Scottsdale, Arizona, United States, October 13, 2026
Jocasta Neuroscience and Diamond Therapeutics have entered into a joint research agreement to investigate three novel non-hallucinogenic, psychedelic-inspired compounds for potential use in treating cognitive impairment and neurodegenerative diseases. Announced on October 13, 2026, the collaboration aims to explore whether compounds inspired by psilocybin can deliver potential cognitive benefits while avoiding hallucinogenic effects that may limit their clinical application. Under the agreement, Jocasta will fund the research program and evaluate three new chemical entities discovered by Diamond Therapeutics. The companies will conduct preclinical studies to assess the compounds’ pharmacokinetics, behavioral effects and cognitive performance. If the research program is successful, Jocasta will have the option to obtain an exclusive, royalty-bearing global license to research, develop, manufacture and commercialize the compounds. The partnership expands Jocasta’s neuroscience pipeline and highlights continued pharmaceutical research into alternative approaches for addressing cognitive decline.
Three Investigational Compounds Target Serotonin Receptors
The research program will focus on three investigational compounds that act as 5-HT2A receptor agonists, a class of molecules that interact with a serotonin receptor involved in several neurological processes. Psilocybin, a naturally occurring psychedelic compound, is converted in the body into psilocin, which interacts with serotonin receptors and has been investigated for potential therapeutic applications. However, the hallucinogenic effects associated with conventional psychedelic compounds can create practical challenges for treatment delivery, monitoring and patient acceptance. The compounds developed by Diamond Therapeutics are designed to mimic psilocybin’s receptor occupancy pattern while avoiding activity associated with hallucinogenic effects. The goal is to investigate whether selected signaling pathways can be engaged to support cognitive function without producing unwanted perceptual effects. The research team plans to evaluate pharmacokinetic properties, behavioral responses and cognitive performance in preclinical models. Compounds that demonstrate improvements in cognitive performance without hallucinogenic-like effects will be prioritized for further development. These findings will help determine whether any candidate warrants additional research. At this stage, the compounds remain investigational, and their safety and therapeutic effectiveness in humans have not been established.
Research Collaboration Addresses Neurodegenerative Disease Needs
Cognitive impairment and neurodegeneration represent significant challenges for patients, caregivers and healthcare systems. Conditions associated with progressive neurological decline can affect memory, learning, decision-making and the ability to perform everyday activities. Existing treatments may provide benefits for certain symptoms or patient groups, but many individuals continue to face limited therapeutic options. Jocasta and Diamond aim to investigate a different approach by exploring psychedelic-inspired molecules designed to influence receptor signaling without triggering hallucinogenic responses. The scientific rationale involves the potential relationship between serotonin receptor activity, neuronal signaling and processes associated with neuroplasticity. Nevertheless, demonstrating activity at a receptor does not automatically establish improvements in cognition or protection against neurodegeneration. The planned preclinical research will therefore be important in determining whether the three compounds produce measurable cognitive effects and acceptable preliminary safety characteristics. Further laboratory and animal studies, followed by appropriately designed human clinical trials, will be necessary before any potential treatment benefits can be confirmed. The companies have not announced a clinical-trial start date for these three compounds.
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Licensing Option Strengthens Jocasta’s Drug Pipeline
Under the agreement, Jocasta will finance the joint research program and make an upfront payment to Diamond Therapeutics through a convertible debenture exchangeable into Diamond’s preferred shares. If Jocasta exercises its exclusive licensing option, Diamond could become eligible for additional development and commercial milestone payments, together with tiered royalties on future net sales. The companies have not disclosed the full financial terms. The collaboration complements Jocasta’s lead candidate, JN-0413, an investigational alpha-klotho-based therapeutic being developed for cognitive decline associated with neurodegenerative disease. Jocasta has indicated that it expects to begin first-in-human clinical trials of JN-0413 in early 2027. Diamond Therapeutics, meanwhile, focuses on developing novel compounds for mental health and neurological conditions, including therapies designed to explore the potential of psychedelic-related mechanisms. By combining Diamond’s medicinal chemistry expertise with Jocasta’s focus on cognitive impairment, the research program creates another potential route for expanding the companies’ development portfolios. Future progress will depend on the preclinical results, subsequent licensing decisions and the ability of any selected candidate to meet the necessary safety and efficacy requirements.
The collaboration represents an early-stage research effort to investigate non-hallucinogenic compounds for cognitive impairment and neurodegenerative diseases. While the approach offers a potential avenue for drug discovery, its clinical value remains uncertain. The planned studies will help determine whether these compounds can advance beyond preclinical research and eventually support the development of new treatment options for patients with cognitive decline.
Source: Jocasta Neuroscience, Diamond Therapeutics press release
