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(Alliance News) - Seed Innovations Ltd highlighted on Monday progress for an anti-depressant therapy by a firm in which it holds a significant stake.
AIM-listed Seed which invests in the medical cannabis, health, and wellness space, was referring to an announcement by Little Green Pharma Ltd in which it holds 7.32 million shares or 2.8% of LGP's share capital.
Reset Mind Sciences, a wholly-owned subsidiary of LGP, has received ethics approval to conduct clinical trials into the efficacy and safety of psilocybin assisted therapy involving family members for patients with treatment resistant major depressive disorder.
The trial will focus on development and refinement of best practice psychotherapy protocols to accompany administration of psilocybin and is expected to take around 12 months to complete.
Shares in Seed Innovations closed down 4.4% at 2.20 pence in London on Wednesday.
By Jeremy Cutler, Alliance News reporter
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