GlobeNewswire by notified

Novotech Announces MOU with Experienced Psychedelics Research Center at the 4th Annual Psychedelic Therapeutics and Drug Development Conference in Boston

Share

BOSTON, May 22, 2024 (GLOBE NEWSWIRE) -- Novotech, the global full-service clinical Contract Research Organization (CRO) that partners with biotech companies to accelerate the development of advanced and novel therapeutics at every phase, has signed an Memorandum of Understanding (MOU) with New Zealand Clinical Research (NZCR).

Novotech’s Senior Therapeutic Strategy Manager, Dr. Shawnna Barrett, and Senior Business Development Manager, Lainie Mulvanny, will announce the MOU at the 4th Annual Psychedelic Therapeutics and Drug Development Conference in Boston, MA, on May 23-24, 2024.

NZCR, which has 4 sites across New Zealand, is a leading early phase research center with a strong track-record conducting psychedelics studies.

Novotech has previously collaborated with NZCR on multiple psychedelic studies. This partnership further signals Novotech’s commitment to pioneering research in the field of psychedelic medicines.

For decades, Novotech has been establishing relationships with specialized clinical research sites worldwide, ensuring clients receive priority access to some of the most experienced sites and clinical teams.

The global market for psychedelic drugs, was estimated at US$5.50 Billion in 2023, and is projected to grow 13% from 2024 to 2030, with revenues anticipated to reach close to US$12.94 Billion.

Psychedelic drugs come in three main categories:

  • dissociative pharmaceuticals like phencyclidine (PCP)
  • empathogens like 3,4-Methyl​enedioxy​methamphetamine (MDMA; ecstacy)
  • serotonergic drugs such as lysergic acid diethylamide (LSD)

The leading drugs being investigated in trials are psilocybin, LSD, ketamine hydrochloride, and mebufotenin.

A Novotech review of current research applications reveals that CNS disorders are the leading therapeutic area in global psychedelic drug trials, with primary indications including depression, anxiety disorders, pain, and substance abuse.

“This MOU signifies a further collaboration with NZCR to support Novotech’s psychedelic therapy biotech clients. With their extensive experience and expertise in conducting clinical trials, coupled with a passionate team of psychiatrists deeply invested in this area, NZCR is an ideal research partner for exploring the therapeutic potential of psychedelics. Together with NZCR, we aim to unlock new insights, drive meaningful progress, and ultimately, make a positive impact on patients' lives,” stated Dr. Barrett.

NZCR CEO, Dr. Christian Schwabe said, “NZCR has a close and long-standing relationship with Novotech, who we have successfully partnered with on previous psychedelic drug trials. We are excited about the opportunities this MOU brings as we continue to lead research in this therapeutic area.”

Novotech research has found that during the period from 2019 to 2023, nearly 75 psychedelic drug trials were initiated and remained ongoing. The trials are predominantly conducted in Europe and North America, accounting for 39% and 38% respectively. The Asia-Pacific region follows with 20%, while the Middle East, Africa, and South and Central America together hold 3% share.

The number of psychedelic drug trials had grown by more than fourfold from 2021 to 2023.

When analysing trials by phase the data shows Phase II dominates with 37 trials, followed by 11 trials each in Phase I and Phase III. Additionally, there were 4 trials in Phase I/II and 2 in Healthy Volunteers. The prominence of Phase II trials suggests a prime focus on assessing efficacy and dosing of psychedelic drugs in the period from 2019 to 2023.

NZCR was formed in 2020 through the merger of Auckland Clinical Studies (ACS) and Christchurch Clinical Studies Trust (CCST) and is New Zealand’s leading early phase clinical research provider. In 2023, NZCR acquired Optimal Clinical Trials, a late phase clinical trials operation, to form the NZCR Group. NZCR Group brings experience in over 850 trials involving over 20,000 participants.

With physician led, world class research sites and six units located in Auckland, Christchurch, Wellington, and Hamilton, the NZCR Group conducts complex multi-phase clinical research in healthy participant and patient populations.

About NovotechNovotech-CRO.com

Founded in 1997, Novotech is a global full-service clinical Contract Research Organization (CRO) focused on partnering with biotech companies to accelerate the development of advanced and novel therapeutics at every phase.

Recognized for its industry-leading contributions, Novotech has received numerous prestigious awards, including the CRO Leadership Award 2023, the Asia Pacific Cell & Gene Therapy Clinical Trials Excellence 2023, the Asia-Pacific Contract Research Organization Company of the Year Award since 2006.

The Company offers a comprehensive suite of services including laboratories, Phase I facilities, drug development consulting, regulatory expertise, and has experience with over 5,000 clinical projects, including Phase I to Phase IV clinical trials and bioequivalence studies. With a presence in 34 office locations and a dedicated team of 3,000+ professionals worldwide, Novotech is a trusted end-to-end strategic partner of choice.

For more information or to speak to an expert team member visit www.Novotech-CRO.com

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Iveco Group signs a 150 million euro term loan facility with Cassa Depositi e Prestiti to support investments in research, development and innovation11.6.2024 12:00:00 CEST | Press release

Turin, 11th June 2024. Iveco Group N.V. (EXM: IVG), a global automotive leader active in the Commercial & Specialty Vehicles, Powertrain and related Financial Services arenas, has successfully signed a term loan facility of 150 million euros with Cassa Depositi e Prestiti (CDP), for the creation of new projects in Italy dedicated to research, development and innovation. In detail, through the resources made available by CDP, Iveco Group will develop innovative technologies and architectures in the field of electric propulsion and further develop solutions for autonomous driving, digitalisation and vehicle connectivity aimed at increasing efficiency, safety, driving comfort and productivity. The financed investments, which will have a 5-year amortising profile, will be made by Iveco Group in Italy by the end of 2025. Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a

DSV, 1115 - SHARE BUYBACK IN DSV A/S11.6.2024 11:22:17 CEST | Press release

Company Announcement No. 1115 On 24 April 2024, we initiated a share buyback programme, as described in Company Announcement No. 1104. According to the programme, the company will in the period from 24 April 2024 until 23 July 2024 purchase own shares up to a maximum value of DKK 1,000 million, and no more than 1,700,000 shares, corresponding to 0.79% of the share capital at commencement of the programme. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (“MAR”) (save for the rules on share buyback programmes set out in MAR article 5) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules. Trading dayNumber of shares bought backAverage transaction priceAmount DKKAccumulated trading for days 1-25478,1001,023.01489,100,86026:3 June 20247,0001,050.597,354,13027:4 June 20245,0001,055.705,278,50028:6 June20243,0001,096.273,288,81029:7 June 20244,0001,106.174,424,68

Landsbankinn hf.: Offering of covered bonds11.6.2024 11:16:36 CEST | Press release

Landsbankinn will offer covered bonds for sale via auction held on Thursday 13 June at 15:00. An inflation-linked series, LBANK CBI 30, will be offered for sale. In connection with the auction, a covered bond exchange offering will take place, where holders of the inflation-linked series LBANK CBI 24 can sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price of the bonds is predefined at 99,594. Expected settlement date is 20 June 2024. Covered bonds issued by Landsbankinn are rated A+ with stable outlook by S&P Global Ratings. Landsbankinn Capital Markets will manage the auction. For further information, please call +354 410 7330 or email verdbrefamidlun@landsbankinn.is.

Relay42 unlocks customer intelligence with a new insights and reporting module, powered by Amazon QuickSight11.6.2024 11:00:00 CEST | Press release

AMSTERDAM, June 11, 2024 (GLOBE NEWSWIRE) -- Relay42, a leading European Customer Data Platform (CDP), is leveraging Amazon QuickSight to power its new real-time customer intelligence, reporting, and dashboard module. Harnessing the breadth and quality of customer data, the new Insights module empowers marketing teams to dive deep into customer behaviors and gain invaluable insights into the performance of their marketing programs across all online, offline, paid, and owned marketing channels. Preview of the Relay42 Insights module, in pre-beta version Key capabilities of the Relay42 Insights module include: Deep insights into customer behaviors: With the Relay42 Insights module, marketers can ask unlimited questions about their data and gain a deeper understanding of how to serve their customers more effectively. Simplicity with AI-powered querying: Marketers can use artificial intelligence to query their data using natural language search, reducing the reliance on data scientists. Us

Metasphere Labs Announces X Spaces Event on the Topic of Green Bitcoin Mining and Sound Money for Sustainability11.6.2024 10:30:00 CEST | Press release

VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere Labs" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is thrilled to announce an engaging Twitter Spaces event on Green Bitcoin mining, energy markets, and sustainability on July 3, 2024 at 2 p.m. ET. Follow us on X at MetasphereLabs for updates and to join the event. What We'll Discuss Bitcoin Mining Basics: Understand the fundamentals of Bitcoin mining.Energy Market Dynamics: Explore how Bitcoin mining interacts with energy markets.Sustainable Innovations: Learn about our efforts to promote sustainability in Bitcoin mining.Sound Money: Discover how tamper-proof currency can enhance stability.Efficient Payment Rails: See how fast, neutral payment systems support humanitarian projects.Carbon Footprint: Compare Bitcoin's environmental impact with traditional banking. "We're excited to host this event and dive into the critical topics of Bitcoin

HiddenA line styled icon from Orion Icon Library.Eye