While many 2020 memories will be gladly left behind, that's not necessarily the case for psychedelics.
There was unprecedented renaissance as psychedelic compounds, and their potential to treat mental health conditions, became one of the centerpieces of this year’s public conversation.
Psychedelic companies — those researching and producing these compounds — jumped into the spotlight of investment markets, with almost two dozen psychedelics companies going public between February and December.
A public, institutional and financial interest in psychedelics ushered in a series of regulatory and legislative measures that opened the floodgates to levels of research never before seen in the space.
Psychedelics Companies Go Public
Since then, at least 20 more companies hit the public exchanges.
Canada’s fitting environment for small-cap venture investment, laid down by the mining sector, established the perfect runway for psychedelics companies to debut in the public markets, following the steps that cannabis took back in 2014.
A number of psychedelics companies went public at Canadian exchanges through reverse take-overs with “shell” companies from the mining sector. Others chose the more expensive, more reputable IPO route.
Other public psychedelics companies today include:
- Better Plant Sciences (CSE: PLNT) (OTCQB: VEGGF)
- Champignon Brands Inc. (CSE: SHRM) (OTCQB: SHRMF)
- Cybin Corp (NEO: CYBN)
- The Delic (CSE:DELC)
- Ehave Inc (OTC: EHVVF)
- Entheon Biomedical (CSE: ENBI)
- Field Trip Health (CSE: FTRP) (OTCBB: FTRPF)
- Numinus (TSXV: NUMI)
- Havn Life Sciences (CSE: HAVN)
- Lobe Sciences (CSE: LOBE) (OTC: GTSIF)
- Mind Cure Health (CSE: MCUR)
- Mydecine (CSE: MYCO) (OTC: MYCOF)
- New Wave Holdings (CSE: SPOR) (OTC: TRMND)
- Red Light Holland (CSE: TRIP)
- Revive Therapeutics Ltd. (CSE: RVV) (OTC: RVVTF)
MAPS Leads Legalization Race With MDMA-Assisted Therapy
The Multidisciplinary Association for Psychedelic Studies has gotten closer than ever to getting the first psychedelic drug legalized in the U.S., with the advancement of its research program on MDMA for the treatment of post-traumatic stress disorder.
After 34 years of advocacy work and research, the NGO is currently leading phase 3 clinical trials for the MDMA. In August, MAPS closed a $30 million funding round to complete the last tranche of research needed to convince the FDA to legalize the drug federally.
The first part of the phase 3 trials concluded …