WA’s Emyria, Reset Mind Sciences says new MDMA study promising for Australian psychedelic medicine industry

WA biotech and pharmaceutical companies are excited by a new US study on MDMA that paves the way for the psychedelic drug’s approval in the country, saying it was a motivator for the local industry. The study, conducted by the Multidisciplinary Association for Psychedelic Studies, found MDMA-assisted therapy was effective in reducing symptoms of post-traumatic stress disorder. MAPS plans to seek approval from the US Food and Drug Administration later this year to market the drug. Michael Winlo, managing director of ASX-listed Emyria, said the recent study added further weight to research already available on the potential of psychedelic treatments. “We’re following the lead of the US. It’s the great research that’s been done in the US that has directly informed the opinion of our regulator the Therapeutic Goods Administration to reconsider its position on MDMA,” he said. “(The US study) just further confirms the exciting potential of things like MDMA-assisted therapy and for companies like us, it’s a great motivator to figure out how we can make this treatment available safely and appropriately to patients.” It follows a decision by the TGA in February allowing medicines containing psilocybin — a psychedelic compound found in magic mushrooms — and MDMA to be prescribed to patients by authorised psychiatrists from July 1. “It is likely research out of the US and elsewhere will continue to inform how we approach this space here in Australia,” Mr Winlo said. Mr Winlo’s comments came as Emyria on Thursday announced it had secured a locally-available supply of MDMA through Mind Medicine Australia and the Australian National University. Emyria said the supply ensured the timely commencement of its ethics-approved trial. Shaun Duffy, chief executive of Reset Mind Sciences, said the MAPS results were significant globally and something that was anticipated by the psychedelic therapeutics industry. “It’s certainly a point of endorsement around the research for psychedelics, (the result is) something that we expected,” he said. “We’re in an interesting time in the industry. The rules from the TGA that were set down earlier this year . . . are evidence of the industry moving forward in Australia. “While research around the world has been led from the northern hemisphere, we shouldn’t underestimate the progress that’s been made in the Australian industry over the last few years.” Reset Mind Sciences, the psychedelics-focused subsidiary of Little Green Pharma, is preparing to launch its first clinical trial in WA using psilocybin in the coming months. The trial will be conducted at the Harry Perkins Institute of Medical Research at Fiona Stanley Hospital and recruit 60 patients with treatment-resistant depression.