Canadian biotech Lobe Sciences taps Australian CRO iNGENū for psychedelic drug trial

Lobe Sciences is hiring Australia-based CRO iNGENū to carry out at least three trials for the Canadian biotech’s psychedelic drug candidates.

Those trials, to be undertaken in Australia, will focus on Lobe’s psilocin analogues L-130 and L-131. The biotech will be in good hands, given that developing cannabinoid and psychedelic drugs is iNGENū’s specialty.

It also pays to do research business down under. The Australian Federal Government's research and development tax incentive program “will provide rebates to Lobe for up to 43.5% on eligible expenditures for Research and Development conducted in Australia,” explained Philip Young, CEO of Lobe Sciences, in a press release (PDF).

L-130 is a molecular modification of naturally occurring psilocin, a psychedelic. It is still in preclinical testing, but with iNGENū’s help it is expected to shortly enter into the clinical phase, with an initial focus on neurologic, brain and mental health disorders including post-traumatic brain disorder.

“We evaluated CROs in multiple geographies and chose iNGENu, as their core values match ours and our commitment to discovering transformational therapies for multiple central nervous system diseases and trauma,” Young added in the release.