Life sciences company focusing on pharmaceutical drug development and advancement of medicine which leverage psychedelic compounds MYND Life Science (CSNX: MYND) announced having initiated a study aimed at coming up with a suitable vaccine for depression.
The company will be partnering with private vaccine developer Eyam on this project, this partnership is set to start once the two parties sign a licensing agreement.
In this project, MYND will be exploring whether novel psychedelic compounds like psilocybin can be used to treat nervous system disorders and depression.
“We have an opportunity to improve the wellness and quality of life of people suffering from depression, anxiety and addiction and this agreement helps set the foundation for the development of novel therapies utilizing psilocybin and other related compounds,” said the company’s CEO Dr. Lyle Oberg.
Last month, the company announced a letter of intent giving MYND an exclusive license subject to Eyam’s proprietary technologies for applications to central system vaccines.
“This agreement with Eyam will allow MYND to access yet another cutting edge technology with the development of vaccines that have the ability to prevent neurological disorders such as major depressive disorder, by stopping the neuro-inflammatory process before it starts,” added the CEO.