Psychedelic Archives - Green Market Report

Debra BorchardtDebra BorchardtJanuary 25, 2021
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8min14131

This week the first psychedelic stock ETF (exchange-traded fund) will begin trading on the Canadian NEO exchange under the ticker PSYK on January 27. The base currency will be Canadian dollars. The ETF will be managed by Canadian financial services company Horizons ETF Management and it will be focused on the emerging psychedelics opportunity led by life science and pharmaceutical companies. Horizons noted that a growing body of clinical research has demonstrated the potential use of psychedelic compounds, such as psilocybin and ketamine, as treatment for mental illness, depression, addiction, post-traumatic stress disorder (PTSD), and other medical conditions. As a result, there is a growing number of public companies listed in North America that are focused on the development of therapeutic solutions using psychedelics.

Horizons said that PSYK will seek to replicate the performance of a market index that is “designed to provide exposure to the performance of a basket of North American publicly-listed life sciences companies having significant business activities in, or significant exposure to, the psychedelics industry. PSYK will be using the North American Psychedelics Index as its market index. The Index is a proprietary index owned and operated by Horizons ETFs, and Solactive AG is the independent calculation agent for the Index.”

“After decades of restrictions, recent policy changes and exemptions in Canada and the United States have allowed for increased research in the therapeutic application of psychedelic compounds, and the potential to create an entirely new marketplace for drugs derived from psychedelics,” said Steve Hawkins, President, and CEO of Horizons ETFs. “PSYK will give investors exposure to the leading public companies undertaking this important research and development of treatments for the more than 700 million people globally that, according to the World Health Organization, suffer from some sort of mental illness, addiction or eating disorder.”

Companies In The ETF

A total of 17 North American life sciences companies have been included in the initial ETF portfolio. These companies form part of the North American Psychedelics Index, provided by German index provider Solactive, which underlies the PSYK ETF. They are:

Management Comments

Tim Moore, CEO of Havn Life said in a statement,  “Our team is excited to be included in Horizons Psychedelics ETF, which will allow Havn Life to become visible to and available to a wider investment community. This is an opportunity to provide added shareholder value as we continue to execute our operational milestones.”

“We are honoured to be selected as part of the first-ever Psychedelic ETF. This is a milestone moment for our industry and for MINDCURE, as we continue to explore, develop and commercialize products to give hope and healing to a world in pain and suffering from a mental health crisis. This solidifies our position amongst peers and gives investors a great opportunity to support our industry as a whole,” said Kelsey Ramsden, President & CEO, MINDCURE. “We congratulate our peers and believe it is a privilege to build a new category of care and investment together.”

“While medicinal psychedelics are certainly not new, the legal market and the ability to invest in these cutting-edge companies certainly is new,” said Joshua Bartch, Co-Founder & CEO, Mydecine in a company statement. “Together, with these 17 companies, Mydecine is helping to build an industry that is investing in and researching innovative solutions for treating previously untreatable mental illness. We are honored that we are included, and we are also mindful that this now gives more people, who may be new to the space, the ability to access and diversify their investments. By having exposure to many different companies with solid fundamentals, but different approaches, philosophies, indications, and technologies, is healthy for investors in the industry.”

“We launched the world’s first Cannabis-focused ETF in 2017, the Horizons Marijuana Life Sciences Index ETF (HMMJ), and we see many similarities between that industry in 2017 when it was in its infancy to the psychedelics industry now. We see the potential for significant growth from this new sector like what we have witnessed with the Cannabis industry during the last few years.” said Mr. Hawkins. “At Horizons ETFs we strive to be at the forefront of key global transformative investment themes. We believe the opportunities with psychedelics not only provide a compelling investment case, but also the potential to provide life-changing impact for those suffering with mental illness.”


StaffStaffSeptember 24, 2020
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5min7431

Mindleap Health, a subsidiary of Mydecine Innovations Group Inc. (OTC:MYCOF) has launched a digital health platform that combines telehealth with mood, emotion, and habit tracking. Starting with psychedelic integration, the Mindleap platform will bring mental health specialists online, enabling a new era of digital mental health and wellness. The company said that later this year it will add other types of mental health specialists such as addiction and holistic wellness specialists.

Simon Abou-Antoun Mindleap Chief Technology officer said, “Mindleap was designed with trust as our number one priority. Our platform is fully secure and all data is encrypted in-transit and at-rest and we are committed to each individual’s right to full privacy and confidentiality when they use our platform.”

The Mindleap platform is available for download for free on both the IOS and Google Play stores. Potential patients can browse vetted and experienced specialists and easily schedule appointments and purchase mental health services. Specialists on Mindleap benefit from the platform’s full freedom to manage their virtual practice on their terms setting their own prices, choosing the hours they work each week (with no minimums or maximums). Mindleap says its specialists are able to offer more personalized support all while providing end-users with the tools needed to track their progress and take control of their mental health.

The Mindleap platform said it will provide a comprehensive space for users to actively engage with specialists starting with aftercare for therapeutic psychedelic use.

Psychedelic Aftercare 

The company has noted that over the past decade, a growing body of research published by leading academic institutions such as Imperial College of London, Yale University, and Johns Hopkins University has demonstrated that psychedelic medicines like MDMA, psilocybin (the active compound ingredient found in magic mushrooms), MDMA, and ketamine can be used as effective and safe treatments to treat a variety of mental health conditions, much better than current pharmacological treatments and therapies. In tandem with this breakthrough knowledge, a series of educational programs have emerged to educate mental health and wellness specialists on how to administer psychedelic medicines in guided therapeutic sessions, as well as to provide care after a psychedelic experience.

Integration specialists help clients through a systematic process that can turn their psychedelic experience into something practical – this can include making sense of unique images or ideas that came to mind during a psychedelic experience, as well as setting new goals, habits and behaviors that can help to improve a person’s life. This process is called integration or aftercare and is an important part of using psychedelics for therapeutic purposes and personal growth.

Mindleap says it does not encourage people to spend time on their phones while taking psychedelic substances, and does not facilitate psychedelic use via the platform, but acknowledges a need for people to connect with trained professionals who can help them discuss and understand their individual psychedelic experiences.

Privacy Concerns

Mindleap’s software development team has built the platform to meet all HIPAA guidelines by implementing secure electronic access to health data and remains in compliance with privacy regulations and best practices. Mindleap said it has strict policies around how data is handled and stored; all data is encrypted in-transit and at-rest, and specialists are not permitted to save their clients’ data – they can only view it temporarily while the user chooses to share it during a video call.


Kaitlin DomangueKaitlin DomangueAugust 11, 2020
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4min18890

Revive Therapeutics is introducing dissolvable, oral psilocybin film-strips to their portfolio. The move comes by way of a sponsored research partnership agreement with the Reed Research Group out of the University of Wisconsin-Madison. 

Psilocybin is a compound that is found in hallucinogenic mushrooms, sometimes called magic mushrooms. It has been used for thousands of years across many cultures. Australian cave paintings are said to have been created in 10,000 BCE and are said to suggest the culture’s use of psilocybin mushrooms. Other Spanish rock paintings indicate that prehistoric people used magic mushrooms (or at least knew of their existence) around 4,000 BCE.

Three controlled trials exploring the use of psilocybin mushrooms for mood and anxiety have suggested that using magic mushrooms (properly dosed) may reduce the symptoms of depression in anxiety relating to psychiatric distress associated with cancer. The study shows that participants experienced relief for at least six months after taking just one dose! “A small, open-label study in patients with treatment-resistant depression showed reductions in depression and anxiety symptoms 3 months after two acute doses. For addiction, small, open-label pilot studies have shown promising success rates for both tobacco and alcohol addiction.”

Revive Therapeutics has determined tannin-chitosan composite as the number one candidate for their strips. The film strips will undergo further testing before being made available, but they will have dosages that range from 1 mg to 20 mg. There’s a number of benefits to using dissolvable oral strips, including a faster time to the bloodstream and the ease of use for patients who may not be able to swallow (plus there is no need for water). This drug delivery technology aspires to produce both natural and synthetic extract of psilocybin in a number of ways, including topical gels, transdermal patches, and oral foams. 

The CEO of Revive Therapeutics, Michael Frank, said “We are very pleased about the progress we have achieved to date and this technical milestone for our drug delivery technology specifically in the development of an orally dissolvable thin film strip for psilocybin, which will be used in future human clinical studies. This is the first time that we have applied our drug delivery technology to oral thin films and we see great promise in delivering psychedelic-based medicines to treat various diseases and disorders that would benefit from such a delivery method and in partnering with life sciences companies seeking to add unique offerings in their product pipeline.  We look forward to unveiling the final prototype in the coming weeks.”


Video StaffVideo StaffMarch 23, 2020

10min15960

Mental health company Mindbloom provides guided psychedelic therapy treatments using ketamine. The company opened its first location in New York City during the COVID-19 crisis. Mindbloom has quickly pivoted to telemedicine as the demand for its services has risen during the pandemic. Green Market Report was able to speak with Founder Dylan Beynon to discuss the company’s response and its plans for expansion.

Debra Borchardt, Editor, Green Market Report:             Mindbloom is a new company that has a clinic in Manhattan in New York City that is starting ketamine treatments, but they have plans for many more types of treatments using various psychedelic drugs for people with really pressing issues having to do with anxiety, drug-resistant depression. Dyan, tell us how you came up with this idea and what prompted you to start this company.

Dylan Beynon, Founder Mindbloom:                   First super excited to chat with you today, Deb, and to share the incredible work that our psychiatric clinicians are doing in mental health care for people here in New York and soon all across the country. I got the idea for Mindbloom really over the past 10 years. I grew up in a family that had a severe mental illness, both my mother and my sister and throughout my development, getting through some of the turbulence that I grew up with, I turned to psychedelic medicine 10 years ago and it was one of the most transformational events of my life and it’s been a big part of my life for the last 10 years. 18 months ago I became a ketamine patient in a clinical setting and saw that there was an opportunity to take this profound transformational medicine and help bring it to more people and increase access to help people who need it most get the care that they need.

GMR:             And how are you reacting to the current COVID crisis? Because we’ve been hearing that some doctors don’t want to see patients in person right now and with this particular situation, because this virus is so frightening, I would think that your very patients are the ones that really need treatments the most right now, that maybe their anxiety levels have skyrocketed or maybe if they weren’t even an existing patient that, if they weren’t one before, they are one now. How are you guys responding?

Dylan Beynon:                   You nailed it, Deb. We used to say that mental health care is the number one public health crisis in the United States and that’s no longer the case. Coronavirus is without a doubt the number one public health crisis in the United States. We’re in a state of emergency and we’re seeing a demand for treatments for anxiety, depression on Mindbloom a skyrocket since the onset of coronavirus. The way that we’ve responded, and I’m really proud of our clinicians for really feeling the call to service during this time, is we had already begun piloting virtual and remote sessions to help increase access to treatment. So essentially like telepsychedelics. And we had already done through the platform a couple of hundred remote sessions for people who had started their journey in Mindbloom’s nomad center.

Dylan Beynon:                   And so now in response to coronavirus, we are really excited to announce that our clinicians are treating 100% virtually. So remote enabled and guided psychedelic therapy sessions with guided ketamine therapy so that people can stay home and get the treatment that they need for their anxiety and depression without having to come in and keep both our clinicians and clients safe in these tough times.

GMR:             Beyond the inpatient experience, Mindbloom also has special software that you’ve created around the treatment process. Can you dig into that a little bit better? Is that followup software or how does this software relate to the treatment?

Dylan Beynon:                  From day one, we set out to become a technology company, helping use technology to increase access to people and to help our clinicians improve outcomes to help people really get the most out of these treatments. So you can think of it as a teletherapy meets a Headspace platform designed specifically for psychedelic therapy where clients are able to do video consults and video therapy to prepare and integrate their experiences with trained psychiatric clinicians and therapists. Mindbloom also helps people with guided psychedelic therapy content, including audioscapes with guided meditations and music for their sessions and journaling prompts and other content to help them really maximize the experience.

GMR:             One of the things that I know you were planning to do is expand, so right now you mentioned you’re in Manhattan and you’ve got plans to go into other cities. What are those other cities and what are the goals here?

Dylan Beynon:                   In the next 30 days, we’re already going to expand into states that have, in the state of emergency dropped their in-state licensure requirements for physicians and clinicians to need a license in that state to practice. And so that’s an effort to respond to the coronavirus crisis by helping to increase access to behavioral health and mental healthcare treatments. And then we’re going to continue to expand across the country over the next year or two with both our clinic-based and remote-based approaches.

GMR:             And how are you funded? Because you are a new company and expansion is not cheap. And I was just curious, are you self funded? Have you done a raise? What has gotten you to this point?

Dylan Beynon:                   We’re a venture-backed healthcare technology company. We closed our first round of funding in the summer of last year to begin treating our first cohort of clients through the platform and bringing clinicians on to do that treatment. And so we’ve raised funding from some of the biggest investors in healthcare technology and psychedelic medicine. So some of the same people who funded and backed Zocdoc and Oscar and COMPASS Pathways. So right now we’re laser-focused on helping people during this crisis and helping clinicians on Mindbloom add the tools that they need to create these astounding outcomes for people. And I think as long as we continue to do that, then the next funding for expansion will fall in place.

GMR:             Right now you’re really focused on ketamine because that’s legal, but you have plans for Psilocybin and other products, correct?

Dylan Beynon:                   We don’t think of Mindbloom is either a ketamine therapy company nor even a psychedelic medicine company, but as a next-generation mental health and wellbeing platform who are helping to increase access to the most effective science-backed mental health and wellbeing treatments available. Today based on research, based on my experience, based on the experience of our medical director, Dr. Casey Paleos who’s a principal investigator on the MDMA clinical trials and was an early pioneer in ketamine therapy research and practice, we think that ketamine is the most effective science-backed treatment that is not readily or widely available to people. So that’s our focus today, but we are super excited based on everything I just mentioned plus the research for MDMA assisted therapy, which is in phase three clinical trials, Psilocybin assisted therapy, which is in phase two clinical trials. Both breakthrough therapies designation by the FDA as well as other non-psychedelic medicine treatments that we think can be really powerful to help people with anxiety, depression, and other conditions that we begin helping people with.

GMR:             Thank you so much for joining us and good luck with that. And really, I think it’s super that you’re out there helping people, helping them through this crisis and helping them so that they can be functioning adults.


Anne-Marie FischerAnne-Marie FischerMarch 4, 2020
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7min17710

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.

 


AxisWireAxisWireMarch 3, 2020
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4min7000

New York City – March 3, 2020 /AxisWire/ The Green Market Report (GMR), the cannabis industry’s leading financial news outlet, releases its first Psychedelic Trend Report.  This nine-page, 3500-word report was created as a result GMR’s first ground-breaking, sold-out event on the emerging psychedelic market it held in NYC in January. This original report looks at the trends and companies that are paving the way for new looks at old treatments. You can download the report at greenmarketreport.com/reports.

As more municipalities and states begin to decriminalize various psychedelic products for medical treatments, the investment world has taken an interest in the emerging industry. Many cannabis industry leaders and investors have begun crossing over into the psychedelic world to start new companies and pursue new medical treatments.It was the interest in this evolving industry that caused the Green Market Report to host its first Psychedelic Investing Summit in New York City.

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. 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.” Debra Borchardt, Co-founder & CEO of Green Market Media

This report gives a brief introduction to the uses of psychedelic treatments, the potential patient populations and the legal landscape for these compounds. It also highlights companies like Mind Medicine Inc., Atai Life Sciences, Field Trip Health and Eleusis Ltd., which are each pursuing different paths for treating patients. The report also covers the research being performed by companies like Back of the Yards Algae Sciences and the investment goals of companies Green Sky Strategies that is putting money into these endeavors.

Green Market Report will be hosting its next conference The Economics of 2020 Cannabis on April 3, in New York City featuring one panel on psychedelics and following that it will host another Psychedelic Investing Summit on July 30, in San Francisco. The report is available now on the Green Market Report website. 

About Green Market Report:

The Green Market Report (GMR) is headquartered in the Financial District of New York City with an office in Los Angeles. GMR is poised to be the center for trustworthy business, financial and economic news, and intelligence. The site offers coverage on financial matters including news briefs on business, cultivation, and extraction, cannabis company stock prices, and wholesale cannabis pricing. For more information, please visit www.greenmarketreport.com or email info@greenmarketreport.com. Follow us on Facebook, Instagram and Twitter @GreenMarketRpt.

Media Inquiries

Cynthia Salarizadeh

Green Market Media 

Cynthia@salarmediagroup.com 

(856) 425-6160

 


Video StaffVideo StaffFebruary 7, 2020

1min8940

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. 


Video StaffVideo StaffFebruary 3, 2020

1min12240

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.



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