Psychedelics Transition from Experimental Treatment to Major Pharmaceutical Industry

NEW YORK, Nov. 17, 2020 /PRNewswire/ -- Psychedelic medicine is emerging as a breakthrough for mental health. After decades of research, drugs like psilocybin and ketamine are finally ready to move from the lab into the pharmacy and the therapist's office. Several psychedelic treatments have already received approval from the US Food and Drug Administration (FDA), including Johnson & Johnson's ketamine-life depression drug, and more are likely to follow suit in the years to come. Now that the FDA has come to realize the potential benefits of psychedelic medicines, pioneering biotechnology companies have the opportunity to take the progress made by researchers and transition it into market-ready pharmaceutical products. Companies like Mydecine Innovations Group Inc. (OTC: MYCOF) (CSE: MYCO), Mind Medicine (MindMed) Inc. (NEO: MMED) (OTC: MMEDF), COMPASS Pathways plc (NASDAQ: CMPS), Numinus Wellness Inc. (TSXV: NUMI) (OTCPK: LKYSD), Champignon Brands Inc. (OTC: SHRMF) (CSE: SHRM). 

Mydecine Innovations Group Inc. (OTC: MYCOF) (CSE: MYCO) is an emerging biopharma and life sciences company that is committed to the research, development and acceptance of alternative nature-sourced medicine. Through its portfolio of companies and experienced leadership team, Mydecine Innovations is looking to provide the mental health industry with innovative solutions.

Since the start of the global pandemic, the healthcare system has taken a beating as frontline workers struggled to keep up with the rising cases while still providing care for those with other illnesses. The crisis has also led to an all-time high in anxiety and depression in the US, with 47.1 million Americans (19%) now living with a mental health condition, including front line workers, who are also at a higher risk of developing post-traumatic stress disorder (PTSD).

Mydecine Innovations Group Inc. is looking to tackle the problem from all angles through its clinical trials and digital mental health platform. On November 17, Mydecine announced the international expansion of its Phase 2A clinical trials of psilocybin-assisted psychotherapy to treat chronic PTSD in veterans and emergency medical services (EMS) personnel.

The trials, which will take place at prominent medical centers in Ontario, Alberta, the Netherlands, along with four other trial sites developing in the US and the UK, will be used to explore how the brain responds to psychedelics and develop a better understanding of the biological underpinnings of the experience. Mydecine Innovations plans to use the data from the studies to build on its data in the hopes of receiving FDA breakthrough designation.

The company also bolstered its leadership team with the appointment of its new Chief Medical Officer, Dr. Rakesh Jetly, a medical advocate for the use of psychedelic-assisted psychotherapy and a prominent voice in the fight against PTSD and other mental health issues.

Apart from its efforts to cultivate and develop psychedelic therapies to combat mental illness, Mydecine Innovations has launched a mental health-focused telehealth digital platform to assist therapy patients with psychedelic aftercare, track moods, and combat addiction. Mindleap, which is available on iOS and Android, is an AI-powered first-to-market digital health platform designed by clinical psychologists and neuroscientists that combines telehealth with mood, emotion, and habit tracking.

The Mindleap Health app allows Mydecine to increase access to much-needed mental health services, while at the same time gaining a piece of the growing telehealth industry, which is projected to become a $560 billion market by 2027.

Mydecine Innovations is preparing to start its Phase 2a clinical trials of psilocybin-assisted psychotherapy to treat chronic PTSD in veterans and EMS personnel. The trials will be conducted at Leiden University Medical Centre in the Netherlands, the University of Western Ontario, and the University of Alberta, but the company is also exploring additional trial sites across North America including Los Angeles, New York, Boston and Ottawa.

For more information on Mydecine Innovations Group Inc, please visit this link.

Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF) announced earlier this month that the company completed the Phase 1 LSD study in partnership with University Hospital Basel's Liechti Lab in Switzerland. MindMed is now preparing for Phase 2b of Project Lucy, which intends to evaluate the efficacy of LSD-assisted therapy for anxiety disorders and other medical conditions. The Phase 1 study used a double-blind, randomized, placebo-controlled, crossover design in 16 healthy participants to measure LSD dose-dependently induced subjective responses starting at microdoses (25 ug) up to experiential doses (200 ug). Apart from preparing for Phase 2b, MindMed and University Hospital Basel are also actively filing patent applications on clinical trial data generated through its clinical trials and R&D.

COMPASS Pathways plc (NASDAQ: CMPS) was given breakthrough therapy designation from the FDA for its psilocybin therapy for treatment-resistant depression. Earlier this year the company announced that it has been granted US Patent No 10,519,175, relating to methods of treating drug-resistant depression with a psilocybin formulation, by the US Patent and Trademark Office. The patent covers the use of COMPASS's synthesised investigational psilocybin formulation, COMP360, in a psilocybin therapy protocol for patients with treatment-resistant depression. Psilocybin is an active ingredient in so-called 'magic mushrooms'.

Numinus Wellness Inc. (TSXV: NUMI) (OTCPK: LKYSD) became the first publicly-traded company in Canada to be granted a license by Health Canada to conduct research to standardize the extraction of psilocybin from mushrooms. Back in June the Company announced that it has received Health Canada approval to amend the Company's existing License under the Controlled Drug and Substances Act to allow Numinus researchers to conduct research to standardize the extraction of psilocybin from mushrooms. The amendment means Numinus is the first publicly traded company in Canada to be granted a license by Health Canada to conduct research of this kind.

Champignon Brands Inc. (OTCQB: SHRMF) (CSE: SHRM) announced earlier this year that it  continues to augment its Special Advisory Committee with the addition of key individuals experienced in highly regulated industries primed for rapid growth. To this accord, the Company is pleased to announce the appointment of Mr. Jay Kheita, ACPR, to its Special Advisory Committee, where he will help lead the integration of Champignon's novel and natural treatment protocols into its existing consumer packaged goods portfolio. Champignon's Special Advisory Committee continues to evaluate the potential positive effects of its novel and natural treatment protocols and ongoing pre-clinical trials on individuals suffering from indications such as depression, post traumatic stress disorder (PTSD), traumatic brain injuries (TBI), obsessive compulsive disorder (OCD), as well as substance and alcohol use disorders.

Subscribe Now! Watch us report LIVE

Follow us on Twitter for real time Financial News Updates:

Follow and talk to us on Instagram:

Facebook Like Us to receive live feeds:

About, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, creates 100% unique original content. also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content),, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. receives fees for producing and presenting high quality and sophisticated content on along with other financial news PR media services. does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For mydecine innovations group inc. video production, filming editing, news reporting, financial and corporate news dissemination, expects to be compensated five thousand dollars by market jar media inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. will always disclose any compensation in securities or cash payments for financial news PR advertising. does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security., members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: .

Media Contact:


Cision View original content:


Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.