Diamond Therapeutics Inc, a drug development company focused on low-dose psychedelic-derived therapies for use in the treatment of mental health, is pleased to announce it has received Health Canada approval to begin a Phase 2 clinical trial evaluating the safety, tolerability and efficacy of repeat low-doses of psilocybin for the treatment of generalized anxiety disorder (GAD). The approval comes by way of a No Objection Letter (NOL) from Health Canada.

According to Health Canada’s clinical trials database, this is the first study to treat patients suffering from generalized anxiety disorder with psychedelics.

GAD affects 6.8 million adults annually in the US, or about 3.1% of the population, yet only an estimated 43.2% of them receive treatment. Patients with GAD experience considerable impairment and disability, similar to major depression, with which GAD often co-occurs. As a result, GAD is associated with a significant economic burden owing to decreased work productivity and increased use of health care services, particularly primary health care. Despite its prevalence and the need for treatment, few Phase 2 or later-stage clinical studies explore new treatments for GAD.

Diamond’s trial is a four-week, Phase 2 randomized, double-blind study in adult patients with GAD with the potential for an additional four-week open-label extension. Patients will receive repeat low doses of psilocybin administered on a take-home basis. The study is among the world’s first take-home clinical trials with psilocybin and one of the most comprehensive.

“Building on the results of Diamond’s completed Phase I clinical trial, which established a safe, tolerable, non-hallucinogenic range for the use of low doses of psilocybin on an outpatient basis, this Phase 2 trial will explore the subjective and cognitive effects of low doses of psilocybin as well as effects on quality of life in adults who meet the criteria for GAD.”

Dr. Michael B. McDonnell, Chief Medical Officer of Diamond.

“We are grateful for Health Canada’s approval of Diamond’s latest clinical trial application, which brings us closer to our goal of developing psilocybin-based medicines that are safe and effective for patients, that are better than the current first-line, and that may be prescribed on an outpatient basis, removing the barrier of lengthy time spent in a clinic,” says Judy Blumstock, CEO of Diamond.

About Diamond Therapeutics

Diamond Therapeutics is a psychedelic drug development company based in Toronto. Our mission is to develop new and better therapies for mental health conditions by unlocking the promise of psychedelic compounds. Diamond is focused on sub-perceptual, non-hallucinogenic treatments that hold potential for use across a broad patient cohort —maximizing the positive impact better drugs can have on the global mental health crisis