Psychedelics could be one of the most “far out” investments of the decade.
In fact, as reported by CFN Media Group, “The global behavioral health market, where psychedelics have shown tremendous potential, could hit $240 billion by 2026, according to Acumen Research and Consulting, which represents a blistering 16.3% compound annual growth rate over the forecast period.”
The industry has so much potential that, “"Within the next six to 12 months, we will see an arms race in the psychedelic space as companies try to innovate and get their drugs to trials and to the market," says Jason Spatafora, co-founder of marijuanastocks.com. "These psychedelic companies can cut into the multibillion-dollar industry that is completely dominated by pharmaceutical companies,” as reported by U.S. News & World Report.
So far, advancements with psychedelics is creating substantial opportunity for companies such as Mind Medicine (OTC:MMEDF)(NEO:MMED), Johnson & Johnson (NYSE:JNJ), Mydecine Innovations (CSE:MYCO)(OTC:MYCOF), and Cybin Inc. (NEO:CYBN)(OTC:CLXPF).
Numinus Wellness (TSXV:NUMI)(OTC:LKYSF) is Also Advancing its Psychedelics Research
Numinus Wellness, a global leader in supporting and expanding the safe, accessible and evidence-based use of psychedelic-assisted psychotherapies (PAP), has received new amendments under Canada’s Controlled Drugs and Substances Act that enhance the Company’s ability to lead psychedelics research and support the global psychedelics sector.
Numinus Bioscience, which operates a state-of-the-art research lab in British Columbia, Canada, recently received amendments to its federal licence to allow the possession, production, assembly, sale, export, and delivery for a wide variety of psychedelics including – for the first time – Ketamine and Lysergic acid diethylamide (LSD). The amendment also supports Numinus Bioscience’s role in these activities related to Mescaline, N,N-Dimethyltryptamine (DMT), N-Methyl-3,4, methylenedioxyamphetamine (MDMA), Psilocin and Psilocybin.
“These amendments are not just exciting for Numinus and our researchers, but also for our partners, clients and potentially academic collaborators in the psychedelics space,” said Sharan Sidhu, Science Officer and General Manager for Numinus Bioscience. “The amendments dramatically expand the work we can do with a far larger group of psychedelics, and open up market-leading and revenue-generating opportunities for Numinus in R&D, psychedelic formulations, research and analysis. Moreover, we can now develop and implement standardized psychedelics testing on top of our existing high throughput capabilities, and formulate and produce psychedelic compounds in finished packaged products for clinical trials, clinical use under exemption, and export.”
Among other valued-added services, the amendments enable Numinus Bioscience to pursue formulation and stability studies to assemble finished products for all approved psychedelics.
Previously, Numinus Bioscience conducted R&D and analytical testing on Psilocybe mushrooms. New amendments allow Numinus Bioscience to conduct all activities related to possession, production, sale, export, delivery and assembly for Psilocybe mushroom fruiting bodies, both whole ground and extracted, to stakeholders that possess a Section 56 exemption.
In addition, the new amendments allow Numinus Bioscience to increase the amount of Psilocin and Psilocybin produced at the lab from 505 grams to 1000 grams annually, consisting of 750 grams of Psilocybin and 250 grams of Psilocin. Health Canada has also acknowledged that the Company can continue to supply verified and validated Psilocybe mushroom spores and tissue culture that do not contain controlled substances to other licensed dealers and can be listed as a supplier. In coming quarters, Numinus Bioscience will prepare to offer the expanded suite of psychedelic products and services allowed by recent amendments.
“The approvals announced today mark a key milestone in advancing the integrated services model we are building to research and ultimately deliver quality therapies to people who may benefit, across the spectrum of mental health disorders,” said Payton Nyquvest, CEO, Numinus. “We know that currently available treatments for mental health disorders are often ineffective and can lead to major unwanted side effects. To date, clinical trials for professionally supervised psychedelic-assisted psychotherapies have shown safety and efficacy, with fewer and less severe side effects than conventional medicines.”
As the first public entity to legally cultivate and extract Psilocybe mushrooms under its dealers’ license, Numinus Bioscience is already a research leader in the psychedelics industry. The BC lab is licensed by Health Canada.
Note
The safety and efficacy of psychedelic-assisted psychotherapy is currently under investigation. It has not yet been approved by Health Canada or the U.S. FDA, does not work for everyone, and carries risks even in therapeutic settings. These statements are no guarantee of future Health Canada or FDA approval or availability of psychedelic-assisted psychotherapy. These statements necessarily involve known and unknown risks and uncertainties, which may cause actual outcomes to differ materially from projections.
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. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Numinus Wellness Inc. by a third party. We own ZERO shares of Numinus Wellness Inc. Please click here for full disclaimer.
Contact Information:
2818047972
[email protected]
