Psychedelic Archives - Green Market Report

Video StaffVideo StaffMarch 23, 2020

10min11080

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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7min12860

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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4min4450

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

1min7240

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

1min8870

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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