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PALM BEACH, Fla., April 22, 2021 /PRNewswire/ -- Global Psychedelic and Psilocybin Drugs market is growing rapidly due to the increasing number of depression cases and rising special designation from the regulatory authorities to the company to expedite the development process of medicines. Psychedelic Medicines also called as hallucinogenics, are a group of substances including chemicals, such as LSD, and plants that are used in the treatment of various mental disorders such as resistant depression, panic disorder, opiate addiction and more. These are used to change and enhance sensory perceptions, energy levels, thought process, and to facilitate spiritual experiences. Psychedelic Drugs have been used experimentally for psychological treatment to control the mind or maintain peace. 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 market for psychedelic drugs is projected to grow from just over $2 billion last year to about $6.9 billion by 2027, according to Data Bridge Market Research, which represents a blistering 16.3% compound annual growth rate over the forecast period." Active companies in the markets this week include: COMPASS Pathways plc (NASDAQ: CMPS), Silo Pharma, Inc. (OTCQB: SILO), Mind Medicine (MindMed) Inc. (OTCQB: MMEDF) (NEO: MMED), Numinus Wellness Inc. (OTCPK: LKYSF) (TSXV: NUMI), Mydecine Innovations Group (OTCPK: MYCOF) (NEO: MYCO),
Several reports agree that psychedelic drugs are becoming increasingly accepted in the treatment of major depressive disorder, treatment-resistant depression, panic disorder, post-traumatic stress disorder, opiate addiction, eating disorders, and fibromyalgia, among other things. A report from Roots Analysis noted that: "Depression is one of the most common chronic neurological conditions in modern society. It is estimated that over 250 million people, across all age groups, suffer from some form of depression, worldwide… In this context, it is worth highlighting that there is a growing body of clinical evidence supporting the therapeutic effect of psychedelic substances on psychiatric conditions, such as depressions. Experts in this field also believe that psychedelics, at appropriate doses, can be used to address some of the serious psychological implications of the current pandemic."
Silo Pharma, Inc. (OTCQB: SILO) BREAKING NEWS: Silo Pharma Announces Plans to Uplist to the NASDAQ - Silo Pharma, Inc., a developmental stage biopharmaceutical company focused on the use of psilocybin as a therapeutic, today announced that its Board of Directors has unanimously voted to uplist to the NASDAQ.
Eric Weisblum, CEO, stated "Silo Pharma is proud to announce that we intend to begin the application process to list on the NASDAQ exchange. Uplisting to The NASDAQ Capital Market is an important milestone at Silo Pharma as we continue to execute on our initiatives to build long term shareholder value. The prospective uplisting will increase our visibility in the marketplace as well as expand our institutional shareholder base."
The listing of the Company's common shares on a national exchange is subject to exchange approval and the ability of the Company to satisfy all applicable listing and regulatory requirements. While the Company intends to satisfy all of the applicable listing criteria, there is no assurance that a national exchange will approve the Company's application or that the Company will complete the listing as proposed.
About Silo Pharma - Silo Pharma. Inc. is a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as depression, PTSD, Parkinson's, and other rare neurological disorders. Silo's mission is to identify assets to license and fund the research which we believe will be transformative to the well-being of patients and the health care industry. For more information, visit www.silopharma.com.
FOR MORE INFORMATION ABOUT THE INDUSTRY AND SILO, PLEASE ALSO VISIT: https://psychedelicstox.com/2021/04/20/unique-double-play-biotech-company-offers-investors-true-upside-potential-in-the-psychedelic-space/
Other recent developments in the markets include:
Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, recently announced the next steps in its research and development process as it investigates the chemical compounds and potential therapeutic effects of natural psilocybin as well as the company's large library of synthetic novel compounds.
Following the receipt of the world's first international export of dried psilocybin mushrooms at Mydecine's Canadian Current Good Manufacturing Practice (cGMP) facility at API in Alberta, the Company has begun wide-ranging work to extract and characterize various compounds contained within the fruiting bodies of the dried psilocybin mushrooms. To date, Mydecine and API's analytical research has found what it believes to be multiple chemical entities not previously characterized within these species before. The Company will now begin the screening process to test the potential therapeutic effects of these entities against serotonin receptors such as HTR1A, HTR2A, HTR2B, HTR2C as well as a broad range of metabolism and absorption assays.
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 been granted two new patents by the US Patent and Trademark Office (USPTO). These patents cover oral formulations of COMPASS's synthetic psilocybin in the treatment of major depressive disorder (MDD), which includes treatment-resistant depression (TRD).
US Patent No 10,954,259 was granted on 23 March 2021, with claims to COMPASS's high-purity crystalline psilocybin (including the form used in its synthetic formulation, COMP360), pharmaceutical formulations containing crystalline psilocybin and methods of treating MDD with the crystalline psilocybin.
MindMed (NEO: MMED) (OTCQB: MMEDF) (DE: MMQ), a leading clinical-stage psychedelic medicine biotech company, recently announced the publication of the first study on MDMA dosing optimization using personalized medicine. The study took place at the University Hospital Basel Liechti Lab, in Basel, Switzerland. This study provides the first scientific data for predicting responses to MDMA and optimizing dosing. This may maximize the potential beneficial therapeutic effects while reducing adverse responses when treating medical conditions.
Key findings of the study suggest: The dose of MDMA can be optimized using predictors known before dosing including body weight, sex, age, genetics, personality trait measures, and mood before drug administration; The dose of MDMA per kg body weight of the treated person best predicted the MDMA concentrations in the body and also mainly determined the acute subjective response to MDMA; Additionally, genetic testing of the drug metabolizing enzyme CYP2D6 is useful to adjust the dose of MDMA; Persons with low levels of CYP2D6 activity have higher MDMA plasma concentrations and may experience greater subjective MDMA effects and may benefit from a moderate dose reduction; Persons with a greater personality trait of "openness to a new experience" showed greater feelings of closeness and positive drug effects acutely induced by MDMA; In contrast, persons with personality traits of increased neuroticism or anxiety were both more likely to experience fear of ego dissolution and losing control. Similarly, more feelings of anxiety and depression in a person just before MDMA administration predicted more anxiety after MDMA administration; Women and men showed comparable MDMA effects if differences in body weight are considered in the dosing of MDMA; Previous minimal MDMA use, defined as previously using MDMA up to five times, did not influence the MDMA effect; and In summary, personalizing MDMA dosing may help optimize the acute MDMA experience including more positive subjective effects of MDMA and reducing adverse effects of MDMA.
Numinus Wellness Inc. (TSXV: NUMI) is a mental health and wellness company creating solutions centered around the development and delivery of safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well. It is delivering treatments to address physical, mental, and emotional health, through clinics and virtual services and is developing clinical and therapeutic models of psychedelic-assisted psychotherapy delivery in collaboration with partners and health regulators, setting the stage for approved and regulated use in mental health care and is developing methods and formulas for psychedelic science. Health Canada licenses, scientific expertise, and new technologies facilitate internal research and third-party contract services for revenue generation.
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