Alexander Volkov/Getty Images This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
The psychedelics industry has ramped up over the past year as institutional investors entered and several companies have gone public.
Insider identified the top 14 startups that are working to turn psychedelics into approved medicines for conditions like depression, opioid use disorder, and anxiety.
To put together this article, we reached out to companies on our list from last year, used data provided by PitchBook, and talked to VCs in the space.
2020 was a booming year for the psychedelics industry.
Money swept through the private side of the space as big names like Atai Life Sciences closed record-breaking rounds of funding and more companies entered, hoping to take part in what could become a $100 billion market, according to a May 2020 report from Canaccord Genuity.
Accredited Investor email list Some investment opportunities are limited to accredited investors. Whether you are an accredited investor or not depends on where you live and other criteria. For full details go to https://investingnews.com/accredited-investor-definition/ or search for accredited investor in the search bar above.
By completing this form, you are giving consent to receive communication from MagicMed Industries using the contact information you provide. And remember you can unsubscribe at any time.
MagicMed Industries’ Management Team
Dr. Joseph Tucker CEO
Dr. Joseph Tucker is a seasoned executive who has built several publicly traded biotechnology companies. He was a founder and CEO of Stem Cell Therapeutics, which he took public on the TSX. Trillium Therapeutics acquired Stem Cell Therapeutics in 2013. Dr. Tucker has also held the position of Co-Founder and CEO of Epimeron Inc., a University of Calgary start-up acquired in the creation of Willow Bioscie
A resurgence of interest in psychedelics has come to the forefront as researchers look to create alternative treatment solutions for a growing patient base.
In the last few years alone, classic psychedelics have shown the potential to provide an improved, alternative treatment solution to a vast array of mental health indications from treatment-resistant depression and anxiety to PTSD. Building on these promising results, these compounds need to be modified to generate fewer side effects, better efficacy and out-of-clinic applicability.
Is it possible to utilize psychedelics to develop drugs that are more accessible to the mainstream patient base? MagicMed Industries certainly thinks so. The Canadian company has made its mission to support and enable the commercialization of psychedelic-derived pharmaceuticals for brain and mental health.
Thanks to
biotech-focused drug development, the emerging psychedelic industry is stronger than ever before. However, there is a hidden hero in the details of the
numerous press releases pertaining to psychedelic medicine progress – the investment banks allowing this space to grow. Indeed, the sheer scale of psychedelic medicine’s agenda requires a lot of funding, and much of this funding is thanks to investment banks who enter agreements with psychedelic medicine companies. Though there is an obvious mutually beneficial opportunity for both sides of
psychedelic investment, the banks are still taking on a relative area of risk. But by doing so, they are simultaneously making it less risky, more financially stable, and of course, more lucrative for investors.
How Will Psychedelics Become Medicine? A Scientific Review Of The Drug Development Pathway benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.