ASX Health Stocks: Creso eyes psychedelic spinout off the back of landmark TGA decision
Health & Biotech
Health & Biotech
Yesterday the big news in the health sector was the Therapeutic Goods Administration (TGA) approval of medicines containing psilocybin and MDMA for prescription by specifically authorised psychiatrists for the treatment of certain medical conditions from 1 July 2023.
And today, Creso Pharma (ASX:CPH) announced its psychedelics subsidiary Halucenex Life Sciences is “exploring opportunities” to register its synthetic psilocybin formulation for the Australian market.
Halucenex is currently undertaking a Phase II clinical trial which will test the efficacy of psilocybin on treatment resistant PTSD, and is confident that the data generated will provide a strong foundation for the registration of its Lucenex branded synthetic psilocybin product, as a potential treatment route in Canada and Australia, pending further regulatory requirements.
“This is a landmark moment for psychedelic therapy in Australia. The TGA’s decision provides considerable validation of Halucenex’s work to date, and highlights the significant opportunity Creso Pharma has as an early stage pioneer of medical psilocybin,” CEO and MD William Lay says.
“Halucenex’s clinical trial is advancing pleasingly. We are confident that data generated from the initiative will provide a much greater insight into how Lucenex can be used as a potential treatment route for debilitating health conditions.”
Halucenex is already a Licensed Psilocybin Supplier under Health Canada’s Special Access Program.
Reproductive biotech company Memphasys has flagged that two recent publications – Andrology and the Journal of Assisted Reproduction and Genetics – have both reported in vitro results which demonstrate the company’s Felix system outperforms the density gradient centrifugation (DGC) method, the most globally common sperm preparation method for IVF procedures.
Results from Andrology highlighted spermatozoa preparation with Felix “significantly improved spermatozoa fractions with higher progressive motility, lower sperm DNA fragmentation, and lower sperm DNA oxidation compared with raw semen and DGC-prepared spermatozoa”.
“These improved sperm parameters, along with the fact that the Felix separation process is very fast and highly standardised, should be of great interest to the assisted reproduction technologies industry,” the study said.
The company’s regenerative food brand, Dirty Clean Food, has had its oat milk cold brew ranged nationally with retailer WHSmith.
The deal marks Dirty Clean Food’s entry into Australia’s $9 billion convenience market, with its Oat Milk Cold Brew to be sold nationally at 37 WHSmith stores in Victoria, New South Wales, Queensland, South Australia, and Western Australia by the end of February.
“It is exciting to launch Dirty Clean Food’s national expansion into the convenience retail market with a prestigious partner like WHSmith Australia,” Dirty Clean Food regional sales manager Resh Menon said.
“WHSmith is a group that supports companies who are promoting innovation and positive environmental practices in Australia.”
Medlab has snagged the export permit from the Australian Office of Drug Control (ODC) for NanaDol – the export name for NanaBis specifically for the United Kingdom.
The company was approved by the UK Home Office for import in November, and expected to ship several hundred units of NanaDol as soon as secure freight has been arranged.
The company’s partner in the UK, WEP Clinical, will supply UK patients as appropriate
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