- Little Green Pharma (ASX:LGP) owns a spin-off entity called Reset Mind Sciences (RMS)
- RMS is launching a trial using psilocybin to investigate impacts on depression
- Psilocybin is the main active ingredient in ‘magic mushrooms’
- University of WA consultant psychiatrist Professor Sean Hood is to oversee the trial expected to span 12 months
- LGP shares last traded at 14.5 cents
Little Green Pharma (ASX:LGP) attached entity Reset Mind Sciences (RMS) has officially kicked off a WA-based trial investigating the use of psilocybin in patients with treatment-resistant depression.
Psychedelics like psilocybin and LSD have long been touted as experimental therapies for mental health conditions.
Common lore, supported by some literature, suggests depression, anxiety, and even alcoholism can all be mitigated using psychedelics – in the presence of a professional guiding the experience.
What happens now?
Now, in a first for the engine room state, LGP via RMS is determining whether this is true in the WA context. In 12 months, we’ll have the end of trial results.
Participant screening has begun with a view towards the ‘psychotherapeutic protocols’ being refined to guide the study. A total of 60 are being sought.
Participants will be dosed at the Harry Perkins Institute in Perth alongside state flagship hospital Fiona Stanley.
TGA reforms lead way
The study follows a February 2023 move from health regulator TGA to loosen the restrictions around psychedelics and MDMA somewhat where used in Australian clinics.
“We anticipate this trial, which will be one of the first psilocybin-assisted therapy trials in Australia, will contribute meaningfully to the clinical evidence,” RMS COO Dr Leon Warne said.
“Our first participant scheduled for their first visit to the Harry Perkins Institute of Medical Research later this month.”
Also worth noting: RMS is to demerge from LGP, with a capital-raising prospectus offer currently open.
LGP shares last traded at 14.5 cents.