A couple of companies in the Magic Mushroom sector that are worth talking about are Compass Pathways (CMPS) and Minerco, Inc. (MINE). CMPS is ahead in the race is already working on a formulation of psilocybin to help with treatment-resistant depression.
4-AcO-DMT (or psilacetin) is a semi-synthetic tryptamine closely related to the psychedelic mushroom molecules psilocin and psilocybin. In fact, 4-AcO-DMT is widely known as “synthetic mushrooms.” Like psilocybin, it appears that the body metabolizes 4-AcO-DMT into psilocin.
Earlier this week, NeonMind (NMDBF) filed for four provisional patents. Psilocybin Alpha said, "The provisional patent applications include data derived from NeonMind's initial preclinical trial that began in November 2020, which examined the potential use of psilocybin as a treatment for weight loss.
“Clinical studies on psilocybin and other plant-based psychedelic compounds have shown that they have great potential to produce profoundly positive changes in individuals, particularly those struggling from serious mental health conditions like anorexia, depression, and PTSD,”
Psychedelic drugs essentially work opposite of an SSRI. While an SSRI inhibits serotonin processing in the brain to keep a more steady supply, psychedelics flood the brain’s neurotransmitters with chemical compounds present in the drugs that are similar to serotonin.
Psygen is a Calgary-based company specializing in the synthetic manufacture of psychedelic medicines. The company provides non-exclusive access to psychedelic drug products for clinical research, therapeutic applications and is a leading supplier for the emerging commercial market.
The Psychedelic Drugs market is growing rapidly due to the increasing prevalence of depression and other mental disorders worldwide. The need for handling environmental stress and enhanced and better quality of lifestyle is acting as a driver for the Psychedelic Drugs market.
Silverstone said where psychedelics are legal, private clinics are beginning to offer them but charge several thousand dollars. His clinic and online resource would make psychedelics more accessible.
Currently, Health Canada grants exemptions that allow for individual therapy sessions using psilocybin for the terminally ill. The new clinic will start with this mandate, but Harder hopes to see it expand.
The situation has prompted lawmakers to consider a measure that would remove psilocybin from the list of Schedule 1 substances, which includes heroin, LSD and ecstasy.
