The capital markets have seen a snowballing effect as innovations in mental health therapy materialize through psychedelic research and medicine.
The mental health crisis is nothing new. The World Health Organization (WHO) estimates that, globally, over 700 million people are affected by mental health disorders. The global pandemic is likely to increase those numbers as the shift to remote work further exposes how widespread the mental health epidemic really is. But there is positive news on the horizon with growing awareness from both the healthcare industry and consumers.
Psychedelics is one segment of the healthcare industry that is rapidly researching and developing transformative products that may have the potential to provide treatment to those suffering from mental illnesses, addiction, and other often overlooked and stigmatized conditions.
The
Horizons Psychedelic Stock Index ETF is now listed on Toronto’s NEO exchange under the symbol ‘PSYK’, and managed by
Horizons ETFs Management.
PSYK is a passive ETF, meaning that it’s not actively managed. The ETF follows the North American Psychedelics Index, an index owned and operated by Horizons and
Solactive AG, which aims to replicate the performance of North American publicly-listed life sciences companies that are involved in the psychedelics industry.
Horizons’ criteria for choosing members of the index requires companies to be listed on a stock exchange in Canada or in the U.S. and be engaged in research, production or distribution of psychedelic compounds and medicines. Companies must have a minimum market cap of CA$25 million ($19.6 million) to qualify, and remain above the CA$20 million mark.
Horizons ETFs will begin offering investors exposure to the rising psychedelics market with the launch of a brand-new fund.
Psychedelics investing is reaching its next milestone as the first exchange-traded fund (ETF) entirely dedicated to the growing space gets ready to debut.
The Horizons Psychedelic Stock Index ETF will begin trading on Wednesday (January 27) under the ticker symbol PSYK. The fund will offer exposure to a basket of psychedelics companies listed in North America.
PSYK was officially confirmed by Horizons ETFs Management (Canada) last Friday (January 22) after speculation had grown based on public documents filed by the fund manager.
Steve Hawkins, CEO of Horizons ETFs, said his firm started taking a closer look at the space about this time last year, but it wasn’t until recently that Horizons ETFs decided to pursue the creation of PSYK.
Wesana Health Closes $4 Million Convertible Note Round
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New additions to senior management and leadership teams
CHICAGO, Jan. 21, 2021 /PRNewswire/ Wesana Health, an emerging life sciences company committed to patient empowerment and the advancement of psilocybin-based medicine to improve health and wellness, has announced the close of a $4 million convertible note financing round. The company also announced new additions to its senior leadership team.
Wesana Health Raises Funds to Enter the Psychedelics Space
The $4 million round, led by The Conscious Fund and Ambria Capital, LLC, provides funding to support the Company s entry into the emerging psychedelics space. The proceeds will allow Wesana to begin preclinical and clinical work on the use of psychedelic-assisted therapy to treat traumatic brain injury (TBI) as well as regulatory applications including Investigational New Drug (IND) filings with the Food and Drug Administration (FDA),