Psycheceutical Secures Funding for Clinical Trials of NeuroDirect™ Ketamine Topical to Treat PTSD
Summary
Company raises $1.3M USD convertible note from Cantheon Capital for in-human trials of patented novel ketamine creamMIAMI, FLORIDA, UNITED STATES, June 1, 2023/ EINPresswire.com / -- Psycheceutical Bioscience, Inc. OTCPK: BWVI ) ("Psycheceutical" or the "Company"), a bioscience company dedicated to developing cutting-edge technologies for the next generation of mental health treatments, today announced it has secured the funding that will allow it to move forward with the design and execution of two pivotal clinical trials that will evaluate the effectiveness of Psycheceuticals novel NeuroDirect ketamine topical in the treatment of post-traumatic stress disorder (PTSD).Psycheceutical will use these funds to conduct clinical trials in Australia with its newly announced partner iNGEN Pty Ltd. ("iNGEN").The world is experiencing a mental health crisis and psychedelic medicines show great promise to treat these debilitating illnesses. Psycheceuticals growth potential is remarkable, as they have progressed rapidly in the last year and are now ready to initiate human clinical trials with their patented, first-of-its-kind NeuroDirect ketamine topical for PTSD," said Aaron Ray, General Partner of Cantheon Capital. Powered by a team of FDA drug development veterans, biotechnology experts, and the top minds in the psychedelic space, Psycheceutical is on a mission to commercialize its precision dosing technologies to provide affordable, life-saving treatments to anyone suffering from mental health disorders or central nervous system diseases. Cantheon supports cannabinoid and psychedelic biotechs with corporate advisory, capital funding and detailed scientific advice.Forward-Looking StatementsCertain statements in this news release related to the Company constitute "forward-looking information" within the meaning of applicable securities laws and are prospective in nature. These uncertainties include, but are not limited to, (i) general market growth for and acceptance of psychedelic-inspired medicines, (ii) capital and credit availability and market volatility, (iii) general economic conditions, (iv) governmental approvals and compliance with regulations, (v) the ultimate portability of results and data from the Australia trials to the US and acceptance by the US FDA, (vi) product research and development and clinical trial risks, (vii) incorrect underlying assumptions, and (viii) our future business development, results of operations, and financial condition.