Lobe Sciences Ltd (CSE:LOBE, OTCQB:LOBED) has announced that it has entered into an exclusive research agreement with Australian-based contract research organization (CRO) iNGENū Pty Ltd to design and conduct three or more clinical trials evaluating the company’s proprietary psilocin analogues L-130 or L-131.
Lobe CEO Philip Young said iNGENū was an industry-leading, full-service CRO providing end-to-end services for companies developing cannabinoid and psychedelic drugs.
“We evaluated CROs in multiple geographies and chose iNGENū as their core values match ours and our commitment to discovering transformational therapies for multiple central nervous system diseases and trauma,” he said.
READ: Lobe Sciences files patent for preparation of stable psilocin prodrugs and analogues
He noted that, in addition to working with the talented team at iNGENū, the agreement would allow Lobe to benefit from the Australian Federal Government’s research and development tax incentive program which provides rebates of up to 43.5% of eligible expenditures for research and development conducted in Australia.
iNGENū CEO Sud Agarwal added that the CRO was pleased Lobe had trusted it with its clinical development needs. “We are impressed with their development of stable psilocin compounds which potentially offer greater dosing flexibility for multiple patient populations,” Agarwal said.
Lobe is a life sciences company engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.
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