Psychedelic Therapies Become New Biotech Hotspot Amid New Legitimacy

Nachrichtenquelle: PR Newswire (engl.)
02.11.2020, 14:50  |  2179   |   |   

NEW YORK, Nov. 2, 2020 /PRNewswire/ -- For decades, psychedelic therapy was only an experimental idea under research by organizations at academic institutions including Johns Hopkins. This changed in 2018 after life sciences company COMPASS Pathways plc (NASDAQ:CMPS) received Breakthrough Therapy Designation from the FDA for its psilocybin-based treatment for treatment-resistant depression. Now in 2020, psychedelic therapy looks primed to become one of the hottest new developments in the healthcare sector. Following in COMPASS's footsteps are pioneering companies like Mind Medicine (MindMed) Inc. (NEO:MMED) (OTCQB:MMEDF), New Wave Holdings (CSE:SPOR) (OTCPK:TRMNF), Revive Therapeutics (CSE:RVV) (OTCPK:RVVTF), and Johnson & Johnson (NYSE:JNJ), which are focused on developing psychedelics as medicines.

Biotech companies like MindMed are now stepping up to develop revolutionary new psychedelic therapies for mental health disorders like depression, PTSD, anxiety, and more, and these companies are receiving major funding from investors. As psychedelic therapy transitions from a theoretical solution to a breakthrough treatment, the potential of these treatments has become too great for federal regulators, and for investors, to ignore.

MindMed Takes Important Steps Forward With Psychedelic Therapy 

Mind Medicine (MindMed) Inc. (NEO:MMED) (OTCQB:MMEDF) is one of the pioneering companies looking to bring psychedelic medications into doctors offices and pharmacies around the world. MindMed acquired a Phase 2 study of LSD assisted therapy that is happening in the birthplace of LSD, Switzerland. MindMed is also now preparing a Phase 2b FDA clinical trial using LSD assisted therapy for an anxiety disorder. An estimated 284 million people suffer from anxiety around the world, making it the most prevalent mental health disorder. It is also preparing a Phase 2 trial of a medicine derived from the psychedelic substance ibogaine, intended to address opioid addiction, which costs the US economy $500 billion per year.

On September 25, Forbes reported that MindMed had applied for an up-listing to the Nasdaq, a move that would put MindMed hot on the heels of COMPASS Pathways after COMPASS became the first psychedelic-focused life sciences company to have an IPO on the Nasdaq. MindMed recently closed a financing for CA$28.5M made up of institutional investors and led by Canadian investment bank Canaccord Genuity. 

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Psychedelic Therapies Become New Biotech Hotspot Amid New Legitimacy NEW YORK, Nov. 2, 2020 /PRNewswire/ - For decades, psychedelic therapy was only an experimental idea under research by organizations at academic institutions including Johns Hopkins. This changed in 2018 after life sciences company COMPASS Pathways …

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