Psychedelics News October 2019

Investors hope psychedelics are the new cannabis. Are they high?

Source: The Economist | By: staff | Published: 19 Oct 2019

“In January ATAI Life Sciences, the German biotech company [Messrs Angermayer] founded last year, acquired a majority stake in Perception Neuroscience, a biopharmaceutical firm from New York which is developing a medication for psychiatric conditions like depression from the drug, which is illegal in parts of the world (though not in America). Along with Peter Thiel, a veteran Silicon Valley investor known for headline-grabbing bets, ATAI has also backed COMPASS Pathways, a startup in London aiming to be the first legal provider of psilocybin, which gives mushrooms their magic.”

“Ekaterina Malievskaia, [COMPASS’] co-founder, hopes that the therapy could go on sale within five years “if everything works out”, including the science. Patients would receive carefully controlled doses in one-off, therapist-run sessions. These may last all day and cost $1,000 a pop.”

It’s interesting to note what commercial developments are ongoing and to see what about this pans out. One big aspect would be the outcomes of the trials they are running and the possibility of side-effects and other negative health consequences that may hold back a wide release of psychedelics for the treatment of depression.