Publication date: Feb 12, 2020
(Bloomberg) — The first companies developing medical treatments from psychedelic drugs like LSD, ketamine and the active ingredient in magic mushrooms are gearing up to list on Canadian stock exchanges.
Mind Medicine Inc. , which is undertaking clinical trials of psychedelic-based drugs, intends to list on Toronto’s NEO Exchange by the first week of March, said JR Rahn, the company’s co-founder and co-chief executive officer.
For those who are still getting used to legal marijuana, the idea of publicly traded companies working with psychedelic drugs like MDMA and psilocybin, which is derived from magic mushrooms, may sound a bit out there.
Yet a growing number of companies are conducting clinical trials of psychedelic treatments for everything from depression to post-traumatic stress disorder, and some have recently received the blessing of the U. S. Food and Drug Administration.
The Canadian Securities Exchange, which has become the go-to bourse for U. S. cannabis companies that can’t list in their home country, is also expecting listings from psychedelic drug companies in 2020.
Last week, Field Trip closed a Series A financing round that raised $8. 5 million from a variety of investors including cannabis-focused asset manager Silver Spike Capital and Harris Fricker, the former CEO of GMP Capital Inc. , which helped a number of marijuana companies go public.
|drug||DRUGBANK||Lysergic acid diethylamide|
|disease||MESH||post-traumatic stress disorder|