Company’s novel NeuroDirectTM topical ketamine formulation to treat PTSD shown to be safe and well-tolerated in first cohort of Phase I trial.
MIAMI — April 13, 2023 —Psycheceutical Bioscience, Inc. (“Psycheceutical” or the “Company”) (OTC PINK: BWVI), a bioscience company dedicated to developing cutting-edge technologies for the next generation of mental health treatments, was named in Life Sciences Review’s Top 10 Biotech Startups for 2023. Psycheceutical earned recognition for its significant progress in developing innovative patented delivery technologies that are intended to increase the safety and efficacy of psychedelic compounds.
According to Life Sciences Review, “Psycheceutical’s combination of innovative technologies and neurological experience helps to differentiate them in the bioscience market. Targeted drug delivery to the brain can both enhance compound efficacy and mitigate side effects. Psycheceutical achieves this with two patented technologies, the NeuroDirect™ topical delivery system and Janus particles. Psycheceutical’s focus on delivery technology upholds enormous potential.”
“We are proud to receive this distinction from Life Sciences Review and are honored to join the list of so many exciting biotech startups,” said Psycheceutical CEO Chad Harman. “This type of award drives us to move as rapidly as possible into clinical phase testing and development so that more people can access the profound benefits of psychedelic medicine, with non-intimidating and cost-effective treatment options.”
The company’s novel NeuroDirect™ ketamine topical cream to treat PTSD has already shown positive pre-clinical results. Data from a recently published study in Drug Development and Delivery Journal supports the potential of NeuroDirect ketamine topical cream as an improved treatment for PTSD. In the study of 100 patients who didn’t respond to traditional therapies, more than 80% trying NeuroDirect ketamine topical found it effective at treating their PTSD symptoms. “Discernible improvement[s] in anxiety, depression, paranoia and unrealistic fear, focusing issues, cloudy thinking, neuropathic pain, and other such symptoms were noted within 8-10 minutes of topical drug application. No psychogenic effects, such as hallucinations or dissociative phenomena, were experienced by any patient. To the contrary, patients indicated their thought processes were clearer, more focused, and that they were more keenly aware of surroundings.”
Psycheceutical’s unique delivery method for psychedelic compounds has caught the attention of industry trailblazers like Rick Doblin, founder of the Multidisciplinary Association for Psychedelic Studies (MAPS). “I’ve been working in psychedelics for more than 40 years, and it’s rare for me to come across something unique like the NeuroDirect topical cream that is currently being developed by Psycheceutical with the goal of delivering a psychedelic compound without a psychedelic experience or negative side effects,” noted Doblin.” Psycheceutical recently announced plans to begin clinical trials in Q2 in Australia for its NeuroDirect ketamine topical cream as a treatment for PTSD. “I’m curious to learn about the results of Psycheceutical’s upcoming clinical trials in Australia and to further evaluate this potential treatment. I look forward to reviewing more research data,” said Doblin. “Sometimes the biggest breakthroughs are right under our noses.”