Psychedelic may find legitimate place in pharmaceutical industry when pandemic is sacrificed

The coronavirus pandemic has tested many psychological states. Social distance, isolation, and general fear of the virus are causing havoc, even for those with the strongest mindset. Those who suffered from mental illness before the Covid-19 crisis are in a more severe position.

One promising treatment for depression can be psychedelic, including in the form of the controversial hallucinogen LSD, even if traditional medicines do not work.

And the demand for such remedies seems to be quite large. According to the World Health Organization, about 350 million people worldwide were affected by depression in 2016. In the United States, the use of antidepressants over the age of 12 increased from 2011 to 12.7% in 2014. report.

This has created a large market for pharmaceuticals. According to MedGadget, the antidepressant market is valued at $ 13.69 billion in 2018 and is expected to reach $ 15,888 million by 2025. According to the CDC, antidepressants were the most commonly prescribed drug in 2013, with about 70% of long-term users of over 16 million women.

Can MindMed heal my mind?

June 2019, nervous system pharmaceutical company Mind Medicine Inc. ( MMEDF) Or as known, MindMed has confirmed a $ 6.8 million acquisition of the “18-MC” drug development program, an anti-dependent molecule previously funded by the Institute for Drug Abuse. MindMed has acquired a project from a company called Savant HWP Inc.

The company has also entered into a multi-year agreement for exclusive cooperation with Dr. Matthias Liechti, a psychedelic pharmacology and clinical research expert at Basel University Hospital in Switzerland. Dr. Liechti is considered an expert in LSD also technically known as Lysergic acid diethylamide. Through this agreement, MindMed will acquire worldwide exclusivity for data, compounds and patents related to Liechti’s lab research on LSD and other psychedelic compounds.

MindMed stated that they are particularly interested in the data and results of an ongoing placebo-controlled phase 2 trial of high-dose LSD for the treatment of anxiety. The company said it is considering creating a drug development program that uses hallucinogenic doses of LSD to treat anxiety disorders. The company currently uses ketamine as a drug to treat patients in clinics.

The potential ‘magic’ of champignons

Champignon Brands Inc. (SHRMF-Focusing on psilocybin and other compounds in some types of mushrooms-has been developed to treat conditions such as depression and post-traumatic stress disorder, as well as conditions such as drug and alcohol abuse disorders. We are also pursuing commercialization. Late last week, the company announced that it had acquired Tassili Life Sciences and had an all-equity transaction worth approximately $ 5.2 million.

The acquisition expands Champignon’s preclinical testing pipeline and the broader intellectual property associated with the development of new psychedelics targeting psychological disorders.

Tassili is working with physicians at the University of Miami to develop effective psilocybin-based therapies for the treatment of mild traumatic brain injury and post-traumatic stress disorder. Its focus is the unique combination of psilocybin and CBD.

In addition to the Tassili acquisition, Champignon announced in March that it will acquire Novo Formulations. The company is working on ketamine treatment with a deal worth about $ 2.1 million. Champignon plans to leverage Novo Formulas’ existing product development infrastructure and authorized affiliates to develop psilocybin and MDMA-based drugs, and to develop and commercialize treatments for depression and PTSD I said.

Although the business and development of these companies is in its infancy, the demand for services can increase as a result of the pandemic. It’s a time of trial for everyone, and if people need mental health help and these companies are there to provide that help without stigma, they can benefit with their customers .