5 Ways to Participate in the Psychedelics Boom
Ryan Allway
March 27th, 2020
App, Exclusive, News, Policy, Top News
The psychedelics industry is quickly becoming the next frontier market for investors as the cannabis industry matures. Through a combination of cutting-edge research and decriminalization, investors are hoping that the industry moves in the same direction as medical cannabis over the coming years.
Let’s take a look at five public companies in the space and how they plan on capitalizing on these trends.
Ehave Inc. (OTC: EHVVF) is developing software-based solutions for the digital management, assessment and remediation of mental health disorders. In February, the company formed a subsidiary to focus on psychedelics and moved to acquire PsychedeliTech — a producer of the Psych conference worldwide where scientists, business leaders and investors meet to collaborate on the advancement of psychedelics.
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Mind Medicine Inc. (NEO: MMED) became the first publicly-traded psychedelics pharmaceutical pure-play earlier this year. With an experienced management team, the company’s near-term goal is to develop a non-hallucinogenic version of the psychedelic ibogaine, which could help curb addiction. The company also plans to conduct a Phase 2 LSD microdosing clinical trial for adult ADHD later the year.
Champignon Brands Inc. (CSE: SHRM) (OTC: SHRMF) is developing artisanal medicinal mushroom-infused products. In March, the company acquired intellectual property relating to the delivery of ketamine, anesthetics and adaptogenics. The company plans to integrate its existing medicinal mushroom extracts into these proprietary delivery systems over the coming quarters. Roadman Investments Corp. (TSXV: LITT) is also an early investor.
Revive Therapeutics Ltd. (CSE: RVV) is a cannabinoid-focused company that entered the psychedelics space in February with a letter of intent to acquire Psilocin Pharma Corp., which is developing production solutions for psilocybin. The company plans to initially sell products in countries like Brazil where psilocybin formulations are legally approved. The goal is to eventually create FDA-approved products across many conditions.
Wuhan General Group Inc. (OTC: WUHN) is actively exploring opportunities in the psychedelic medicine space. Its M2BIO division aims to create new therapies for patients suffering from mental illnesses, including psilocybin-based therapies. It also acquired a 49% stake in Biodelta Neutraceutcials.
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About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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