Compass Pathways' Historic IPO Shines Spotlight on Alternative Mental Health Treatments
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NEW YORK, Oct. 7, 2020 /PRNewswire/ -- Depression, anxiety, post-traumatic stress disorder (PTSD), and other mental illnesses have been prevalent in the US for quite some time, but the coronavirus pandemic has triggered a full-blown mental health crisis. Prior to the viral outbreak, the number of Americans suffering from mental illness was already alarmingly high and now there is evidence that COVID-19 can cause its own lingering psychological effects. A recent study that screened 402 adult survivors of COVID-19 found that 55% presented a clinical score for at least one mental disorder, including anxiety (42%), insomnia (40%), depression (31%), PTSD (28%), and OCD (20%). COMPASS Pathways plc's (NASDAQ:CMPS) historic $100 million initial public offering on the NASDAQ has added to the investment interest in what could be the next breakthrough therapies for these affiliations. Meanwhile, companies like Mydecine Innovations Group Inc. (CSE:MYCO), Mind Medicine (MindMed) Inc. (NEO:MMED) (OTCQB:MMEDF), Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP), and Numinus Wellness (TSXV:NUMI) (OTCPK:LKYSF) are also working on solutions to combat the problem.
Mydecine Innovations Group Inc. Brings Psychedelic Therapies and Telehealth Together
The growing visibility of the need for new and innovative treatments for mental illnesses is driving new research and development into psychedelics as psychiatric medicines. Mydecine Innovations Group Inc. (CSE:MYCO) (MYCOF) is at the forefront of this development. Mydecine is one of the few companies in the world with access to a full Health Canada Schedule 1 Controlled Drugs and Substances Dealer's Licence. This means that the company can legally cultivate, transfer, sell, and export pharmaceutical-grade psilocybin mushrooms for controlled therapeutic uses.
In addition to developing psychedelic therapies, Mydecine Innovations Group Inc. is also working to make these medicines more accessible in a COVID-19 world. As more patients turn to options that allow them to access mental health services from their own homes, the global telehealth services market is projected to grow to more than $185 billion by 2026. The company has developed the first telehealth platform designed specifically for psychedelic medicines, which recently launched on September 30. Mydecine's Mindleap Health connects patients with mental health professionals who are specially trained and up to date on psychedelics. The platform also allows patients to track their habits to ensure safe and effective treatment.
COMPASS Pathways Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de
|Diskussion: TNXP (Mkap $11 M) (Cash $18 M) 2 xPhase 3 Daten in Kürze|