It’s becoming quite likely that the psychedelics sector will mirror the cannabis sector.
First, we saw the drop in valuation, and now we’re seeing a rise in acquisitions as companies consolidate into a few big players.
Follow along to see which companies make it out on top!
Here’s what’s in store for you in today’s issue:
🍄 Brain imaging study reveals how psilocybin eases depression
🍄 30% less opioid use
🍄 Numinus acquires Novamind
🍄 And more
In this episode of the Daily Mushroom podcast, we have Dr. Pam Kryskow, a psychedelic researcher, medical doctor, and the medical lead for ketamine-assisted therapy for the Roots to Thrive program. Pam shares the benefits of psychedelic therapy in group settings and how her hiking “trips” helped her cope with daily trauma experienced in her previous job as a firefighter.
“For the first time we find that psilocybin works differently from conventional antidepressants — making the brain more flexible and fluid, and less entrenched in the negative thinking patterns associated with depression,” says Imperial College London researcher David Nutt.
A new brain imaging study found that psilocybin increases brain network integration, whereas a common antidepressant, escitalopram, had no impact on brain network organization.
fMRI scans showed that psilocybin reduces activity in the default mode network (DMN), a region associated with introspection that’s often overactive in patients with depression, causing negative fixations about one’s self and the future.
The DMN became more connected with other regions like the salience network and the executive network, which are often impaired in patients with depression (as well as autism and OCD).
Essentially, this helps “open up” the brain, breaking rigid and restrictive patterns.
These findings may explain why psilocybin outperformed escitalopram in treating depression.
Numinus Wellness (NUMI) is acquiring Novamind (NM) for C$26.2M or $0.44 per share, a 51% premium on Novamind’s 20-day average. The combined company will run 13 wellness clinics and 4 psychedelic research sites focused on depression, anxiety, PTSD, and addiction.
Cybin (CYBN) found that its formulation of inhalable DMT has 41% improved bioavailability compared with regular inhaled DMT and lasts 3x longer than IV DMT, extending the therapeutic window.
Delic Corp. (DELC) received a Section 56 Exemption to research MDMA, LSD, DMT, mescaline and 2C-B and acquire 60 grams of psilocybin mushrooms from from Nectar Health Sciencess.
Red Light Holland (TRIP) is purchasing 100 acres of farmland for $1.85M to expand its mushroom cultivation operations. 65,000 square feet of production facilities will be built this summer.
NeonMind (NEON) announced a plan to open 10 clinics over 3 years with “very little upfront costs” by leveraging SRx Health Solutions’ and BioScript’s network of clinics.
Both the Senate and the House of Delegates approved a Maryland bill that would provide veterans with free psilocybin, MDMA, and ketamine treatments for PTSD or traumatic brain injury.
If approved by the governor, the state would devote $1M per year to funding the treatments.
The bill, which was unanimously passed by the House, would allow institutions to research psilocybin for 10 different conditions. Decriminalization elements were removed from the legislation.