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Must Be Trippin’
FDA just said "NO" to drugs, specifically molly. Issues such as the treatment being a combination of a drug and psychotherapy were insurmountable to the agency.
Not surprising – when you’re talking about a controversial decision, employees of Federal agencies often revert to the CYA doctrine (Cover Your Ass). As there were plausible reasons not to approve, they reasonably took that path.
Eventually, a psychedelic will get approved, and no one will make any money off it, because once the path is worn, a dozen companies will plow down the same road. Also, not sure if anyone out there knows this, but there is indeed a black market for recreational drugs!
if you can pay US healthcare system prices vs black market prices, more than a few people will opt for option 2.
Hell of a Grant
There are grants, then there are GRANTS. Shinobi Therapeutics just landed a $59 million grant from the Japanese government.
Must be for a biodefense product or something, right? Nope, just run-of-the-mill cell therapy stuff.
Wild.
Pivot!
A company whose business is built around producing valuable beauty product ingredients has signed a deal with the Department of Defense.
Has the military gone woke?!?!
No, it's part of a program to improve domestic production of certain imported chemicals/products and Debut is currently utilizing synthetic biology for this type of thing.
Still a pretty cool pivot.
Market Preservation
If your company is almost single-handedly responsible for the nation's opioid abuse epidemic, one way to ensure you have a future is to get products approved that keep addicts alive.
Purdue Pharma has successfully gotten approval for their opioid antagonist to save the public from a problem Purdue itself created. Heroes among men.
AN2 Therapeutics
Hard times abound in biotech. AN2 announced they were laying off 50% of their employees. Very sad for those individuals, but on the bright side, we are looking forward to their imminent name change to AN1 Therapeutics.
Reboot
Speaking of name changes, FSD Pharma has become Quantum BioPharma. The company formerly advertised their cannabis and psychedelic chops, but now, no mention of that anywhere on the website.
Once that bubble burst, guess it was time to grow up, and that’s probably why they took this opportunity to change the ticker symbol from HUGE to QNTM.
Out of Time
Telomir Pharmaceuticals is working on an age reversal therapy but ran out of time. They announced the CEO had passed away and pointedly said they would not share the cause of death.
The only reason 90% of people read obituaries is to find out how the person died, but they almost never tell us.
How else will we know how to survive???
Meet About Meat
An interesting story here about cultivated eel meat that is made even more interesting by the fact that the interviewer in the pictures seems to have time-traveled from 1972.
Where do you even find a microphone cord that long? Is it connected to a tape reel machine? What is happening??
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