Psychedelics are rapidly becoming both a mainstream treatment option and investment opportunity. With growing interest among researchers, forward-thinking companies are starting to build a presence in the space.
In this article, we will take a look at the growing body of therapeutic evidence for psychedelics. How decriminalization is gaining ground, and how Ehave Inc. (OTC: EHVVF) along with other public companies are positioning themselves in the psychedelic space.
A Growing Body of Evidence
A growing body of evidence supports the use of psychedelics to treat a variety of different medical conditions. In 2016, Johns Hopkins researchers found that psilocybin produced a substantial and sustained decrease in depression and anxiety in cancer patients. A follow-up study on the same patients five years later found lasting effects from the one-time therapy.
The therapeutic evidence has become so overwhelming that Johns Hopkins established the Center for Psychedelic and Consciousness Research earlier this year to start rigorously investigating the drugs’ therapeutic potential. Researchers believe that it could have a beneficial impact on everything from smoking addiction to Alzheimer’s disease.
In addition to medical benefits, there’s plenty of anecdotal evidence that microdoses of psychedelics could improve mental health, well-being and productivity. Many prominent business leaders in Silicon Valley, including the late Steve Jobs, praised the benefits of microdosing psychedelics for creativity and cognition.
Decriminalization Gain Ground
The growing interest among researchers has bolstered attempts by activists to decriminalize psychedelics throughout the country. Denver, Oakland and Santa Cruz have already decriminalized psychedelics over the past year, while California, Oregon and Iowa could see psychedelic-related measures on the ballot in November.
In the nation’s capital, Rep. Alexandria Ocasio-Cortez, D-NY recently introduced legislation that would allow researchers to more easily study the therapeutic and medicinal benefits of psilocybin and other psychedelics. These developments mirror what happened in the early medical cannabis industry where regulations were slowly relaxed over time.
It’s worth noting that these early efforts seek to decriminalize psychedelics and pave the way for research. Unlike the cannabis industry, there’s less interest in a recreational market and more interest in building a viable alternative therapy for countless different medical conditions that impact the brain—many without any current options.
Investors Start Taking Notice
Mind Medicine Inc. (NEO: MMED), better known as MindMed, became the first psychedelic pharmaceutical company to go public earlier this year on the NEO exchange. After raising $24.2 million in pre-public funding, the company plans to initially focus on addressing the opioid crisis and other forms of addiction with the use of psychedelics.
Ehave Inc. (OTC: EHVVF) is another publicly-traded company in the space. Its Mycotopia Therapy subsidiary recently acquired PsychedeliTech and plans on hosting an inaugural PsyTech Summit in Tel Aviv, Israel on June 14-15, 2020. The conference will be modeled after the highly-successful CannaTech conference and connect key industry participants.
The company believes that it’s Dash platform will play a crucial role in the global advancement of psychedelic research. As a HIPAA and GDPR compliant platform, Dash is secure and compliant with some of the world’s strictest privacy laws. It’s an optimal way to compile psychedelic research and results to provide easy access for scientists globally.
Psychedelics are quickly picking up steam among both researchers and investors. As the market opens up, forward-thinking companies are building an early presence in the space before it grows into a large and mainstream industry. Cannabis investors may want to consider building a position in some of these companies given the similarities.