It’s becoming increasingly clear that there’s a critical lack of safe, effective, proven and widely available treatment options for opioid addiction. Therapy and 12-step programs can help some people, but they’re just not enough for many patients who struggle with opioid addiction today.
The petition also called for a wider range of treatment modalities for trauma, anxiety and depression. Again, this is a widespread problem in North America: according to the National Institute of Mental Health, about 17.3 million adults in the United States have experienced at least one depressive episode. That number represents 7.1% of all U.S. adults.
With conventional treatments unable to address these issues adequately for millions of patients, the call for legal reform is louder than ever. In the U.S., the world witnessed major milestones with the 2019 FDA approval of esketamine (a potent form of the dissociative drug ketamine) for treatment-resistant depression, along with Oakland’s decriminalization of psilocybin mushrooms.
Canada took the lead in 2020 with a slew of reforms. For instance, in British Columbia a patient was recently documented as the first Canadian patient to receive an exemption from the Controlled Drug and Substances Act and legally receive psilocybin (a.k.a. “magic mushroom”) therapy.
In August, Canada’s Health Minister Patty Hajdu granted permission for four terminally ill Canadians to consume psychedelic drugs. With this, big-money investors started calling psychedelic medicines the next billion-dollar business – and they’re 100% right about that.
Moreover, in December the Canadian Health Minister announced that health care professionals in Canada will be permitted to possess and consume psilocybin mushrooms in order to better treat the growing number of patients now permitted to use the psychedelic drug.
For Entheon (CAD: ENBI & US: ENTBF), solid science will inevitably lead to the achievement of these goals. Mr. Ko explains that Entheon’s approach is to take the psychedelics-focused research that has been gleaned over decades, apply this knowledge to current scientific studies, compile the data, and present it to regulators to show that DMT has a very strong safety and efficacy profile.
As you can see, Entheon has a clearly marked timeline that culminates in the objective of getting the company’s treatments approved by the FDA. Clearing regulatory scrutiny will open doors for the company and its stakeholders, as well as for the vast numbers of patients in need of better treatment avenues than what’s currently available.
Of course, Mr. Ko acknowledges that in order to bring the company’s products to market, Entheon can’t rely exclusively on passion or intent. To achieve its objectives, Timothy has assembled a truly world-class scientific advisory and management team made up of experts in psychedelics science as well as veterans of traditional pharmaceutical drug discovery and those with capital market expertise.
Thus, Mr. Ko has populated Entheon’s advisory committee with a variety of pharmaceutical industry veterans who have developed a number of drugs through the clinical trial process. Also on Entheon’s scientific advisory team are researchers from renowned medical research organizations, including Johns Hopkins University and the Imperial College, London.
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On Sept 30th, 2020, in connection with our agreement with Entheon Biomedical Corp, we received $250,000USD to Gold Standard Media LLC. This was for a 4 month agreement. Wallace Hill Partners LTD on September 26, 2020 purchased 750,000 common shares at CAD0.10.