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Mydecine discovered more than 40 new compounds with medical potential in various mushroom species

Mydecine Discovers Over 40 Groundbreaking Potential Pharmacologically Active Novel Compounds in Mushrooms

Mydecine Innovations Group discovered over 40 new compounds with medical potential when screening 25 mushroom species. Mydecine’s senior scientist, Duff Sloley, said that chemical components in many species, especially the poisonous ones, have not been researched. Sloley explained that the compounds are very complex because they’ve evolved to protect the mushrooms from predators. “Since these compounds are evolved to affect biological systems and aspects of metabolic pathways, they stand a higher chance of proving to be useful pharmaceuticals”.

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Field Trip Health Ltd. declares that it is a “world class company” by applying to list on the NASDAQ

Field Trip Health Ltd. Applies to List Its Common Shares on the NASDAQ Stock Market

After a successful listing on the TSX, Field Trip Health Ltd. applied to list on the NASDAQ Stock Exchange, which would allow US investors to support their growth. Field Trip executives state that this move declares to the public that they are a world class company, and that they are “positioned to be the global leader in the psychedelics industry”. Field Trip expects to commence with Phase 1 human trials of their proprietary psychedelic molecule by the end of 2021, and will have 20 health centers operating or under construction across the US, Canada, and Europe.

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Cybin aims to treat COVID-related distress in frontline healthcare workers using new psychotherapy model

Cybin Launches EMBARK and Co-Sponsors First Clinical Trial to Treat Frontline Clinicians Experiencing COVID-Related Burnout and Distress with Psychedelic-Assisted Psychotherapy

A new University of Washington study co-sponsored by Cybin aims to treat COVID-related depression, anxiety, burnout and post-traumatic stress in frontline healthcare workers using psychedelic-assisted psychotherapy. The study will test Cybin’s new transdiagnostic psychotherapy model called EMBARK, which is “aimed at delivering best-practice, supportive healing in conjunction with psychedelic therapeutics”. Cybin CEO Doug Drysdale says he considers it an honour to support the frontline workers who made great sacrifices for the public throughout the pandemic.

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Psychedelic “smart shops” to open in Jamaica

Psychedelic Mushroom Shops Reach The Americas

Many psychedelic companies are being drawn to Jamaica, one of the only countries where it’s legal to cultivate, extract, and sell psilocybin mushrooms. Silo Wellness is partnering with Mushe Inc. to open the first “smart shop” in the Western hemisphere, a psychedelic mushroom retail outlet that will sell functional and psychedelic mushrooms in various forms to locals and tourists.

Psyence Group formally began operations in Jamaica under its wholly owned subsidiary, Psyence Jamaica Ltd., which will focus on psilocybin treatment for patients in palliative care. To take on the new market, Psyence Jamaica is in collaboration with LONACAS Inc., a Jamaican clinical research company, and MycoMeditations, a “psilocybin wellness destination experience” in Treasure Beach, Jamaica.

Wake Network Inc. received clearance to conduct a “first-of-its-kind” clinical trial at a Jamaican university, which will study the effect of microdosing on depression and anxiety.

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53% of US voters under 30 believe that psychedelic drugs have medical uses

Over a third of US voters say magic mushrooms and other psychedelics have a medical use, new poll shows

According to a recent poll, 35% of American adults believe that psychedelics like magic mushrooms have medical applications, including 43% of Democrats and 23% of Republicans. While voters over 30 years old tended to disagree, 53% of voters aged 18-29 believe that psychedelics have medical value.

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Cybin’s psychedelic drug formualtion will target Alcohol Use Disorder

Cybin Selects Alcohol Use Disorder Indication for Psychedelic Molecule CYB003

Cybin announced that its proprietary new chemical entity (NCE), CYB003, will target Alcohol Use Disorder in response to increased alcohol use during the pandemic. CEO Doug Drysdale is optimistic that CYB003 will provide “a durable respite from alcohol dependence and the potential to overcome this often-crippling disease”.

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The psychedelic drugs market is expected to reach $10.75 billion USD by 2027, growing at a 12.36% CAGR

Psychedelic Drugs Market Size Is Projected To Reach $10.75 Billion By 2027

A recent report from Research And Markets predicts that the psychedelic drugs market will grow at a 12.36% compound annual growth rate from 2021 to 2027, reaching $10.75 billion USD by 2027. The rapid acceptance of the medical applications of psychedelics in the mental health sector fuels the growth of the market.

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Entheon’s psychedelics genetic test kit developed now available in Canada

Entheon Biomedical Corp. Launches HaluGen’s Psychedelics Genetic Test

Entheon Biomedical Corp. launched the first psychedelics genetic test kit through its subsidiary, HaluGen Life Sciences Inc. The kit includes a pre-screening mental health survey and cheek swab DNA test that will provide “genetic, personal and familial insights” to “better understand an individual’s sensitivity to classical psychedelics and ketamine”. The cheek swab tests for the HTR2A gene mutation,  a variant present in 20% of people that makes them more susceptible to strong hallucinations due to increased serotonin receptor density. Customers receive a personalized profile with sensitivity and risk reports to inform them before their next psychedelic experience.

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