Investor interest in alternative psychedelic medicine is on the rise, with billionaire investors, celebrities, and high-profile execs endorsing the psychedelic medicine market either by joining strategic advisory boards or making sizable investments. In fact, there is so much interest in psychedelics medicine that some analysts see the industry bringing in $6.85 billion by 2027 . Mental health is a big problem in America, with total spending on mental healthcare every year topping $195 billion. Mind Medicine (MindMed) Inc. (NEO:MMED) (OTCQB:MMEDF) has received sizable investments from Shark Tank host and celebrity investor Kevin O'Leary and former Canopy Growth CEO Bruce Linton. PayPal Holdings (NASDAQ:PYPL) co-founder Peter Thiel is also betting big bucks on the psychedelic drugs market through an investment in ATAI Life Sciences. At the same time, former Pfizer (NYSE:PFE) executive Michael Ehlers has joined the space by taking on an advisory role with psychedelics clinical company, Field Trip. Meanwhile, Mydecine Innovations Group (CSE:MYCO) (OTC:NLBIF) has undergone a name change and developed a new strategic focus to get in on the emerging market. Hallucinogens have even begun getting more airtime, with Netflix, Inc. (NASDAQ:NFLX) recently launching a star-studded documentary titled "Have a Good Trip: Adventures in Psychedelics."
Indeed, psychedelic drugs are moving away from their bad reputation and could be lining pharmacy aisles and new hospitals in the years to come if government bodies and billionaire investors continue to provide support.
Psychedelic Meds Gain Celebrity Backing
When the FDA granted Breakthrough Therapy designation to two psychedelic-based treatments in 2019 and approved Johnson & Johnson's ketamine-like nasal spray for depression, it opened up a flurry of investments. The sector even experienced the largest-ever private financing round of $80 million for Compass Pathways, a psychedelic medicine company. PayPal Holdings (NASDAQ:PYPL) co-founder, Peter Thiel, the legendary Silicon Valley billionaire investor who was an early business partner of Tesla CEO Elon Musk, and also recently led a $24 million financing round for ATAI Life Sciences, a privately held company developing psychedelic medicines..
Among the few publicly-traded psychedelic companies also conducting drug trials and garnering investor interest is Mind Medicine (MindMed) Inc. (MMED) (MMEDF), a neuro-pharmaceutical company that discovers, develops, and deploys psychedelic-inspired medicines to improve health, promote wellness, and alleviate suffering.
Prior to its IPO last year, Mind Medicine (MindMed) Inc. received investments from Shark Tank host and celebrity investor Kevin O'Leary, former Canopy Growth CEO Bruce Linton, and CEO and Founder of Bail Capital James Bailey. The company has raised nearly US$40 million. Having O'Leary on their side speaks volumes after the entrepreneur made it clear he would never invest in the cannabis industry. O'Leary said he decided to bet on MindMed and its psychedelic-based treatments because they "could save lives, cure depression, help alcoholism, get people off opioids."
Mind Medicine (MindMed) Inc. has been putting those investments to good use and has continued to move forward through the various phases of clinical trials for several of its novel treatments.
The company just announced that it is creating technologies and patents around optimizing the dosing of MDMA, LSD, and other psychedelics for patients.The company with its R&D partner University Hospital Basel has filed two separate patent applications that cover MDMA dose optimization and LSD dose-response.
Mind Medicine (MindMed) Inc(MMED) (MMEDF)also recently launched Project Lucy. The commercial drug development program for the treatment of anxiety disorders is the first experiential, psychedelic-assisted therapy to be added to the company's drug development pipeline. MindMed plans to initiate a Phase 2b human trial that will focus on experiential doses of LSD administered by a therapist and has established a task force to prepare a briefing package for a potential Investigational New Drug (IND) with the US FDA.
Former drug giant executive Dr. Michael Ehlerd from Pfizer (NYSE:PFE) sees the market's potential. Ehler, who has over two decades of academic and business experience in neuroscience and drug development, joined the space by taking on an advisory role with psychedelic clinics company Field Trip.
Another publicly-traded company recently entered the space through the acquisition of a private fungi research company. In May 2020, Mydecine Innovations (CSE:MYCO) (OTC:NLBIF), formerly NewLeaf Brands, acquired Mydecine Group, a vertically integrated company utilizing the vast medicinal, health, and wellness capabilities compounds found in various strains of mushroom and fungi.
The Future of Psychedelic Medicine
It's clear that psychedelic medicines are gradually becoming more widely accepted, with Canada, Denver, Colorado, and Oakland, California decriminalizing psilocybin mushrooms in the last year. Now that the FDA is on board with psilocybin and other psychedelic compounds for their medicinal purposes, there is an opportunity to completely disrupt the world of medicine.
In fact, psychedelics are becoming more acceptable by the day. In May, the world's leading entertainment service Netflix, Inc. (NASDAQ:NFLX) dove into the history of psychedelics and touched on the powerful role hallucinogens play in treating mental health. In its documentary "Have a Good Trip: Adventures in Psychedelics," a star-studded cast of actors, musicians, and comedians recount their own personal experiences with psychedelic drugs.
Of course, psychedelic pharmaceutical companies like Mind Medicine (MindMed) Inc. (MMED) (MMEDF) aren't focused on providing a good trip. MindMed is focused on discovering, developing, and deploying psychedelic-inspired medicines to alleviate suffering and improve health.
To learn more about Mind Medicine (MindMed) Inc. (NEO:MMED) (OTCQB:MMEDF), click here.
Disclaimer: Microsmallcap.com (MSC) is the source of the Article and content set forth above. MSC owns and operates Stockstreetnews.com. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Mind Medicine Inc.
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.
FN Media Group, LLCinfo@financialnewsmedia.com+1(561)325-8757
View original content:http://www.prnewswire.com/news-releases/psychedelic-medicine-stocks-garner-serious-investor-interest-301083414.html