Psychedelics Archives - Page 2 of 2 - Green Market Report

Anne-Marie FischerAnne-Marie FischerMarch 4, 2020
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7min11450

Driven by the leadership of our CEO and founder, Debra Borchardt, Green Market Report is pleased to release the industry’s first psychedelic industry trend report, Trends in Psychedelic Investing, which takes a deep-dive into the emerging movement and the investments and companies to watch behind it.

Our publication had been slowly inching into the emerging psychedelics movement over the last year, profiling various companies such as Orthogonal Thinker and Field Trip Ventures while examining some of the emerging research and perspectives in psychedelics. At the same time, we began creating spaces and occasions for people of the movement to come together to talk about the business of psychedelics, which includes companies that promote and work within the potential of “novel molecules” found in psilocybin (psilocin), DMT, ketamine, MDMA and other substances that are classified as “psychedelic”. 

This past January, Green Market Report hosted the first-ever Psychedelics Summit on the emerging market in New York City. This sold-out event demonstrated the eagerness to grow the psychedelics industry, inspiring the 9-page, 3,500-word Trends in Psychedelic Investing report, which can be downloaded at greenmarketreport.com/reports.

Green Market Report has been the cannabis industry’s central news source on the business and money of cannabis since 2017; our community of reporters covers the global cannabis business, and important initiatives and movements as they unfold. 

As the psychedelics industry and the changing legislation towards certain compounds such as psilocybin develops, we’re observing that many psychedelics pioneers are growing from, or taking their learning from the cannabis industry, making it a natural avenue for our publication. Alongside this, there is growing evidence that psilocybin and other psychedelic compounds will be decriminalized or legalized as more evidence supports the potential benefits of psychedelic-assisted therapies. 

“We have heard from our readers at Green Market Report that there is a great deal of interest in this emerging field of psychedelics and the companies that are leading the way,” said founder Borchardt, “We’re also seeing that some cannabis investors are adding psychedelic investments to their portfolios. As we tried to research this industry, we found that information was lacking, and that is what prompted us to hold our Summit and write this report.”

Trends in Psychedelic Investing takes readers behind the 1960s psychedelics movement led by Timothy Leary and Richard Alpert (later known as Ram Dass) with the advent of the controversial Harvard Psilocybin Project. The report brings us through the journey of the legal status of psychedelics through the decades, with the recent resurgence of the movement gaining steam in the early 2000s. Groups like MAPS (Multidisciplinary Association for Psychedelic Studies) began sponsoring studies that look at the efficacy of psilocybin for Obsessive-Compulsive Disorder. 

The report importantly points out that unlike cannabis, the recreational psychedelics market is relatively small in comparison to the discovered medical and psychological potentials of these compounds. 

The report references several companies within the psychedelics space that are ones to watch as they engage in multi-million capital raises and advance psychedelics research. These companies include Mind Medicine Inc, which anticipates being the first publicly-traded psychedelics pharmaceuticals company; Atai Life Sciences, which is examining psychedelics alongside rapid-acting antidepressant (RAAD) drugs; Eleusis Ltd, which is researching serotonin agonists; Field Trip, which is starting with ketamine therapies; Green Sky Strategies LLC, which is looking at therapeutic adaptogens along with the potentials of microdosing; and Back of the Yards Algae, concerned with developing a safe, sustainable supply of psilocybin that demonstrates good laboratory practice.

Trends in Psychedelic Investing concludes with an important acknowledgment from Green Market Report: unlike the “green rush” that prompted many to pursue cannabis to get rich quick, the investors who are in psychedelics are in it to stay. While we have been excited to see the cannabis movement push forward as the value of cannabinoids is realized, we have every reason to believe that with psychedelics, we are on the brink of a medical revolution.

Stay tuned to Green Market Report’s section on Psychedelics as we continue to release emerging news about this exciting new movement. Our next event on Psychedelic Investing will be held on July 29th in San Francisco. Details will be released soon.

 


Video StaffVideo StaffFebruary 7, 2020

1min6750

The Green Market Report hosted its first Psychedelic Investing conference on January 24, in New York City. This panel was moderated by Lewis Goldberg, Managing Partner at Communications firm KCSA. He was joined by Ronan Levy of Field Trip Ventures and Brian Quigley of Green Sky Strategies. They spoke about the similarities between the emerging psychedelic companies and the early days of the cannabis industry. Levy was at the forefront of the legal cannabis industry in Canada when he co-founded Canadian Cannabis Clinics and CanvasRX Inc, which was acquired by Aurora Cannabis in 2016. His new venture will create clinics that will focus on psychedelics-assisted therapies.  Quigley is the Co-founder of Green Sky Strategies. He and his partners Jim McAlpine and Ophelia Chong have created a Cannabis Strategy team that combines deep cannabis industry and consumer experience with proven Fortune 500 strategic thinking. The group is looking at psychedelic investments. 


Debra BorchardtDebra BorchardtFebruary 6, 2020
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4min17370

Psychedelic clinic company Field Trip Psychedelics Inc. closed of its oversubscribed Series A financing round. The financing, which was completed through a private placement, raised $8.5 million for the company.

“The interest we had in this financing came from a broad and varied group of academics, entrepreneurs, medical professionals, financial professionals and investment funds,” said Ronan Levy, Executive Chairman of Field Trip. “The ability to pull together such a thoughtful, supportive and diversified investor base is certainly a tribute to the team at Field Trip and the work we are doing. It also speaks profoundly to the level of interest, excitement and importance that people around the world are placing on the advancement of psychedelics and the role they may play in improving mental health, performance, general wellness and happiness.”

The company said the funds will be used to execute the initial stages of Field Trip’s strategic plan to build out the world’s first network of medical centers focused exclusively on psychedelic-enhanced psychotherapy. In addition to that, the financing will help fund the final construction of its research and cultivation facility at the University of the West Indies in Jamaica that is dedicated to the study of psilocybin-producing mushrooms and the discovery of novel therapeutic molecules.

The financing was led by Field Trip’s founders and Singhal Health Foundation. Other notable investors in the round include Subversive CapitalSilver Spike Capital, and the venture capital firm Bolt, as well as individual investors Harris Fricker, an early-stage investor and pioneer in e-payments and blockchain, and Ben Greenfield, a globally recognized longevity expert and biohacker.

“Nearly 1 in 4 people will be diagnosed with a mental health condition in their lifetime. By 2023, depressive disorders will be the single largest cause of the burden of disease globally,” said Sanjay Singhal, Founder of the Singhal Health Foundation. “Addressing the global mental health crisis requires effort, work and coordination from people and organizations of all forms; academic, non-profit and for-profit. The team at Field Trip blends the right balance of a track record of success, ambition, and commitment to ethical and thoughtful business practices, which is why I’m excited to support their efforts and work closely with them to achieve their mission.”


Video StaffVideo StaffFebruary 5, 2020

1min9010

The Green Market Report hosted its first conference on Psychedelic Investing in New York City on January 24. This panel was titled “Business Strategy For Psychedelic Companies.

Journalist Jeremy Berke of Business Insider moderated this panel featuring Atai Life Sciences, which is a global biotech company that was created to address those suffering from mental health disorders. It has created a portfolio including Compass Pathways which uses Psilocybin as its lead compound. The company’s CEO Florian Brand will talk about how they have chosen the companies they have added to their platform and the promising uses of these innovative treatments. He is joined by Shlomi Raz, the founder of Eleusis, a clinical-stage life science company dedicated to unlocking the therapeutic potential of serotonin 2A receptor agonists, commonly referred to as psychedelics, through the mitigation and management of psychoactivity and Dr. Terry Kelly, the CEO of Perception Neurosciences. Thank you for watching the Green Market Report! Subscribe to our channel – it’s Free!


Video StaffVideo StaffFebruary 3, 2020

1min6871

Green Market Report hosted its first Psychedelic Investing Conference on January 24, 2020 in New York City. This is a compilation of still photos from the event. We appreciate everyone who was able to get a ticket to this sold-out event. Thank you to our sponsors: MindMed, Atai Life Sciences, Eleusis Ltd., KCSA Strategic Communications, Green Sky Strategy, Mattio Communications and Field Trip Ventures. Please subscribe to the Green Market Report channel. It’s free!


Video StaffVideo StaffFebruary 3, 2020

1min7910

The Green Market Report sponsored its first conference on Investing in Psychedelic Companies on January 24 in New York City. This panel gave the audience a current read on the marketplace for psychedelics. It was moderated by Shelby Hartman, the Co-Founder, and CEO of Double-Blind Magazine a biannual print magazine and media company that covers timely, untold stories about the expansion of psychedelics around the globe. She was joined by Jay Pleckham and Leonard Leher from Back of the Yards Algae Sciences who spoke about the scalability of growing mushrooms. In addition to that, Lauren Rudick, Partner at Hiller PC discussed the legal environment for manufacturing and testing psychedelics as a result of the lessons learned in cannabis.


StaffStaffJanuary 21, 2020
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3min17490

Just as the psilocybin mushroom market begins to heat up, one enterprising entrepreneur has quickly snapped up the trademark for the word “Psilocybin.” Marijuana Moment picked up on the founder’s notice on LinkedIn that the word had been trademarked. That post has since disappeared and while there is no mention of the trademark happening on the company’s website, the tiny TM does appear after each mention of the word Psilocybin on the company’s website.

The company sells chocolate bars, that don’t seem to contain any mushroom ingredients. In fact, there is little in the way of a description as to how the chocolate is made or sourced. It says the bars “have been created as a gateway to educate you on what is next for medicinal mushroom health and healing.” It does say that all the products are sold out.

Scarlet Ravin describes her company Psilocybin™️ as “a community-based support system holding a sacred knowing for others to come back to their knowing of their God-self.” She describes herself as being “known for her visionary Branding and Marketing which has led her companies to the front of the market allowing multiple press mentions and forward-thinking concepts that grab the attention of the mass market.”

Ravin told Marijuana Moment that she “plans to contribute 10 percent of profits to the Multidisciplinary Association for Psychedelic Studies (MAPS), which is involved in researching the therapeutic benefits of psychedelic substances.”

Marijuana Trademarks Not Allowed

Psilocybin mushrooms are also a schedule 1 substance under the Controlled Substance Act like marijuana. The U.S. Patent Trade Office stated that marijuana is still prohibited from U.S. trademark registration. “The CSA prohibits, among other things, manufacturing, distributing, dispensing, or possessing certain controlled substances, including marijuana. 21 U.S.C. §§812, 841(a)(1), 844(a). Therefore, the USPTO refuses registration when an application identifies goods encompassing CBD or other extracts of marijuana because such goods are unlawful under federal law and do not support valid use of the applied-for mark in commerce.”

Marijuana Moment noted that this trademark is “Specifically for educational materials and it’s listed on the supplemental register, rather than the principal register, which means it would be incumbent upon the brand to prove that it has earned distinctiveness of the mark if the issue went to court.”

 

 

 


Noemi GonzalesNoemi GonzalesJanuary 17, 2020
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5min13970

Your Psilocybin Mushroom Companion: An Informative, Easy-to-Use Guide to Understanding Magic Mushrooms―From Tips and Trips to Microdosing and Psychedelic Therapy

Your Psilocybin Mushroom Companion” by Michelle Janikian is a useful book when it comes to shedding light on the benefits and misconceptions of mushroom/Psilocybin use. The level of information available is quite surprising and it does a great job of diffusing lingering myths on the subject of Psilocybin.

Not sure if you want the book just yet?

No worries, we reviewed it for you!

-Topic Focus-

The author, Michelle Janikian, focuses on the implementation side of mushroom use. Here you will find information about the best ways to guide others during their psychedelic trips, microdosing, how to maximize mental health benefits, and more.

There is much misinformation on this subject so seeing some focus allotted toward the dispelling of such myths in “Your Psilocybin Mushroom Companion” is refreshing.

Reading about the notion that mushrooms can improve your life in a variety of ways is certainly interesting. The discussion on the benefits gained from microdosing is impressive and learning how to guide others seems to be a useful skill.

Reading about how microdosing can increase physical stamina, boost your mood, and elevate your clarity of thought is very fascinating and worth further exploration.

About the Author

Michelle Janikian is a journalist/author who has experience writing for publications such as Rolling Stone, High Times, Teen Vogue, and currently writes for Playboy.

Michelle studied writing and psychology at Sarah Lawrence College and the majority of her writing content focuses on drug policy, education, and the growing legal cannabis industry. Her passion for these subjects becomes clear as you read her content.

She also displays expertise in investigating the potential medicinal benefits of plants/substances that currently possess a degree of social stigma.

Michelle was raised in New Jersey but she was born in New York.

You can learn more about the author at michellejanikian.com

-Reading Experience-

The writing level is very appropriate and welcoming for beginners to begin to understand microdosing, mushroom use, and more.

You do not need to be up to speed on deep scientific terminology to keep up with and utilize this book. Again, this is a great book for the beginner to learn about the introductory topics to Psilocybin use and to dispel potential misconceptions on the topic.

There is minimal fluff so the book gets right to the point and flows well. It should not take more than a few days to get through and makes for a great reference guide to look back to when needed.

It is kind of exciting to consider the potential implications in the future that Psilocybin could have on the medical industry after reading this book.

-Summary-

“Your Psilocybin Mushroom Companion” is an ideal tool for a beginner to understand the basics of microdosing, dispelling myths, and learning about the potential benefits that come with microdosing Psilocybin mushrooms.

The book is to the point, accessible, and is a quick read. No advanced scientific degrees required to keep up with this one.

The author does a great job of demonstrating her expertise on the topic as she guides us through some useful information on Psilocybin mushrooms and their implementation.

You can see for yourself how Psilocybin can benefit your life by checking out Michelle’s book here:

https://www.amazon.com/Your-Psilocybin-Mushroom-Companion-Easy/dp/1612439470


Anne-Marie FischerAnne-Marie FischerJanuary 6, 2020
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10min15081

The world is hurting right now, and many are feeling the pain of a planet in destruction. We’re dealing with climate change (and climate change denial), forest fires are ravaging homes and destroying nature around the world, and we all know that Mother Nature sure likes to toss a giant natural disaster in there from time to time. Humans have both lost control of and lost touch with their natural environment. 

It’s time to get back to nature, and psychedelics may be what get us there. 

Researchers in London, UK, investigated the association between psychedelic use and a concept they termed “nature relatedness,” or one’s level of self-identification and subjective sense of connectedness with nature. 

The study entitled “From Egoism to Ecoism: Psychedelics Increase Nature Relatedness in a State-Mediated and Context-Dependent Manner was published in December 2019 in the International Journal of Environmental Research and Public Health. The study was conducted at the Centre for Psychedelic Research’s Department of Brain Sciences at Imperial College in London, UK, and was led by Hannes Kettner and Sam Gandy. 

While the study wasn’t restricted to one psychedelic, the researchers looked at the “healing and divination purposes” for which substances like DMT, LSD, psilocybin (“magic mushrooms”), mescaline, ayahuasca, iboga, and salvia are used, hypothesizing that the use of these substances, especially in the long term, are strongly correlated to nature relatedness or that feeling of being “one” with our natural environment. The researchers cite “ego-dissolution” as one of the catalysts of this connection between psychedelics and nature relatedness and further hypothesize “a positive effect of natural settings on psychological outcomes following psychedelic use.”

The Methodology

The researchers conducted their study through an online survey, asking people who planned to use psychedelics in the near future to complete a survey. The beginning 634 participants received baseline assessments looking at demographics, psychological well-being via the Warwick–Edinburgh Mental Wellbeing Scale, a nature relatedness scale, and the amount of lifetime psychedelic use. 

One day after the psychedelic experience, participants were asked to complete surveys that looked at some pretty incredible things about the human experience. These measures included a mystical experience questionnaire, which assessed positive mood, perceived transcendence of time and space, a sense of ineffability, and mystical feelings as key components of mystical-type peak experiences; the ego-dissolution inventory, measuring acute disintegration of the sense of self; and the challenging experience questionnaire, which includes items about fear, grief, physical distress, insanity, isolation, death, and paranoia. The audio-visual effects of the psychedelics were also measured to understand the extent to which the substance altered sight and perception.  Participants were asked to identify whether their psychedelic experience took place in nature, with an additional item measuring to what extent access to nature was perceived to have influenced the overall quality of the experience.

The participants also were invited to complete surveys two and four weeks after the psychedelic experience, and then two years after that, for the researchers to understand the longitudinal effects of nature relatedness. Sixty-four participants participated in the two-year follow-up. 

Psychedelics Increase Nature Relatedness

“Our primary hypothesis of increased nature relatedness following a psychedelic experience was confirmed,” concluded the researchers in the Discussion section of the study; the researchers “providing the first empirical evidence for a causative role of psychedelic use in the enhancement of nature relatedness in a large sample of healthy participants.” 

Across all participants, psychedelics proved to have a strong effect on nature relatedness, with this sentiment being elevated directly post-use and promoting a prolonged appreciation for nature in the two-year follow-up. 

Why Is This Important?

We all know that taking time to be in nature is part of a healthy lifestyle. You can’t deny that taking time to feel the sun on your face, breathe in the smells of nature, and sit still in the quietness of solace stimulates serotonin and makes you feel simply incredible. However, not enough of us take time to connect – truly connect – to our natural environment as a method of healing and self-discovery.

As the authors note, previous researchers have argued that “experiences in natural settings can foster an empathic connection to nature and the humble positioning of one’s self within it, which is less likely to apply to man-made environments.” The authors note that previous accounts of psychedelics in nature represent the opportunity to find “profound levels of identification or merging with the natural world.” 

Other researchers have uncovered that those who use psychedelics within a natural setting experience “dissolution of boundaries and awe-inducing feelings of unity with nature during peak psychedelic effects.” The authors have also observed that even one experience with psychedelics can produce an “enduring” change in one’s perception of nature.

Spending time in nature and its benefits for health have been studied for years, with meta-analyses pooling data from almost 150 studies, looking at 290 million participants, showing that time in nature can have significant physical health benefits, including reduced risk of type II diabetes, cardiovascular disease, premature death, preterm birth and reductions in stress, high blood pressure and cholesterol. 

In addition to these physical benefits, exposure to nature also produces incredible mental health benefits, including increases directed-attention abilities, increased attentional capacity and positive emotions, and the ability to reflect on a life problem. Nature exposure has been associated with decreased anxiety, decreased stress, a decrease in rumination, increased vitality, psychological restoration, and enhanced prosocial orientation. 

Researcher Conclusions

The researchers conclude that their data “imply a reliable and robust positive association between psychedelic use and nature relatedness” with the correlation between psychedelics use and nature relatedness getting stronger with continued use among nature experience. 

The observed increase in nature relatedness correlated with increases in psychological wellbeing, which remained significantly elevated two years after the psychedelic experience. The researchers finally conclude that “these findings point to the potential of psychedelics to induce enduring positive changes in the way humans relate to their natural environments.”

The Way Forward with Psychedelics

The psychedelics industry, as we know it, is relatively new, and some insiders of the psychedelic movement credit cannabis as what paved the way for psychedelics to gain momentum.

Green Market Report has been following the psychedelics movement closely, eagerly watching our friends in psychedelics make amazing strides. Late last year, we reported on Field Trip Ventures, co-founded by cannabis industry veteran Ronan Levy, which announced that they’d be opening a psychedelics research center in Jamaica. We also reported on Orthogonal Thinker, who had announced a capital raise of $4 million to help bring psilocybin to more people. 

We are yet to see a projected worth of the emergent psychedelics industry, but if the buzz is any indication, this new industry is one to get in on while it’s just beginning to take hold. 

Green Market Report is also hosting its first conference titled “The Economics of Psychedelic Investing” on January 24, 2020, in New York City. For more information and to buy tickets go to https://www.greenmarketsummit.com/2020/psychedelic/.

 


Anne-Marie FischerAnne-Marie FischerNovember 12, 2019
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10min35490

“If cannabis has been significant, psilocybin will have much more of a therapeutic impact,” said Toronto-based cannabis-turned-psychedelics entrepreneur Ronan Levy, when Green Market Report caught up with him to talk about the future of research on psychedelics. 

Field Trip Ventures, the world’s first integrated company in legal psychedelics and psychedelic-assisted psychotherapy, announced last month that it has developed a strategic partnership with the University of the West Indies (UWI) in Mona, Jamaica to create the world’s first legal research and cultivation facility dedicated to psilocybin-producing mushrooms. 

One of five co-founders, Ronan Levy, who has found significant success in the cannabis industry, predicts that what will be uncovered about psychedelics at the UWI research facility will be a “paradigm shift in the treatment of mental health.”

What’s Going Down in Jamaica

The partnership will involve Field Trip Natural Products Limited (Field Trip’s Jamaican subsidiary) constructing, funding, and operating a state-of-the-art research and cultivation facility on UWI’s Mona campus. UWI will lease to Field Trip Ventures the land for building the facility, while Field Trip Ventures will provide leading biology, mycology and chemistry researchers to assist Field Trip’s research and cultivation efforts.

Jamaica is an ideal location in which to study the effects of psychedelics, specifically psilocybin (“magic mushrooms”). In Jamaica, psilocybin has never been made illegal, and it remains legal to sell, possess, transport and cultivate. “The legal status of psilocybin in Jamaica enables broader clinical research,” says Levy. Most important is the ability to “get approvals to work with organic psilocybin”. 

Most of the research on psilocybin until now, Levy notes, has been limited to synthetic molecules due to the legal status of psilocybin across the world. Working with organic molecules derived from psilocybin in Jamaica will allow research to be uncovered on how psilocybin, and its precursor molecule psilocin, actually affect humans, especially in light of recent movements towards decriminalization and legalization of psilocybin in Colorado and California. 

The government in Jamaica is supportive of this partnership, as the Minister of Health, Christopher Tufton, is a vocal advocate for this research, and puts the mental health of the people of his country as his primary objective. 

A Best in Class Partnership

UWI has long been known within academic communities as a forward-thinking research and education center. The focus of the UWI Facility will be broad-ranging, from genetics, breeding and cultivation work on the 180+ plus species of psilocybin-producing mushrooms, to developing methods and analysis for extractions and formulations, to identification of novel molecules for drug development purposes. Research at the Facility will be led by Rupika Delgoda, Professor of Biochemical Pharmacology & Pharmacognosy and Director of the Natural Products Institute at UWI, who holds a doctorate from Oxford University (UK) in Pharmacology. “It was an immediate synergy,” said Levy, noting that the partnership brought together “a well-equipped team of scientists” to provide a turnkey solution to legal psychedelics research through the research facility.

Levy notes that the facility will also focus on other molecules with therapeutic interest and values for psychedelics assisted psychotherapy, with best in class practices to enhance the psychotherapy process, and in essence to “suspend the ego”, as Levy describes it. The facility will start looking at ketamine as well while also integrating practices like meditation and breathwork into the psychotherapy sessions. 

A Look at the Growing Psychedelics Movement

Unless you’ve been living under a rock, you’ve likely heard that more people are beginning to turn to psychedelics, and psychedelic-assisted psychotherapy, to manage mental health. Psychedelic assisted psychotherapy, or PAP, involves the professionally supervised use of ketamine, MDMA, psilocybin, LSD and ibogaine as part of psychotherapy programs. Clinical results so far are showing safety and efficacy, even for “treatment-resistant” conditions, which is why firms like Field Trip Ventures, and Orthogonal Thinker, who we covered earlier this season, are working so hard to spring the psychedelics movement forward. 

Earlier this fall it was announced that John’s Hopkin’s opened the Center for Psychedelic and Consciousness Research. Researchers intend to focus on how psychedelics affect behavior, mood, cognition, brain function, and biological markers of health. Upcoming studies will determine the effectiveness of psilocybin as a new therapy for opioid addiction, Alzheimer’s disease, post-traumatic stress disorder (PTSD), post-treatment Lyme disease syndrome (formerly known as chronic Lyme disease), anorexia nervosa and alcohol use in people with major depression. 

Field Trip intends to build on the existing and current work that is happening within the psychedelics and psilocybin movement. “Although psilocybin, as a molecule, has been well-studied, there is great opportunity to create impact by developing a better understanding of the fungi that produce psilocybin and other tryptamines.  This is why we are so pleased to be partnering with UWI, a leading global academic institution, in building this facility in Jamaica,” said Mujeeb Jafferi, Field Trip’s President.

Standing on the Shoulders of Cannabis

Working in cannabis, and building a number of successful companies and partnerships, is what Ronan Levy sees as his biggest strength of what he and many of his partners bring to the Field Trip and psychedelics table. 

“I wanted to ensure that I was able to provide a thoughtful and prudent approach to cannabis medicine,” said Levy of his first successful companies Canadian Cannabis Clinics and CanvasRX (co-founded with Field Trip co-founders Joseph del Moral, Hannan Fleiman, and Dr. Ryan Yermus), which have served over 100,000 Canadians in the medical cannabis system. After CanvasRX was sold to Aurora Cannabis Inc (NYSE: ACB) in 2016, Levy served as Senior Vice President, Business and Corporate Affairs for Aurora. Holding a Juris Doctor and a Bachelor of Commerce degree, Levy saw a natural next step in getting back to entrepreneurship with the psychedelics movement starting to take off. 

Much like the cannabis industry’s maturity, Levy sees the same maturity happening within psychedelics in the way that we’ve been able to classify components of the cannabis plant. Because of what the cannabis industry has done for understanding psychoactive compounds, psychedelics have an excellent benchmark to start off, with Levy noting now “the caliber is higher than cannabis was five years ago.”

Levy is taking his experience in what he refers to as “stigmatized medicine” into this paradigm shift that could have a significant impact on health care in the future.

Because the status of psilocybin still remains illegal across the world, it’s difficult to determine the potential market worth of legal psychedelics. Psychedelic Science Review noted that “any drug with the potential to address a $48 billion cost to employers due to treatment-resistant depression and $249 billion alcohol-associated cost to society, also has the potential to make a momentous impact in the marketplace.”

“We’re getting excitement from conventional pharmaceuticals and Big Pharma,” says Levy.

Green Market Report continues to keep a keen eye on the developing psychedelics industry and looks forward to covering important movements in this promising movement. 

 



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