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The Need for Psychedelic Medicine is Now. Who Will Save Us?

Mental Health is talked about now more than ever, and as the globe continues to struggle with an altered reality at the hands of the global pandemic, patients affected by depression and depression related illnesses are increasing at an astonishing rate. Traditional forms of medicines available have been proven ineffective for more serious cases of depression, such as treatment resistant depression (TRD) and major depressive disorder (MDD), leaving patients searching for a solution that seemingly does not exist. Through tireless efforts and pure dedication, scientists around the world have once again begun to explore the unique medical effects of psychedelic compounds to offer a realistic treatment for those patients faced with little hope of stability. Within the course of the past few years, several companies have emerged as leaders in the industry based on current studies and compounds that are drawing the attention of investors everywhere.

Compass Pathways (CMPS.NASDAQ) is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health. The focus of the company is to improve the lives of those who are suffering with mental health challenges and who are not helped by current treatments. Often labelled as the pioneer of psychedelic biomed, the company recently went public and raised an astounding $146.6 million to be used for clinical development, R&D programs, and to continue work on digital technologies Turning a great deal of attention to the sector with its ability to raise funds seamlessly and produce an impressive overall market cap, Compass Pathways has most certainly set the standard for future psychedelic biomedical companies. Focused on TRD and Headquartered in London, UK, with offices in New York, USA, the vision of the company is a world of mental wellbeing. Compass has targeted the development of a new model of psilocybin therapy in which their proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support. Compass Pathways COMP360 has been awarded Breakthrough Therapy status by the US Food and Drug Administration (FDA), for treatment-resistant depression (TRD).

MindMed (MMED.NEO) is a biotechnology company focusing on helping patients overcome rather than survive, helping breakthrough symptom management that has become a common cycle for mental healthcare. MindMed offers a complete toolset, from breakthrough medicines and technology to compassionate therapy, while continuing to develop best-in-class mental health cares through elevated clinical testing, focusing heavily on next-gen research and development combined with comprehensive treatment programs. The team of veteran drug developers and mental health experts behind MindMed boast centuries of combined experience in production development and commercialization and have been pegged as one of several startups with the potential to reinvent the mental health landscape. Project Lucy, which involves administering a hallucinogenic dose of LSD through a registered therapist, is a commercial drug development program designed to treat patients with anxiety disorders.

Johnson & Johnson (NYSE: JNJ) has been around for decades, but just recently the family friendly company found itself entering the world of psychedelics. In 2019, The Janssen Pharmaceutical Companies of Johnson & Johnson introduced Spravato, a Ketamine based nasal spray that offers alternative methods for adults with treatment-resistant depression (TRD). The spray, when taken with an oral antidepressant, is also used to treat symptoms related to major depressive disorder (MDD) with acute suicidal ideation behavior. Spravato is the first and only approved medicine that has been shown to reduce depressive symptoms within 24 hours, offering a sincere nod towards the effectiveness of psychedelic medicines. By providing immediate results, Spravato gives patients the ability to drastically reduce symptoms at critical times of need until a longer term, comprehensive treatment plan can take over. Although more studies need to be conducted to prove its effectiveness across a broader audience, the initial findings appear to be promising and have the potential to drastically alter the lives of patients desperate for alternatives.

When considering the recent growth within the psychedelic industry, investors appear to be actively searching for the next billion-dollar company. While this task may be daunting, one public company appears to have a better chance than most when considering what is advancing in its pipeline. Given the success of Compass Pathways and MindMed based on a few select clinical trials, Bright Minds offers an impressive selection of several early and late pre-clinical trial studies, providing lower risk and higher upside to shareholder value.

Bright Minds (DRUG.CN) is one of the more recent pre-clinical bioscience companies to hit the public market, but what sets them apart is their impressive portfolio of compounds designed to precisely target abnormalities within the brain that lead to dysfunctional behavior. Bright Minds has been in operation for several years as a private company and boast what can be considered the greatest team of scientists known to the psychedelic bioscience industry today. The triumphs of the minds running Bright Minds are unrivaled, having extensive combined experience towards the design, creation, and distribution of similar compounds. Dr. Alan Kozikowski Ph.D is the Chief Scientific Officer and Director of Bright Minds and is world renowned for his work on psychoactive substances including novel analogs of PCP and cocaine which showed potential to decrease harm to users. He assisted in developing novel HDAC6 inhibitors for use in Fragile X syndrome, Charcot Marie Tooth disease and Rhett Therapy. Dr. Revati Shreeniwas MD is the Chief Medical Officer of Bright Minds has spent the last two decades as a physician researcher in the pharmaceutical industry and is passionate about bringing novel therapeutics to patients with an unmet clinical need. She has worked on several drugs that have gone on the be approved and are commercially successful. Dr. Gideon Shapiro Ph.D is the Vice President of Discovery at Bright Minds and is undoubtedly one of the leading commercial scientists creating novel psychedelics for the treatment of mental health disorders. His 30+ years spent professionally in the industry is decorated with achievements in drug discovery, development, and drug program management.

The goal at Bright Minds is to be first in line to develop a new era of psychedelic and non-psychedelic serotonin drugs that are safer and more effective, improving the lives of patients with severe and life altering brain diseases. By offering such a diverse pipeline of new chemical entities (NCEs) that are designed to treat pain, seizures, and neuropsychiatric disorders, Bright Minds holds the torch over its competitors and more importantly, provides hope amongst a generation of mentally unstable patients that are desperate for answers. Looking to the pipeline of compounds in the works at Bright Minds, the disorders that are being targeted for treatment are:

- Undisclosed Seizure Disorder

- Opioid Use Disorder

- Binge Eating Disorder

- Alzheimer’s

- Depression


- Undisclosed Chronic Pain Disorder

Current medicines in circulation that offer improvements to the wellbeing of patients that are faced with the above illnesses are worth billions, and with any amount of success towards even a single compound, Bright Minds could find themselves mingling with industry peers in the near future.

Having raised $25 million through a recent public offering, the company is fully funded to aggressively advance clinical trial studies for several compounds currently active in its pipeline. What’s interesting about Bright Minds is the chance of success appears much greater than any of its competitors due to the advancement of several compounds as oppose to focusing on a single drug. Creating the opportunity to advance more than one drug offers Bright Minds and its investors a higher probability of success, which in turn eliminates elevated risks that are associated with the majority of similar companies in the market. In addition, Bright Mind’s offers further reassurance based on the fact that they are not inventing new compounds, they are simply making advanced versions of existing drugs, which will ultimately decrease the amount of time and money required to advance drugs towards distribution.

The company has strategically positioned itself for commercial success, having been granted a worldwide “composition of matter” patent. The importance of this patent lies in the fact that Bright Minds can charge more for their products when compared to generic drugs provided from companies such as Compass Pathways. This patent commences until 2036, giving the company plenty of time to get its industry leading compounds to market. In addition, the distribution if its second-generation drugs will be the preferred choice of doctors due to elevated safety factors and reduced side effects. By offering a safer, more effective drug than other psychedelic companies combined with the ability to charge more for their product, Bright Minds appears to be one of the few companies within the sector that have a realistic potential to become a leader in psychedelic medicines rather quickly. With best-in-class drugs in the works and the funding needed to begin clinical studies, the patent war appears to be heating up, and the team at Bright Minds seems to be the first out of the gate.

FULL DISCLOSURE: Assume that Shroom Street author (Ryan Krikke) owns shares in the company featured and has a conflict of interest. The content of this article is for information only. Readers must fully understand and agree that the contents of this article are not a recommendation or solicitation to buy or sell any security. The author assumes no responsibility for the investment actions executed by the reader. Always do additional research and always consult a professional before purchasing any security. The contents of this article duplicates information from company websites for educational purposes.

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