Clairvoyant Therapeutics
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Clairvoyant Therapeutics was a Vancouver clinical-stage biotech founded in 2021, developing synthetic psilocybin as a treatment for alcohol use disorder. Its flagship program, CLA-PSY-201, was a randomized double-blind Phase 2b trial of two 25mg psilocybin doses plus psychotherapy versus placebo, run across 12 clinical sites in Canada and Europe with 154 randomized subjects.
02 / Clairvoyant Therapeutics FAILURE REASONS
Failure factors supported by the current evidence
MNP Ltd.’s 14 Nov 2024 preliminary report to creditors states Clairvoyant Therapeutics Inc. ran net losses in FY ended Nov 2023 and into 2024; between June and October 2024 management pursued financing, equity, and acquisition options to fund operations, none of which closed, leaving insufficient capital to continue.
The company incurred net losses in the fiscal year ended November 2023, continuing into fiscal 2024.
June–October 2024 financing, equity, and acquisition discussions to fund operations did not materialize.
The trustee states that failure of those funding arrangements left insufficient capital to continue operating.
03 / EVENT HISTORY
Events in the structured record
- Bankruptcy
MNP Ltd. estate page: Vancouver clinical-stage AUD psychedelic biotech Clairvoyant Therapeutics Inc. made a voluntary assignment in bankruptcy effective 31 Oct 2024; MNP Ltd. appointed Licensed Insolvency Trustee (estate 11-3148323).
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Synthetic psilocybin Phase 2b for alcohol use disorder (154 subjects)
- 02
Topline readouts repeatedly delayed; a Series A raise was underway
- 03
Psyence Biomed's $500K rescue acquisition fell through Oct 2024
- 04
Voluntary bankruptcy assignment Oct 31, 2024; MNP Ltd appointed trustee