silver spike acquisition corp good investment

IV-administered psilocin has the potential to offer more consistent therapeutic effects to patients, more controllable therapies to clinicians, and shorter treatment times – planned to be two hours or less – than orally-administered psilocybin exhibited in third-party clinical studies.įurther, Eleusis’s subsidiary Andala plans to solve the practical, “last mile” challenges of interventional psychiatric therapy. Combined with the lengthy treatment and observation periods in these trials – up to 6 hours – oral psilocybin could prove impractical for broad therapeutic use, even if it secured FDA-approval.Įleusis formulated ELE-Psilo to deliver psilocin, the active ingredient in psilocybin, via IV infusion. Academic trials of oral psilocybin revealed considerable variability in patients’ absorption and metabolism rates at identical doses, which may result in unpredictable pharmacokinetics and pharmacodynamics. When administered orally, however, psilocybin may only be “halfway” to a modern medicine. Third-party clinical studies investigating oral psilocybin have reported compelling anti-depressant effects. healthcare infrastructure and insurance coverage and reimbursement requirements. Eleusis designed ELE-Psilo, if FDA-approved, to be compatible with existing U.S. ELE-Psilo, Eleusis’s lead drug candidate, is being developed to treat depression and is expected to enter Phase I trials in 2022, subject to regulatory authorization. Upon the close of the transaction, the combined company will be operated through Eleusis Inc., a new holding company, and will apply to have its common stock listed on Nasdaq under the symbol “ELEU.”įounded in 2013, Eleusis is dedicated to transforming psychedelics into medicines. II (“SPKB”) (NASDAQ: SPKB/SPKBU/SPKBW), a publicly traded special purpose acquisition company (“SPAC”) sponsored by an affiliate of Silver Spike Capital (“Silver Spike”), announced today that they have signed a definitive business combination agreement expected to make Eleusis a public company. LONDON and NEW YORK – Janu– Eleusis, a clinical-stage life science company that aims to unlock the therapeutic potential of psychedelics, and Silver Spike Acquisition Corp. Merger also to support nationwide expansion of Eleusis’s subsidiary Andala, which manages in-network drug therapy clinics targeting the “last mile” challenge of psychedelic care delivery to address a potential $7 billion U.S.Medicines and Healthcare products Regulatory Agency’s Innovative Licensing and Access Pathway (“ILAP”), offering the potential to accelerate time to market Eleusis secured an Innovation Passport Designation for ELE-Psilo in adult treatment-resistant depression under the U.K.

ELE-Psilo program expected to enter clinical trials in Q2 2022 and to target the pressing need for rapid-acting antidepressants compatible with existing healthcare infrastructure and insurance.

Eleusis designed ELE-Psilo, a proprietary psilocybin-based drug candidate that is formulated for IV infusion and in development for the treatment of depression.Eleusis pioneers the development of psychedelic drug candidates in the life sciences space, with the goal of transforming psychedelics into broadly accessible medicines.II (Nasdaq: SPKB) expected to generate gross proceeds of up to $288 million and implies a combined enterprise value of $446 million Business combination with Silver Spike Acquisition Corp.

Silver spike acquisition corp good investment