Here’s what’s in store for you in today’s issue:
🍄 How psilocybin is being tested to treat cocaine addiction
🍄 TRYP aiming to use psychedelics in eating disorder treatment
🍄 How shrooms increases life satisfaction
🍄 Shark Tank’s Kevin O’Leary’s investment tips
🍄 And more.
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“Suddenly your horizons are broadened, and broadened tremendously, and you’re thinking about something other than obtaining or using that drug (or worrying about your pain).”
Dr. Peter Hendricks, a researcher at the University of Alabama in Birmingham, found that patients given psilocybin saw significant and lasting reductions in cocaine use compared to patients given a placebo. He plans to continue studying psilocybin’s effect on addiction, as well as on chronic pain conditions like fibromyalgia. Hendricks explains that psilocybin disrupts repetitive thought patterns in the default mode network of the brain, the structures that engage in unfocused activities.
Tryp Therapeutics Inc. (TRYP) is conducting a phase 2 clinical trial that will investigate psilocybin’s effect on hypothalamic obesity conditions. Principal Investigator Dr. Jennifer Miller is confident that psilocybin therapy will reduce appetite drive, food-related anxiety, compulsive eating, and impulsive eating by rewiring neural pathways to alleviate the underlying psychiatric issues. She is hopeful that psilocybin could treat millions of patients with a wide range of previously untreatable, chronic conditions.
Looking for the most spiritual experience of your life?
In a Johns Hopkins study, 36 volunteers who had never taken hallucinogens were given high doses of psilocybin. They were told to “focus explicitly on the phenomenology of the drug experience rather than perform tasks”. 14 months after the trip, 67% of participants rated it as one of the top five most spiritually significant experiences of their lives, and six people said it was the single most spiritually significant experience. 64% said the experience increased their well-being and life satisfaction.
This Fall, Heroic Hearts Project will begin psychedelic therapy retreats in the Netherlands and Jamaica to study the effect of psilocybin on veterans with traumatic brain injury (TBI). Many veterans sustain brain injuries during their service, which can lead to anxiety, depression, and substance abuse. The retreats aim to study both the psychological and physiological impacts of psilocybin therapy.
Another rich dude pumps his stock?
At a CNBC healthcare summit, Shark Tank venture capitalist Kevin O’Leary said that “the potential of psychedelics far exceeds the potential of cannabis”. O’Leary believes that the size and scale of the psychedelics market is appealing because of the lack of advancements in mental health treatment over the past several decades. O’Leary currently invests in MindMed and Compass Pathways, and advises investors to hold stakes in companies with multiple clinical trials.
Roth Capital Partners, a private investment bank in California, gave Mydecine Innovations Group Inc. (MYCO) a ‘buy’ rating with a C$3 target based on the “blockbuster potential” of its pyschedelic compound, MYCO-001. Mydecine expects to complete advanced clinical trials for PTSD and smoking cessation within the next 18-24 months. Based on this timeline, Roth believes that MYCO-001 could be introduced to the US market for smoking cessation in 2026, and could reach $2.5 billion in sales by 2031 by capturing just 0.5% market. Roth predicts that MYCO-001 will take over 20% of the market for PTSD treatment by 2032, reaching $3 billion in sales.
Revive Therapeutics Ltd. will partner with the University of Health Sciences Antigua (UHSA) to open a psychedelic treatment center in the Caribbean. The center will treat substance abuse disorders and other mental health conditions using Revive’s psilocybin oral thin film patch. As part of the agreement, UHSA will establish a Master’s in Psychedelic Medicine program for students wanting to learn more about the field.
After beating cancer, Mona Strelaeff suffered from crippling depression and anxiety rooted in childhood trauma and a fear of death. She tried several anti-depressants with extreme side effects before receiving approval for psilocybin-assisted therapy. The experience allowed her to come to terms with childhood demons. “When [the doctor] gave me the treatment and I came out of it in a place of peace,” she said. “My anxiety was basically gone. And to this day I still feel at peace. I’m not afraid of death.”