Diamond Therapeutics

Diamond Therapeutics is a private Canadian clinical-stage company pioneering sub-perceptual (non-hallucinogenic) psilocybin therapy. Their approach focuses on low-dose psilocybin that does not produce psychedelic experiences, enabling at-home outpatient administration — a differentiated strategy from the clinic-based, high-dose psychedelic-assisted therapy model. Founded in 2018 by CEO Judith Blumstock, Diamond completed a Phase 1 single ascending dose study in healthy volunteers (n=56, 7 cohorts, December 2022) establishing a safe non-hallucinogenic dose range. Their Phase 2a GAD programme received Health Canada approval in January 2023 — the first Health Canada NOL for a psychedelic trial in GAD — and enrolled first patients at Kingston Health Sciences Centre in 2025 in the first-ever at-home microdose psilocybin study. A parallel FDA-authorized Phase 2 demoralization trial is also underway at UAB. Diamond is funded by private investors and non-dilutive public grants, including a $1.1M+ CQDM/Brain Canada drug discovery consortium launched in May 2025.