For the nascent psychedelics sector, 2021 was the year when foundations were established for a future that may hold impressive payoffs. It remains to be seen if those payoffs will materialize in 2022,.
Compass Pathways, the UK-based mental health care company that's innovating new mental health treatments, recently announced that it had been granted .
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On Friday, Defiance ETFs launched the
Defiance Next Gen Altered Experience ETF ($PSY), the first psychedelic ETF to be listed in the U.S. $PSY will give investors exposure to companies involved in the development of the next generation of medicine, including psychedelics, cannabis, and other psychedelic-derived treatments.
Mental illnesses are on the rise, and existing medications have been found wanting. A staggering 30% of depression patients do not respond to any currently available treatment. Research budgets for psychiatric medicine in large companies have fallen by 70% in 10 years, as confidence wanes that more investment in the same direction will produce improved results.