Recent study shows psilocybin can heal brain injuries, boost neural connections. Pic: Getty Images
Psilocybin can tackle brain injuries and binge eating, and these ASX companies are in the game
Health & Biotech
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- Recent study shows psilocybin can heal brain injuries, boost neural connections
- ASX-listed Tryptamine tackles binge eating with psilocybin trials
- Bioxyne pioneers psilocybin production in Australia
Psilocybin is the naturally occurring psychedelic compound found in ‘magic mushrooms’, used in spiritual ceremonies and rituals for thousands of years.
But in the modern world, they are often associated with recreational use because of their mind-altering effects.
Beyond the groovy visuals, however, psilocybin interacts with the brain’s serotonin receptors, and that’s where the magic really starts to kick in.
Recent studies have shown that this little molecule could be the key to unlocking real-world medical treatments.
We’re talking about healing brain injuries, boosting empathy for those going through rough patches, and even addressing binge eating.
In Australia, the Therapeutic Goods Administration (TGA) made history in 2023 when it became the first in the world to officially approve the medical use of psilocybin.
The TGA reclassified psilocybin from a banned substance (Schedule 9) to a controlled substance (Schedule 8). This change allows approved psychiatrists to prescribe it for treating treatment-resistant depression.
In tandem with this, the TGA also reclassified MDMA, making it available for the treatment of post-traumatic stress disorder (PTSD) under strict medical supervision.
Could psilocybin be the saviour for brain injuries?
A recent study shows that psilocybin might just be the answer to treating brain injuries.
And not just any brain injury, but those subtle, mild repetitive concussions that often go unnoticed and don’t come with skull fractures or bleeding.
These are little bumps that add up over time, leading to nasty stuff like dementia, Parkinson’s, and chronic traumatic encephalopathy, or CTE, all of which are major health problems that cost billions.
The study from Northeastern University threw psilocybin into the mix to see if it could heal some of that brain damage.
And it worked. The researchers, led by psychology professor Craig Ferris, tested psilocybin on rats who had mild head injuries.
They found that the little psychedelic helped the rats’ brains recover faster, reducing brain swelling, boosting blood flow, and even rewiring neural connections.
The brain didn’t just heal; it actually became more connected and efficient.
This could be huge for people who suffer from repetitive head injuries (think rugby players or soldiers) who currently have no real treatment options.
Ferris himself was taken aback.
“It really did incredible things,” he said.
“What we found was that with head injuries is that functional connections go down across the brain. You give the psilocybin and not only does it return to normal, but the brain becomes hyper connected.”
Can psilocybin make you more empathetic?
It turns out psilocybin could also give you a major empathy boost – especially for people struggling with depression.
A recent study out of Switzerland showed that a single dose of psilocybin increased emotional empathy in individuals with depression.
Researchers found that after taking psilocybin depressed individuals felt more connected to others, and this boost in emotional empathy stuck around for at least two weeks.
Why does this matter? Well, emotional empathy can be a double-edged sword.
Too much empathy can lead to emotional burnout and contribute to mental health struggles. But in the right amounts, it helps form strong, supportive bonds, something people with depression often lack.
By helping depressed people better understand and connect with others’ feelings, psilocybin is showing promise as a potential therapy for those trapped in the cycles of their own negative emotions.
Psilocybin and binge eating
But wait, there’s more.
One ASX-listed company, Tryptamine Therapeutics (ASX:TYP), is studying the effects of psilocybin on binge eating disorder (BED) through its clinical trials.
BED is often misunderstood, but it’s a serious mental health condition that goes beyond overeating.
It involves episodes where individuals consume massive amounts of food and feel powerless to stop, often triggered by emotional distress like depression or anxiety.
Those struggling with BED face not only the mental toll but also physical risks like obesity, heart disease and diabetes.
Shockingly, nearly 1 in 4 individuals with BED attempt suicide, showing just how deadly this disorder can be.
Currently, treatment options are limited and often ineffective. Traditional approaches like therapy and medication don’t always provide long-term relief, leaving many patients stuck in a vicious cycle of binge eating and shame.
Tryptamine is developing a drug called TRP-8802, an oral psilocybin-based treatment that’s showing potential to break that cycle.
In a Phase 2a trial for BED, TRP-8802 reduced binge eating episodes by over 80% compared to baseline, with additional improvements in anxiety and depression. These benefits lasted up to 60 days.
The company is also developing TRP-8803, an IV-infused psilocin treatment.
Early results from studies with TRP-8803 show that it has a fast onset of action, delivering effects within 20 minutes, which is much quicker than oral psilocybin treatments.
TRP-8803 is currently moving toward Phase 2 trials for BED, depression, and irritable bowel syndrome (IBS).
Other ASX companies in the psilocybin space
Emyria has a focus on addressing treatment-resistant depression.
The company recently received approval from the ACT Health Ethics Committee for its psilocybin-assisted therapy program.
The program aims to offer a new treatment option for individuals suffering from depression that has not responded to conventional therapies.
The psilocybin program will complement Emyria’s existing therapies, which include its MDMA-assisted therapy programs for PTSD.
By integrating psilocybin-assisted therapy into its offerings, Emyria said it wants to position itself as a leader in medication-assisted therapies for serious mental health conditions.
Bioxyne, through its subsidiary Breathe Life Sciences (BLS), is playing a pioneering role in the manufacture and distribution of psilocybin products in Australia.
The company has become the first in the country to be granted a Good Manufacturing Practice (GMP) licence for the production of psilocybin, MDMA and medical cannabis.
With this licence, Bioxyne can now manufacture active pharmaceutical ingredients (APIs) and final dose capsules for psilocybin, making these products available to authorised prescribers and clinical trials.
In addition to psilocybin, Bioxyne’s Breathe Life Sciences also manufactures a range of other alternative medicines, including MDMA for PTSD treatment, and medicinal cannabis.
Bioxyne also has successful partnerships and contracts across various regions.
For instance, the company’s Dr Watson CBD products have gained approval for sale on Amazon in the UK, EU, and Japan.
Furthermore, Bioxyne has ambitious growth plans, including the development of new psilocybin therapies, the construction of a new facility in Czechia to meet European demand, and an ongoing focus on expanding its production capacity.
Little Green Pharma is actively involved in the development of psilocybin-based treatments as part of its growing psychedelics business.
The company, which famously pulled in investment from iron ore magnate Gina Rinehart, is sponsoring a clinical trial focused on using psilocybin-assisted therapy to treat patients with refractory depression – a form of depression that doesn’t respond to conventional treatments.
This trial, conducted in partnership with the University of Western Australia and the Harry Perkins Institute, has shown promising results and is helping the company fine-tune its treatment protocols.
In addition to the clinical trial, Little Green Pharma is also working on building infrastructure to support its psychedelic ventures.
This includes the construction of a psilocybin mushroom cultivation facility and the establishment of a psychedelic treatment clinic.
Its Reset Mind Sciences clinic in Perth has been fully fitted out, and is now ready to support clinical operations.
With these initiatives, LGP said it is positioning itself to make significant advancements in the field of psychedelic medicine.
At Stockhead we tell it like it is. While Tryptamine Therapeutics and Bioxyne are Stockhead advertisers, they did not sponsor this article.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decision.
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