UK's Medicines and Healthcare products Regulatory Agency (MHRA) approved Psyence Group Inc. (OTCQB: PSYGF)’s application to assess the efficacy and safety of psilocybin-assisted psychotherapy compared to psychotherapy alone for treating adjustment disorder following an incurable cancer diagnosis in a Phase IIa clinical study.

The MHRA is the UK’s regulatory body equivalent to North America’s Health Canada and FDA, hence the importance of this green light. 

The company’s CEO, Dr. Neil Maresky, believes it holds “the real potential to allow Psyence to create a paradigm shift in the treatment of patients with an incurable illness, in order to improve quality of end-of-life and the standard of care.”

The trial is expected to begin by the end …

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