$40m psychedelic medicine institute launches in Melbourne

Researchers from leading universities around the globe are joining forces to make psychedelic medicine a reality.

This Friday, a $40 million psychedelic research institute called The Psychae Institute will launch in Melbourne, Australia. The institute will study psilocybin, MDMA, and DMT to develop pharmaceutical-grade psychedelic medicines, and will oversee clinical studies in the UK, Canada, Europe, and Brazil. A co-director of the institute explains that Australia is the ideal location because clinical trials do not need sign-off from an ethics committee, unlike many countries.