Why North America Region is Dominating the Billion Dollar Psychedelic Drugs Market

- FinancialNewsMedia.com News Commentary 

PALM BEACH, Fla., Oct. 5, 2021 /PRNewswire/ -- The psychedelic drugs market is creating major potential for treatment of mental illnesses, and as a result, it is likely to see more demand and hence likely to attract major investments in the near future. The Psychedelic Drugs market is growing rapidly due to the increasing prevalence of depression and other mental disorders worldwide. The need for handling environmental stress and enhanced and better quality of lifestyle is acting as a driver for the Psychedelic Drugs market. The treatment for psychedelic drugs dependency is expected to boost psychedelic market growth. In addition, rising research and development activities in psychedelic therapeutics categories across the world have supported industrial development significantly. Companies are aggressively investing in R&D activities to develop novel psychedelic treatment molecules with minimal side effects associated with these products. This has further resulted in a strong platform for the further growth of the psychedelic drug industry through 2026. According to a report from Data Bridge Market Research, the psychedelic drugs market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 13.3% in the forecast period of 2021 to 2028 and is expected to reach USD 7,567.52 million by 2028 from USD 2,823.67 million in 2020. It said: "The rising prevalence of mental depression and anxiety and availability of off-label drugs are the major drivers which has propelled the demand of the psychedelic drugs market in the forecast period." Active companies in the market this week include Optimi Health Corp. (OTCQB: OPTHF) (CSE: OPTI), Revive Therapeutics Ltd. (OTCQB: RVVTF) (CSE: RVV), Seelos Therapeutics, Inc. (NASDAQ: SEEL), Numinus Wellness Inc. (OTCPK: LKYSF) (TSXV: NUMI), COMPASS Pathways plc (NASDAQ: CMPS).

Another report from Research And Markets added: "In addition, rising research and development activities in psychedelic therapeutics categories across the world have supported industrial development significantly. Companies are aggressively investing in R&D activities to develop novel psychedelic treatment molecules with minimal side effects associated with these products. This has further resulted in a strong platform for the further growth of the psychedelic drug industry during the forecast period. The North America region dominates the psychedelic drugs market. In North America, growing awareness of mental health disorders such as depression and stress is expected to boost the psychedelic drug market growth. Social elements such as economic stress, the partition of family-oriented supporting structures, exacerbating environmental conditions are further estimated to accelerate market growth during forecast period."

Optimi Health Corp. (OTCQB: OPTHF) (CSE: OPTI.CN) BREAKING NEWS: Optimi Health Natural Psilocybin Extraction Breakthrough Submitted for Provisional Patent Application - Optimi Health Corp. ("Optimi" or the "Company"), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, is pleased to advise of a recent patent filing pertaining to a breakthrough process that facilitates the extraction of the natural products Psilocybin and Psilocin from mushrooms at higher yields than previously possible.

The instability of Psilocybin and Psilocin has historically been a difficult problem to solve. Compared to the total alkaloid content believed to be in mushrooms, analytical chemistry studies have shown a 3-fold decrease in the total alkaloid content when the alkaloids are extracted from mushrooms that have been subjected to dehydration. Optimi has discovered a novel, high yielding extraction technique by combining multiple process steps that collectively increase the total yield of alkaloids retrieved from the mushrooms.

Many companies in the sector frequently use synthetic Psilocybin due to the instability of Psilocin which has been shown to degrade due to its phenolic hydroxy group.  Optimi's unique extraction technique not only increases overall alkaloid yield, but also protects the active alkaloids from degradation.  Optimi Health Chief Scientific Officer, Justin Kirkland notes, "I find the compounds produced by these mushrooms as quite precious and am delighted to have developed a procedure that maintains their integrity."

This innovative molecular protection process is believed to increase the bioavailability and permeability of the active components of the mushroom. In keeping with Optimi Health's commitment to sustainability and the environment, the proprietary process protected in the patent filing extensively utilizes green chemistry. Additionally, the process aids in lowering the cost of the final drug product for the patient as well as creating improved manufacturing efficiencies and improved safety characteristics related to farm operations.    

Optimi Health CEO Bill Ciprick states, "Today's announcement reflects our determination to advance the innovation of all-natural mushroom science. We've achieved a singular achievement which will ultimately enable future patients the ability to select a superior, natural solution for their needs. The fact our process is both cost-effective and offers higher yields is, of course, a potentially significant commercial factor for us. We are looking forward to implementing these improved procedures as the construction of our mushroom farm facilities nears completion and are excited to continue to develop our inhouse IP portfolio to bring added value to our venture and ultimately to our shareholders." Continued…. Read this full release and more news for Optimi Health Corp. at:  https://www.financialnewsmedia.com/news-opt/     

Other recent developments in the biotech industry include:

Revive Therapeutics Ltd. (OTCQB: RVVTF) (CSE: RVV), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, recently announced that AdvisorShares® Investments LLC ("AdvisorShares"), a leading sponsor of actively managed exchange-traded funds (ETFs) has included Revive Therapeutics in the inaugural launch of its AdvisorShares Psychedelics ETF ("PSIL").

PSIL invests in the emerging psychedelic drugs sector, offering exposure to biotechnology, pharmaceutical, and life sciences companies leading the way in this nascent industry. The ETF at launch includes 16 publicly listed companies offering investors exposure to companies who are leading the way in the emerging psychedelics space.

"We are pleased to be included in the inaugural launch of the PSIL ETF as it provides further validation of our pharmaceutical psychedelics strategy in pursuing novel uses, formulations and delivery forms of psilocybin for the treatment of mental health and neurological conditions," said Michael Frank, CEO of the Company.

Seelos Therapeutics, Inc. (NASDAQ: SEEL), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, recently announced that it has been selected to present a poster on SLS-002 (Intranasal Racemic Ketamine) at the IASR/AFSP International Summit on Suicide Research Virtual Conference, October 24-27^th, 2021.

"We are highly encouraged by this open label data and are currently focused on the double-blind placebo-controlled portion of the study which began enrolling patients in July," said Raj Mehra, Ph.D., Chairman and CEO of Seelos. "We are grateful for this opportunity to present at this year's summit and excited to share these data plus some additional interim data from the open label study with the global community focused on the research and treatment of patients in this critically important field."

Numinus Wellness Inc. (OTCPK: LKYSF) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, recently announced it has closed its acquisition of the Neurology Centre of Toronto (NCT), a leading Canadian provider of clinical neurologic care. The purchase agreement was previously announced on July 6, 2021.

Founded in 2017 by Dr. Evan Lewis (MD), NCT will operate as the "Neurology Centre of Toronto by Numinus" and continue under Dr. Lewis' leadership. Dr. Lewis will assume the role of VP, Psychedelic Neurology Services at Numinus. The acquisition expands Numinus' presence into Ontario, in addition to an existing clinic and research facility in British Columbia, and clinics in Quebec.

COMPASS Pathways plc (NASDAQ: CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, recently announced that it has acquired an intellectual property (IP) portfolio including patent applications covering a variety of psychedelic and empathogenic substances. The IP was developed together with inventor Matthias Grill PhD, founder and CEO of MiHKAL GmbH in Basel, Switzerland, who will be working with COMPASS on an exclusive research project to develop new product candidates.

The substances covered in the IP portfolio include a variety of psychedelic and empathogenic compounds, some of which are prodrugs - pharmacologically inactive compounds which are metabolized inside the body to produce an active drug. The new substances include novel derivatives of known compounds, increasing the confidence in therapeutic effects and safety profile while offering optimized characteristics.

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