Clairvoyant aims to develop and validate psychedelic therapy using psilocybin to treat addiction in Canada, the E.U., and the U.K.
Vancouver, B.C., July 07, 2022 (GLOBE NEWSWIRE) — Origin Therapeutics Holdings Inc. (CSE:ORIG) (the “Company” or “Origin Therapeutics”), an actively managed, psychedelics industry-focused investment issuer, is pleased to announce that it has added Clairvoyant Therapeutics (“Clairvoyant”) to its portfolio.
Clairvoyant is a Canadian biotech company developing psychedelic drug therapy with a focus on treatments for addiction and the clinical validation of psilocybin in the E.U., the U.K., and Canada. It is proceeding with a Health Canada-approved Phase 2 clinical trial for the clinical validation of psilocybin for the treatment of alcohol use disorder (AUD). This randomized, controlled, clinical trial will evaluate the safety and efficacy of a 25mg synthetic psilocybin capsule versus placebo, delivered in conjunction with Motivational Enhancement Therapy (MET).
Fifteen clinical trial sites are planned for Clairvoyant’s Phase 2 clinical trial. The first site in Canada was initiated in June. Regulatory submissions have also been submitted in the E.U. for Clairvoyant to initiate clinical trial sites.
“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,” said Alexander Somjen, CEO of Origin Therapeutics. “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.”
According to the World Health Organization, 283 million1 people aged 15 years and older live with AUD, accounting for 5.1% of the global adult population. Alcohol dependence, the most severe form of AUD, affects 2.6% 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 $14.6B.2 Alcohol use disorder is a serious medical condition for which novel therapies are urgently needed.
“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,” said Damian Kettlewell, CEO of Clairvoyant. “We are pleased to be working with the Origin Therapeutics team to drive our vision forward.”
About Clairvoyant Therapeutics
Clairvoyant Therapeutics is a Canadian biotechnology company changing the face of psychedelic therapy with a speed-to-market clinical strategy designed to enable psilocybin therapy in the E.U., the U.K., and Canada to treat patients living with Alcohol Use Disorder (AUD) beginning in 2026. The company’s exceptional team, with a proven clinical track record and deep drug development experience, has made Clairvoyant the most advanced company globally developing psilocybin therapy for the treatment of AUD. Clairvoyant is committed to meeting the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose and is a pending B Corporation Certification. Clairvoyant is a member of Life Science BC and Biotechnology Innovation Organization (BIO).
About Origin Therapeutics
Origin Therapeutics Holdings Inc (CSE:ORIG) (the “Company” or “Origin Therapeutics”) is an actively managed investment issuer focused on making equity investments in psychedelics industry-related companies to provide investors with diverse exposure to the sector. The Company, led by a team of industry experts, leverages its management expertise, professional network, and due diligence process to identify and invest in leading and emerging companies focused on the emerging psychedelics sector.
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Chief Executive Officer and Director
Origin Therapeutics Holdings Inc
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All information contained in this news release with respect to Clairvoyant was supplied by Clairvoyant for inclusion herein, and Origin Therapeutic’s directors and officers have relied on Clairvoyant for such information.
Forward-Looking Information and Statements
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Offering, the intended use of proceeds of the Offering, the filing of the Prospectus and the obtaining of receipts for the Prospectus. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks inherent in the Company’s business in general; (iii) that the proceeds of the Offering may need to be used for purposes other than as set out in this news release and other factors beyond the control of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by applicable law, the Company does not intend to update these forward-looking statements.
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1 World Health Organization. Global alcohol action plan 2022-2030 to strengthen implementation of the Global Strategy to Reduce the Harmful Use of Alcohol. First Draft. June 2021
2 BC Centre for Substance Abuse. Provincial Guideline for the Clinical Management of High-Risk Drinking and Alcohol Use Disorder December 2019
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