical Technology labs to be used to formulate and manufacture psilocybin microdose capsules for a planned Phase 2A FXS clinical study.
“This allows us to move forward with the formulation and final production of microdose capsules in preparation for our clinical trial application submission to Health Canada,” Will Rascan, President and CEO of Nova Mentis, said.
Earlier this year, Nova Mentis announced that a very low microdose formulation of its psilocybin drug significantly lessened behavioural and cognitive defects, such as recognition memory, in a genetic model.
“Our science team has delivered promising preclinical results and we look forward to continuing to advance our research program to demonstrate the important role that microdose therapy may play in the treatment of autism spectrum disorder and FXS,” Rascan said.
Nova Mentis Life Science Corp. (NOVA) is unchanged trading at $0.08 per share as of 2:21 p.m. ET.
