“The world urgently needs a new way to treat mental health issues, and at PsyRx we believe psychedelics are a big part of the solution,” says Itay Hecht.

Hecht is CEO and co-founder of this Israeli company, which is developing standardized pharmaceutical grade psychedelics from natural sources — not synthetics — as active pharmaceutical ingredients.

Using an agro-medical bioreactor invented at the Hebrew University Faculty of Agriculture, PsyRx produces psychedelic botanic extracts psilocybin (from “magic” mushrooms) and ibogaine (from the root bark of the iboga shrub).

Psilocybin has been shown to have positive effects in treating depression, anxiety and addiction, and has been suggested as a potential treatment for obesity, PTSD, cluster headaches and more.

Ibogaine has shown promise as an anti-addiction drug, among other indications. PsyRx is focusing on its potential to improve current SSRI (selective serotonin reuptake inhibitor) antidepressants.

“SSRIs have some very bad side effects on libido and appetite, and patients often stop using them. We believe adding a microdose of ibogaine will counter those effects and make a better drug,” Hecht says, emphasizing that microdoses of psychedelic substances do not cause hallucinations.

“We are starting small animal trials soon to check safety and efficacy. Hopefully, in a year’s time, we can start human trials” to test this ibogaine application, he tells ISRAEL21c.

ON-TREND

Adding psychedelics to mainstream drugs may seem a bit “out there,” but in fact it’s on-trend.

According to market intelligence report CB Insights, funding for psychedelic medicine companies is growing rapidly as traditional pharma giants see declines in return on investment for drug R&D and are interested in exploring alternative products. Consumer interest in hallucinogenic drugs also is growing, according to this report.