XPhyto Files Patent Application for Library of Novel Psychedelic Compounds
Vancouver, Canada, and Uttenweiler, Germany (September 20, 2022) – XPhyto Therapeutics Corp. (CSE:XPHY / OTC:XPHYF / FSE:4XT) (“XPhyto” or the “Company”) is pleased to report that it has filed a patent application for a significant library of novel psychedelic compounds. Each compound was designed to provide specific alterations in their respective biopharmaceutical properties.
The library of compounds can be selected to target (personalize) the treatment of neuropsychiatric, and neurodegenerative, neuroinflammatory and pain disorders including depression, as well as tobacco, opiate (OUD), and cocaine addiction, alcoholism (AUD), post-traumatic stress disorder (PTSD), and pain syndromes including cluster headaches and chemotherapy induced peripheral neuropathy. Novel methods of administration might be applied for dosing to further optimize therapeutic outcomes. This significant library of psychedelic derived molecules secures XPhyto a platform technology to which variations of the molecules can be applied to various indications as noted. The potential applications are subject to the requisite clinical and regulatory commercialization processes.
The global psychedelic drugs market is expected to gain significant market growth in the forecast period from 2022 to 2029. Data Bridge Market Research reports that the market is growing with a CAGR of 13.3% in the forecast period from 2022 to 2029 and is expected to reach USD 6,401.95 million by 2029 from USD 2,386.72 million in 2021.
Related development work has been carried out as part of an ongoing exclusive psychedelic R&D partnership with Applied Pharmaceutical Innovation (“Applied”). XPhyto is pursuing a multi-strategic approach to psychedelic medicine including drug synthesis, drug delivery and novel psychedelic analogue engineering. Applied is a not-for-profit institution at the University of Alberta created to support translational drug development for industry and innovators. The intellectual property is retained 100% by XPhyto. The Company will provide further updates in due course.