Lobe Sciences Ltd (CSE:LOBE, OTCQB:LOBEF) told investors that it reached a significant breakthrough after its lead clinical asset, L-130, surpassed the 12-month stability milestone with no signs of degradation.
In a statement, the company noted that the stability report for L-130, a proprietary stabilized psilocin conjugate drug candidate, is significant as no manufacturer of psilocin has to date reported a formulation of psilocin stable enough to be administered in a shelf-stable orally available formulation.
As psilocybin itself is not biologically active in humans and must be converted into psilocin via dephosphorylation in the gut, Lobe said it believes that L-130 has a significant advantage over other psilocybin formulations.
By eliminating this first-pass metabolism, the company noted that industry experts believe that direct administration of psilocin may offer therapeutic benefits such as faster onset time, improved dosing consistency, increased bioavailability and importantly, the potential for reduced side effects.
“L-130 was designed in collaboration with Quality Chemical Laboratories (QCL) based on the needs for a shelf-stable oral molecule that can consistently deliver psilocin directly, therefore eliminating the inconsistencies and variabilities seen with psilocybin,” Lobe Sciences chairman and CEO Philip Young commented.
“This is principally due to psilocybin’s need for first-pass metabolism.”
QCL founder and CEO Dr Yousry Sayed added: “Our team has been happy to be part of such an exciting and innovative collaboration. We look forward to our ongoing partnership with Lobe as we work to deliver needed therapies to patients with Orphan diseases.”
Lobe Sciences is dedicated to developing transformative medicines for rare diseases. In collaboration with industry-leading partners, the company is also engaged in drug research and development utilizing non-hallucinatory doses of stabilized psilocin-based compounds to address unmet medical needs in orphan neurological therapeutic applications.
Contact the author at stephen.gunnion@proactiveinvestors.com