(MENAFN- Baystreet.ca) Psychedelics have gone mainstream.
All thanks to a wide range of research that points to success in treating a range of mental and other health related issues, including substance dependency, PTSD, anxiety, obsessive compulsive disorder, chronic pain, and even end-of-life anxiety.
There's so much interest some analysts say the psychedelics industry could be as much as $5 billion annually. "I have seen some investment groups out there who have invested $100 million in the last 12 to 24 months," says Tim Regan, vice president of capital markets for KCSA Strategic Communications, as quoted by The Growth Op .
In addition, COMPASS Pathways just raised $80 million to push its psilocybin therapy into Phase 3 development to help folks with treatment-resistant depression. The company received FDA Breakthrough Therapy designation for its program of psilocybin therapy in treatment-resistant depression in 2018, as highlighted in a recent press release.
Better still, according to Fredrick S. Barrett, an assistant professor at Johns Hopkins University School of Medicine, as quoted by The Next Web . "A single high dose of psilocybin, administered to properly screened individuals in a carefully controlled setting can have lasting positive effects on emotional functioning in healthy individuals. These effects were reflected in transient changes in the function of brain regions that support emotional processing."
In short, psychedelics may change the way we look at medicine - and significantly help improve the health and mental state of millions of people around the world. If that's the case, an market value estimate of $5 billion may be at the very low end.
As the growth story unfolds, some of the companies to keep an eye on include The Yield Growth Corp. (CSE:BOSS)(OTC:BOSQF), GW Pharmaceuticals (NASDAQ:GWPH), Champignon Brands Inc. (OTC:SHRMF)(CSE:SHRM), Mind Medicine Inc. (OTC:MMEDF) , and Revive Therapeutics Ltd. (CSE:RVV)(OTC:RVVTF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS : The Yield Growth Corp. announced its majority owned subsidiary NeonMind has entered into an agreement entitled "CLINICAL TRIALS START-UP STUDY AGREEMENT" with Translational Life Sciences Inc. to initiate clinical trials to test certain potential therapeutic effects of psilocybin and other compounds in psychedelic mushrooms. According to the terms of the engagement, signed on May 6, 2020, NeonMind and TLS shall work together to conduct the evaluation of psilocin or psilocybin on cravings, on the metabolism, on food addiction and on glucose and hormone levels. Neon authorizes TLS to perform activities required to prepare for and conduct the study and the parties shall work towards entering into a clinical study agreement. NeonMind shall pay for all costs related to the study and TLS shall arrange for prior approval by Health Canada, and engagement of all necessary parties to conduct the study.
TLS offers services to design and oversee clinical trials of restricted substances for third parties. Its team is composed of physicians and scientists who are recognized thought leaders in the fields of Neurology, Pharmacology, Pain Management, Addiction and Biochemistry and have significant experience in the clinical application of cannabinoid compounds.
The founder of TLS, Dr. Panenka, is a dually boarded Neurologist and Psychiatrist and Canadian Institute of Health Research funded academic faculty member at the University of British Columbia. Dr. Paneka did a post-doctoral fellowship at UBC and Harvard University, and maintains an internationally recognized research program in brain injury, mental health and addictions.
Other related developments from around the markets include:
GW Pharmaceuticals (NASDAQ:GWPH), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, will announce on May 11th, 2020 its financial results for the first quarter ending March 31st, 2020. GW will also host a conference call the same day at 4:30 p.m. ET. Conference call information will be provided in the financial results press release. A replay of the call will also be available through the Company's website.
Champignon Brands Inc. (OTC:SHRMF)(CSE:SHRM) announced its placement in an editorial published by NetworkNewsWire. "The expansion of the functional food and drinks sector has created a new opportunity. While cannabis and CBD have taken these consumables beyond the traditional active ingredients of alcohol and caffeine, this diversification of the market has opened up consumers to new possibilities. Among those possibilities is the use of natural ingredients found in mushrooms."
Mind Medicine Inc. (OTC:MMEDF) in collaboration with University Hospital Basel's Liechti Laboratory , has discovered and filed a patent application in the United States (preserving all worldwide rights) for a neutralizer technology intended to shorten and stop the effects of an LSD trip during a therapy session. This discovery, when further developed, may act as the ‘off-switch' to an LSD trip. MindMed is the leading psychedelic pharmaceutical company and the Liechti Laboratory is the leading research center focused on the pharmacology of psychedelic substances. This is the latest discovery based on surprising experimental results from work and collaboration conducted at the lab. The invention may help reduce the acute effects of a psychedelic drug and help shorten the hallucinogenic effects when required by a patient or medical professional. One of the many fears and stigmas associated with psychedelics are rare occurrences of ‘bad trips.' MindMed is seeking to equip therapists and other medical professionals with the resources and technology to better control the effects of dosing LSD in a clinical setting to improve the patient experience and patient outcomes. This advancement paves the way for greater therapeutic applications of LSD and shorter-acting psychedelic therapy treatments. MindMed believes this technology, when further developed, may one day be marketed as an added feature to shorten a therapy session and stop a session if the patient is not comfortable.
Revive Therapeutics Ltd. (CSE:RVV)(OTC:RVVTF) will investigate novel oral dosage forms of psilocybin , such as oral dissolvable thin films or tablets, based on the Company's wholly-owned patent-pending psilocybin formulations and its exclusive licensed drug delivery technology from the Wisconsin Alumni Research Foundation. "We are expanding our psilocybin-based pharmaceutical portfolio with unique oral dosage and drug delivery forms that will target and have the potential to treat diseases and disorders currently not investigated with psychedelic compounds," said Michael Frank, Revive's Chief Executive Officer. "We are combining our robust intellectual property portfolio in both psychedelic formulations and our drug delivery technology which is unique within the industry, and leveraging our research partnership with the University of Wisconsin-Madison to establish a specialty portfolio of psilocybin-based pharmaceuticals that we can advance to clinical trials and partnerships with other life sciences companies." Through initial evaluations with the Company's research team, it has been found there are several unique parallels between the Company's intellectual property portfolio of psilocybin-based formulations and delivery mechanism and the drug delivery technology, which is comprised of tannin-chitosan composites that have been studied with cannabidiol in the past. Revive intends to research both delivery mechanisms in parallel as each provides its own unique qualities such as the potential of rapid onset of action and time-release compositions. The future of psilocybin as a medication will come in many forms. The Company believes that the most optimal delivery method to pursue and unlock the potential of psilocybin to treat a broad spectrum of diseases and disorders will be in the form of both an oral dissolvable tablet and an oral thin film strip, commonly recognized as a ‘Breath Strip'. The Company is preparing its formulation development plans intending to pursue clinical studies for indications currently not being evaluated with psilocybin. We believe the combination of psilocybin and our tannin-chitosan delivery platform gives us a unique advantage.
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