Mental health care and psychedelic therapy innovator PsiloTec Health Solutions, operating as Zylorion Health, has filed a provisional patent for a novel psilocybin-based compound. The compound, ZYL-314, is to be used in the treatment of mental health disorders as well as other conditions and disorders related to the central nervous system, the company said.
PsiloTec Health Solutions is an Edmonton biopharmaceutical company founded by Dr. Peter Silverstone, interim chair of the department of psychiatry at the University of Alberta. The company rebranded as Zylorion Health in October 2021, saying the name change was an important inflection point in its development and business strategy.
"Our clinical team has been working tirelessly with our research partners on the development of novel second generation and industry leading compounds," Silverstone said in a release about the latest patent filing. "And we are extremely excited about this discovery."
The company is continuing to gather data and evidence for the compound and expects to file an application with the Patent Cooperation Treaty within a year.
Second-generation psilocybin-based compounds have some of the therapeutic benefits of psychedelics but without the intoxicating effects. ZYL-314 is part of Zylorion's already established portfolio of psilocybin-based drug product candidates, intellectual property that Silverstone hopes will advance new therapies as well as hold long-term value for investors.
Psychedelics are subject to varied regulations and prohibitions in North America, but there has been an easing of restrictions in the past several years, enabling further research and making treatment more accessible. In a move celebrated by advocates, Health Canada made changes to the Special Access Program in January, allowing physicians to request access to psychedelics for eligible patients. Last summer, Texas and Connecticut joined a growing number of states to legalize psychedelic research.
"The need for mental health support and treatment is absolutely overwhelming and of course, it's being made worse in the COVID-19 environment," Silverstone has previously said. "It is our goal to be an industry-leading provider of psychedelic-based therapies that are developed through clinical trials with proven efficacy."