The psychedelics story has gone mainstream.
For one, the US FDA is supportive of psychedelics research.
Two, medical studies from institutions such as Johns Hopkins are finding that psychedelics can assist in the treatment of many health and mental issues impacting millions of people around the world.
A study in the journal, Nature -- Psilocybin for treatment-resistant depression: fMRI-measured brain mechanisms – showed that 47% of treatment-resistant patients with depression showed positive responses five weeks after psilocybin treatments.
“Our study demonstrates that psychedelics can produce beneficial behavioral effects without drastically altering perception, which is a critical step towards producing viable medicines inspired by these compounds," said David Olson of UC Davis, as quoted by Esquire.
Researchers at New York University found psilocybin mushrooms caused a “rapid and sustained” reduction in anxiety and depression in patients with cancer, as reported by the Financial Post. The list of findings goes on and on.
Three, there’s rapidly changing consumer attitudes towards psychedelics, just as we saw with cannabis around the world.
Four, with plenty of clinical trials supporting psychedelic treatments, it’s only a matter of time before big pharmaceutical companies begin to invest heavily, and incorporate psychedelics into their own drug pipelines.
Five, “Some early-stage investors are betting the drugs could disrupt the US$70 billion market for mental health treatment. The wave of enthusiasm over cannabis shares in recent years has, in some ways, spread to these drugs that were long associated with all-night rave parties,” as noted by the Financial Post.
One of the Most Interesting Psychedelic Companies is NeonMind Biosciences Inc. (CSE: NEON)
The company just announced the appointment of accomplished pharmaceutical executive Robert Tessarolo as its President and Chief Executive Officer.
Mr. Tessarolo has 25 years of experience in the pharmaceutical industry. Most recently he held the position of President and Chief Executive Officer of Mind Medicine (Mindmed) Inc., a psychedelic drug discovery and drug development company now traded on the NEO exchange, from September 2019 to January 2020. Prior, Mr. Tessarolo was President and Chief Executive Officer of Cipher Pharmaceuticals Inc., a diversified specialty pharmaceutical company listed on the Toronto Stock Exchange. His experience includes executive and key leadership roles that span over two decades including commercial and business development experience with obesity, addiction and neurologic assets.
“These are exciting times in psychedelic drug development. There is an array of dynamic molecules that have been well characterized over the years but have not been adequately studied in the rigorous clinical trials necessary for regulatory approval. NeonMind grabbed my attention with its distinctive focus on the obesity market and desire to bring new treatment modalities to patients suffering with obesity. Over the years promising new drugs to treat obesity have failed to gain regulatory approval. This market remains underserved and patients dissatisfied with current treatment options. A safe and effective new approach would be well received," says NeonMind President and CEO, Robert Tessarolo. “NeonMind’s unique intellectual property portfolio makes it well positioned for growth. I’m grateful to be at the helm of this organization to lead its growth as it matures and makes what could be a truly significant impact on the health and well-being of populations worldwide.”
Mr. Tessarolo has extensive operational experience and an impressive track record of scaling high growth organizations in the pharmaceutical industry through product innovation and M&A. He was part of the early team at MindMed, a pioneer in psychedelic drug development and the first psychedelics company to list on a public exchange. Cipher Pharmaceuticals Inc. , which focuses on acquisitions, in-licensing, and selective investments in drug development, under his leadership, was restored to positive EBITDA with the execution of seven business development transactions in less than 18 months. He was the first employee of Watson Pharmaceuticals in Canada. Underhis leadership revenue grew from zero to $190M and he led the Canadian integration of major M&A transactions including Watson integration of Warner Chilcott (~$5B global acquisition), Forest Laboratories (~$28B global acquisition) and Allergan (~$66B global acquisition) in less than 18 months. He has secured tens of millions in financing and hundreds of millions in revenue for companies under his leadership.
In preparation for Robert Tessarolo’s appointment, NeonMind founder Penny White has been appointed Executive Chairman of the Board and today stepped down as President and CEO of NeonMind. “The board is pleased to welcome Robert Tessarolo to the team,” says Executive Chairman Penny White. “Rob has the experience, drive and vision to lead NeonMind into the future and we are confident in his ability to deliver growth in value for our shareholders.”
Psychedelics Could Create $100 Billion Opportunity, says Eight Capital
Other psychedelic companies are seeing interest, too, like Mydecine Innovations Group (CSE:MYCO)(OTC:MYCOF), Mind Cure Health Inc. (CSE:MCUR)(OTC:MCURF), Red Light Holland Corp. (CSE:TRIP)(OTC:TRUFF), and Numinus Wellness Inc. (TSXV:NUMI)(OTC:LKYSF).
Mydecine Innovations Group (CSE:MYCO)(OTC:MYCOF), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, has been included in the first-ever Psychedelics Exchanged Traded Fund (ETF). The Horizons Psychedelic Stock Index ETF index, which was announced in December 2020 and includes 17 companies in the U.S. and Canada, is expected to start trading on Tuesday, January 26 under the ticker PSYK on the NEO exchange.
Mind Cure Health Inc. (CSE:MCUR)(OTC:MCURF) is pleased to announce its inclusion among 17 psychedelic companies in the first ever Psychedelic ETF. Horizon's Psychedelic ETF, is expected to commence trading Jan. 26, 2021 under ticker PSYK on the NEO exchange. The ETF includes companies in the Canadian legal psychedelics industry, as well as U.S. companies engaged in legal activities involving psychedelic drugs and substances. The purpose of the ETF is to "invest in, and indirectly derive revenues from, companies in the psychedelics industry engaged in legal activities involving psychedelic drugs and substances."
Red Light Holland Corp. (CSE:TRIP)(OTC:TRUFF) just announced it has entered into a non-binding letter of intent to acquire 100% of Mera Life Sciences LLC, a company focused on developing a modern medicinal industry in St Vincent and the Grenadines, with their issued Psychedelic Licenses. "The acquisition of Mera and its coveted licenses would allow Red Light Holland to perform high quality psychedelic product research and development, cultivate, extract and process, and export not just Psilocybin, but with compounds such as Ayahuasca, MDMA, DMT, Peyote, Ketamine and many other natural based plants as well. We are The People's Company and we want to work closely with countries wishing to develop plant and fungus-based remedies - including treatment clinics, and we now understand that St. Vincent and the Grenadines shares our vision." said Todd Shapiro, CEO and Director of Red Light Holland.
Numinus Wellness Inc. (TSXV:NUMI)(OTC:LKYSF), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), is excited to announce it has acquired the Orbitrap Exploris 120 mass spectrometer with Vanquish Flex Binary instrument for its continued research and development of Psilocybe mushroom related projects at Numinus Bioscience, the Company's 7,000 square foot analytics and research laboratory. Implementation of the Orbitrap, a state-of-the-art high resolution mass spectrometry instrument, will continue the accelerated trajectory of Numinus Bioscience’s research strategy to optimize cultivation, harvest, and extraction of Psilocybe mushrooms. This follows Numinus’ successful completion of the first legal extraction in Canada by a public company for research and development purposes in December.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. NeonMind Biosciences Inc. has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of NeonMind Biosciences Inc. Please click here for full disclaimer.
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