Origin Therapeutics has completed an investment in Clairvoyant Therapeutics which will now proceed with a Phase 2 clinical trial for the clinical validation of psilocybin for the treatment of alcohol use disorder (AUD).
According to the World Health Organization (WHO), 283 million people aged 15 years and older live with AUD, accounting for 5.1 per cent of the global adult population.
Alcohol dependence, the most severe form of AUD, affects 2.6 per cent of the world’s adults, or 144 million people. The economic, healthcare, and social costs associated with alcohol in Canada alone in 2014 were estimated at $14.6bn (~£12.25bn) AUD is a serious medical condition for which novel therapies are urgently needed.
Increasing emerging research is demonstrating that psychedelics, including psilocybin, may hold promise for the treatment of different addictions.
Canadian-based biotech company, Clairvoyant will be carrying out a Health Canada-approved Phase 2 randomised, controlled, clinical trial to evaluate the safety and efficacy of a 25mg synthetic psilocybin capsule versus placebo, delivered in conjunction with Motivational Enhancement Therapy (MET).
CEO of Origin Therapeutics, Alexander Somjen, commented: “Psychedelic medicine delivered in conjunction with therapy has been demonstrated by compelling clinical research to have potentially profound positive effects on those suffering from substance use disorders.
“Clairvoyant has a unique speed-to-market strategy for psilocybin therapy and an experienced drug development team. We believe that Clairvoyant makes an excellent addition to our portfolio.”
Fifteen clinical trial sites are planned for Clairvoyant’s Phase 2 clinical trial. The first site in Canada was initiated in June and regulatory submissions have also been submitted in the EU for Clairvoyant to initiate clinical trial sites.
CEO of Clairvoyant, Damian Kettlewell, commented: “We are in the midst of a substance abuse crisis, and psychedelic therapies have the potential to provide patients with a new therapeutic intervention rather than having those patients be limited to options that often do not work or that may have unpleasant side effects.
“We are pleased to be working with the Origin Therapeutics team to drive our vision forward.”
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