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Universal Ibogaine (TSXV:IBO) recently secured C$6 million in financing and #UniversalIbogaine CEO Dr. Rami Batal said the funding will help the company optimize and work towards achieving their ambition to develop a new innovative addiction treatment model even pre Ibogaine.
“We have closed a private placement of C$6 million which is going to allow us to acquire the #KelburnLaboratory for the development of such a model. The lion’s share of the proceeds is going to be invested in a clinical development program that will ultimately convince Health Canada that there’s a path there toward #medicalization and commercialization,” said Dr. Batal.
Ibogaine is a neuroactive compound that has demonstrated an ability to reset the brain and nervous system to pre addicted states. Dr. Batal explained that Ibogaine is essentially the elixir for the growth of neurons bringing the brain back, and rewiring it to a pre-addictive state.
“It is very exciting because Ibogaine does not only give us the window of protection in terms of no craving and in decoupling from addiction. It allows the brain also to receive other treatments that have been hard to incorporate in the past after treatment. You would see a role for psychotherapy and other modalities as well,” Dr. Batal added.
“We have to go through a clinical trial process to prove the claims for safety and efficacy. There will be rigorous screening, actual medical detoxification, and patients will undergo a rehabilitation setup. It’s a complete system solution that would be value added based on this central modality of Ibogaine administration.”
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