Psychedelic new therapies offer promising indications as future mental health solutions, however, the industry has a steep road ahead in terms of research and legislation.
Further research is required to map out the clinical pharmacology – the battle for legislation is yet to be fought – and the consumer and patient biases need to subside.
Regardless of these hurdles the industry is experiencing immense optimism for its potential to revolutionise the mental health industry.
The Psychedelics Bull Run Has Begun ?
“A single dose of psilocybin, a compound found in “magic mushrooms,” provides long-term relief of anxiety and depression in cancer patients.
In fact, cancer patients who were given psilocybin reported reductions in anxiety, depression, hopelessness, demoralization, and death anxiety more than four years after receiving the dose in combination with psychotherapy.
Our findings strongly suggest that psilocybin therapy is a promising means of improving the emotional, psychological, and spiritual well-being of patients with life-threatening cancer.”
Who are the players?
While only few companies are available for the public to invest, many are emerging and attracting private support and funding.
Atai Lifesciences – German based, Global psychedelic pharma holding company formed by ultra-high net worth individuals and big pharma, $150M+.
Compass Pathways – London based psychedelic giant, Atai’s bet on psilocybin as an approved drug for depression, planning IPO 2020.
Usona Institute – A Wisconsin based non-profit powerhouse competing with Compass Pathways to approve psilocybin for depression.
Wuhan General Group (OTC: $WUHN) – Montreal based, cosmetics and food for special medical purposes (FSMP) company with cannabinoid and psilocybin research, formulation and delivery system divisions. (full disclosure: Jeff is the CEO, Dr.Anna is the CMO and Luka the Head of Product)
Eleusis Benefit Corporation – New Orleans based discovery/clinical stage Psychedelic pharma company supported by industry scientists, raising $25M.
FieldTrip Ventures – Toronto based, Aurora backed magic mushroom research and development company building clinical and production infrastructure, raising $10M+.
ThinkMyco – Vancouver based holding company developing disruptive mushroom production technology and next generation therapeutics, raising $5M+.
Universal Ibogaine – Vancouver based Ibogaine clinical development company franchising the world’s most advanced ibogaine clinical model, raising $10M+, RTO in 2020.
Entheogen Biosciences – Vancouver based company pursuing psilocybin and DMT based drug development, raising $3M, RTO in 2020.
Salvation Botanicals – A Vancouver based company touting a private controlled substances site license and supporting clinical research, raising $10M+, RTO in 2020.
Numinus Wellness – Vancouver based wellness company building testing as well as clinical infrastructure, raising $3.65M, RTO in 2020.
Cybin Corp – Toronto based research and development company building drug development and production infrastructure as well as nutraceutical assets in legal jurisdictions, raising $3M.
Emerging Players – There are a number of emerging players, around $15M in emerging deals in Q3 2019 / Q1 2020 which have not passed due diligence.
The psychedelics sector promises to be most exciting and rewarding. Do your homework. Learn from all the mistakes made in the cannabis sector. This is not about recreational use, this is about sound science and research. The big winners are not companies making new mushroom soups, it is those conducting real clinical work.