Move Over, Pot: Psychedelic Companies Are About to Go Public

Move Over, Pot: Psychedelic Companies Are About to Go Public

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.

Concepts Keywords
Active Ingredient Entheogens
Asset Manager Psychedelic drug
Bloomberg Lysergic acid diethylamide
Breakthrough Therapy Hallucinogen
Canada Psilocybin
Canadian Novartis
Cannabis Articles
CEO Drug control law
Chief Communications Officer Health
Chief Executive Officer Hallucinations
Clinical Depression Psychoactive drugs
Clinical Trial Neuro pharmaceutical
Clinical Trials Psychotherapy
Depression
FDA
GMP
Growth Capital
Hallucinogenic
Ibogaine
Illegal Drugs
Jamaica
Ketamine
London
Los Angeles
LSD
Magic Mushrooms
Marijuana
MDMA
MMED
Opioid Addiction
Pharmaceutical Companies
Psilocybin
Psychedelic
Psychedelic Drug
Psychedelic Drugs
Psychedelics
Psychotherapy
Reverse Takeover
Shark Tank
Silicon Valley
Spike
Star
Toronto
Torontos
West Indies

Semantics

Type Source Name
drug DRUGBANK Lysergic acid diethylamide
drug DRUGBANK Ketamine
disease MESH Growth
drug DRUGBANK Haloperidol
drug DRUGBANK Medical Cannabis
drug DRUGBANK Midomafetamine
drug DRUGBANK Psilocybine
disease MESH depression
disease MESH post-traumatic stress disorder
disease MESH opioid addiction
drug DRUGBANK Silver
drug DRUGBANK Silicon
drug DRUGBANK Coenzyme M

Original Article

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