Microdose is continuing our Meet The Molecule series, where we take deep dives into some of psychedelic medicine’s more popular compounds. We’ve looked at the science behind MDMA and LSD and psilocybin, followed by looks at the business side of the drug. Check them out here and here.
Now we set our sights on DMT. Our science specialist has given us a feature look with What is DMT? Exploring One of Psychedelia’s Most Mysterious Molecules. And today we’ll expand on this with a look at the business side of the compound.
Get your free ticket for The DMT Conference to attend the live session or to get the recordings.
Which companies are working with DMT?
Entheon was the first public firm to focus exclusively on DMT, the firm has as its goal to develop an “…addiction recovery solution that harnesses and optimizes the therapeutic potential of the DMT molecule. Entheon exists to invert the addiction-recovery ratio, turning the ‘untreatable case’ and ‘lost cause’ from the norm to the exception.”
Entheon is building a solid team led by CEO and founder Timothy Ko, who experienced first-hand DMT’s therapeutic benefits, going as far as saying that psychedelics “saved his life”. Having an experienced business professional personally invested in the success of the endeavor is always a positive thing for an early-stage company.
Entheon is moving ahead with preclinical DMT studies and has recently completed its acquisition of Lobo Genetics, a genetics company providing personalized insights into individual’s responses to psychoactive drugs.
The psychedelic big boy has 14 companies under its umbrella developing the whole range of psychedelic compounds. One of their subsidiaries is Viridia Life Sciences, a new company that for the moment is singularly focused on developing DMT molecules, currently in the pre-clinical stage for the treatment of depression.
With this narrow scope and support from a perennial psychedelic giant, ATAI and Viridia could soon jump ahead in the DMT game.
No introduction is needed here. MindMed is best known for its focus on LSD and ibogaine, but through its partnership with MindShift in Switzerland and its R&D collaboration with University Hospital Basel, MindMed is in the early stages of developing other compounds, including DMT.
In June 2020 MindMed announced, along with the University Hospital Basel’s Liechti Lab, they would begin a Phase 1 safety trial to better understand how humans react to DMT and the company recently announced the initiation of Phase 1 clinical trial of intravenous DMT—a major step forward to becoming a serious DMT player.
The UK-based company was listed on the TSXV on May 6 under the ticker symbol “DMT”. Small Pharma has been collaborating with leading experts from the Centre for Psychedelic Research at Imperial College London, and have already passed the preclinical stage and are into Phase 1 / 2a trial for DMT, with a focus on depression. This is ahead for all other DMT players.
In terms of finances, back in March Small Pharma announced a brokered private placement that raised CAD$58 million, with majors like Canaccord Genuiety acting as agents, giving them a very strong financial position.
Mindset Pharma is a Toronto-based drug discovery company focused on creating novel and patentable psychedelic compounds for the treatment of neurological and psychiatric disorders.
The company has a growing IP pipeline investigating some interesting novel compounds and recently announced positive preclinical results of its proprietary next-generation DMT & 5-MeO-DMT compounds—setting itself up to enter the field of DMT clinical trials.
A smaller, private firm, Psilera Bioscience describes themselves as “inspired by nature and DMT, we are a small research and innovation-focused biotech for early-stage drug discovery and development.”
The company is moving forward with a partnership to help develop trials for the pre-IND filing of its patent-pending dimethyltryptamine (DMT) patch and hopes to move forward with anticipated Phase 1b clinical trials in 2022.