Quick Take:

  • FT-104, which acts similarly to psilocybin, will produce a shorter duration (2-3 hours) of psychoactivity than psilocybin.

Field Trip Health Ltd. (NASDAQ: FTRP), a global leader in the development and delivery of psychedelic therapies, announced today the lead indications for FT-104, its novel psychedelic compound in development, will be Treatment Resistant Depression (TRD) and Postpartum Depression (PPD). Field Trip today also announced that Anita H. Clayton, MD, Chair of Psychiatry and Neurobehavioral Sciences at the School of Medicine at the University of Virginia, has joined its Scientific Advisory board.

Through Field Trip Discovery, its drug development division, Field Trip is developing next-generation psychedelic molecules. Its first molecule in development, FT-104, a prodrug, is a synthetic serotonin-2A (5HT2A) agonist whose active component has serotonin-2A potency similar to psilocybin. Importantly, however, the active component of FT-104 is expected to produce a reliably shorter duration of psychoactivity (2-3 hours) than psilocybin, and has high bioavailability after administration.

Preclinical activities that will enable commencement of Phase I clinical trials in calendar Q1 2022 are ongoing and are expected to continue through to the end of calendar 2021. After completion of the Phase 1 and opening of a US-IND, Field Trip intends to initiate Phase IIA studies in TRD, following which Phase II studies in TRD and PPD are expected to be conducted substantially in parallel.

Treatment Resistant Depression

It is estimated that, globally, there are 322 million people who suffer from major depressive disorders1, of which approximately 33%, or 100 million people, meet the diagnostic criteria for TRD. There are few alternatives for people suffering with TRD and those who are diagnosed with TRD have typically failed first and second line therapies, thus TRD represents a significant unmet need for effective treatments. Beyond the quality of life impacts, people with TRD have higher costs of care and tend to experience decreased work productivity.

Postpartum Depression

Postpartum depression affects about 10-15% of all mothers of newborns, with an estimated prevalence of 400,000 diagnosed patients in the U.S. per year.2 The only currently approved therapy for PPD requires a significant time commitment away from family and newborn (2.5-3 days) while serotonin reuptake inhibitors (SSRIs) used off-label take a long time for onset and only show limited efficacy. This represents a potential concern for the safety, well-being and long-term development of the child.3  

“Given our encouraging preclinical results to date, we believe that FT-104 has the potential to transform approaches to hard-to-treat depressive disorders. Our preclinical activities are expected to continue through 2021 with the goal of determining the pharmacokinetics, metabolism and routes of elimination in animal species, as well as safety pharmacology. Selecting our two main indications is a significant milestone for Field Trip, and will guide our clinical strategy as we design our Phase II trials and work toward drug commercialization.”

Dr. Nathan Bryson, Field Trip’s Chief Scientific Officer

Appointment of Anita H. Clayton, MD

Anita H. Clayton, MD is the David C. Wilson Professor and Chair of Psychiatry & Neurobehavioral Sciences and Professor of Clinical Obstetrics & Gynecology at the University of Virginia. She has published over 200 peer-reviewed papers, and was named to the 2019-2020 Best Doctors in America list. She has focused her clinical practice and research on major depressive disorder, mood disorders associated with reproductive-life events in women including PPD, sexual dysfunction, and sexual disorders.

“A significant population of patients with depressive disorders do not find adequate symptom management from the current options. Major depressive disorder (MDD), treatment-resistant depression (TRD) and postpartum depression (PPD) share similar etiologies and negatively impact functioning. Women are twice as likely as men to be diagnosed with depression, and a significant unmet need exists for TRD and PPD. Fast-acting medicinal agents that provide immediate and long-lasting relief are critically lacking. I am looking forward to examining whether the serotonin agonist compound, FT-104, may have such effects,”

Anita H. Clayton, MD

About Field Trip Health Ltd.

Field Trip is a global leader in the development and delivery of psychedelic therapies. With our Field Trip Discovery division leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics and our Field Trip Health division building centers for psychedelic therapies opening across North America and Europe along with the digital and technological tools that will enable massive scale, we help people in need with a simple, evidence-based way to heal and heighten engagement with the world.