Psychedelics are making a comeback after being banned for decades
Psychedelic drugs such asPsilocybin, LSD and Ketamine have long shown great potential in treating severe psychiatric conditions like depression,addiction, post-traumatic stress disorders and other conditions. However, the drawback was that they caused severe, long-lasting hallucinations, addiction and disorienting side effects. But, in the last decade, there's been a considerable amount of research from non-profit groups, universities, biotech firms and governments to advance these ingredients' therapeutic use by cutting down the harmful side effects.
The years of research have led to remarkableprogress in treating psychological disorders bytweaking the delivery mechanism of the chemical compounds used in the drugs. For instance, Bright Minds Biosciences is testing drugs that target the 5HT2A/2C receptors while factoring out the 5HT2B activity, thereby cutting off the adverse effects of heart-valve diseases. The trials are progressing well, and the outcomethus far is extraordinary.Likewise, the other biotech firms are also carrying outstudies and testing their versions of psychedelic drugs that can relieve depression, addiction and other mental disorders without causing hallucinations or dangerous side effects.
At the moment, there are two types of psychedelic drugs undergoing trials at various stages. The first derived from nature and the other synthetically made. Here's how they differentiate from the other
- Organic psychedelics - Are drugs that grow in a natural setting.
Examples: Psilocybin, DMT, Mescaline and Salvia.
Biotech firms in various research stages include Better Plant Sciences, Bright Minds Biosciences, Champignon drugs, Compass Pathways, Cybin, HAVN Life Sciences, etc.
- Synthetic psychedelics - Are chemically manufactured in labs.
Examples: LSD, Ketamine, MDMA.
Biotech firms in various stages of research comprise Field Trip Health, Mind Medicine,
While the debate rages on which among the two is a better psychedelic, studies have shown that psilocybin mushrooms have potential benefits in treating several psychological disorders like anxiety, depression, substance abuse, binge eating, PTSD, opioid withdrawal and others.Likewise, initial research has shown that synthetic drugs like Ketamine are effective against Major Depressive Disorder (MDD).
In the US, several regions have already legalised the use of Psilocybin, although it is still a Schedule-1 drug along with LSD, Mescaline, DMT, Heroin and MDMA. Ketamine, on the other hand, is a Schedule-3 drug. Nonetheless, regulatory hurdles prevent some institutional investors from investing in firms with Schedule 1-3 drugs.
In Canada, the government has allowed a handful of health care professionals to possess and consume psychedelic mushrooms legally. Besides, non-terminally ill patients can also consume psychedelic mushrooms for therapeutic reasons.
The sustained opening up of the industry has also led to several private psychedelic firms going public. Some have launched wellness products and even opened up wellness clinics to treat specific categories of psychological disorders.
With a growing acceptance of the health care benefits of psychedelic substances, the demand to invest in these companies is only intensifying. One example is Neo Kuma which set up a new venturecapital fund in the UK and has already made initial investments in Bright Minds Biosciences and a few other biotech firms. Besides, Horizons ETFs Management expects to launch the world's first Psychedelic Stock Index ETF (NEO:PSYK) in January 2021. The open-ended mutual fund would track 'The North American Psychedelic Stock Index,' allowing retail investors access to all the major biotech firms from the psychedelic space.
As the industry opens up further, millions of individuals undergoing trauma from various psychological disorders would benefit immensely from the long-awaited innovations in treatment. So, also would investors who chose to participate in this industry long overlooked by many others.
Besides a few biotechs already in the advanced stages of clinical trials, Bright Minds Biosciences is at the forefront of drug innovation. With an industry-first team of experienced drug developers, clinicians and discovery scientists at the helm, Bright Minds is advancing at a rapid pace. Watch out for the firm's public-listing on the Canadian Securities Exchange (CSE: DRUG) later this month.
For more information on the psychedelic industry, the role of Psilocybin and how Bright Minds Biosciences is planning to bring about a change in the drug delivery mechanism, login to https://brightmindsbio.com/
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