PALM BEACH, Fla., Sept. 15, 2020 /PRNewswire/ -- Investors are seeing big opportunity in psychedelics based upon the numbers that the nascent cannabis industry has been putting up… after all, last year, worldwide sales of legal cannabis re-accelerated in 2019, growing nearly 46% to almost $15 billion. By 2024, that number is expected to triple. Not too bad for an industry that, less than a decade ago, was entirely illegal almost everywhere on the planet and is still outlawed in the vast majority of countries. Several countries and many states are making big shifts in drug policy and research regarding psilocybin and many investors are excited about the upcoming wave of decriminalization akin to that of what we are seeing in Cannabis. The enormous potential of medicines like ketamine, psilocybin and MDMA to treat mental health has some whispering that psychedelics are the next billion dollar industry. They probably aren't wrong: in 2019, Americans spent $225 billion on mental health services, according to the German statistics database Statista. Treating anxiety or depression can equal bank for some. Mentioned in today's commentary include: Sorrento Therapeutics, Inc. (NASDAQ: SRNE), Global Trac Solutions, Inc. (OTCPK: PSYC), Champignon Brands Inc. (OTCQB: SHRMF) (CSE: SHRM), Mind Medicine (MindMed) Inc. (OTCQB: MMEDF) (NEO: MMED), Revive Therapeutics Ltd. (CSE: RVV) (OTCPK: RVVTF).
Many investors are wondering what the next immense profit opportunity is going to come from triggering a round of new startups dedicated to psychedelic medicine, going public as there has been so much money made in Cannabis stocks. There are grassroots efforts to overturn psychedelic prohibition. In less than a year, three U.S. cities have decriminalized plant and/or fungi-based psychedelics, while California could decriminalize access to psilocybin at the ballot this November. The U.S. Food and Drug Administration sees extreme promise in psilocybin therapy, granting the drug "breakthrough" therapy status not once, but twice last fall. An article from Stockhouse added: "The State of Denver voted in May to decriminalize the fungus that contains psilocybin, a psychedelic compound. Oakland, Calif., followed Denver several weeks later and Oregon is trying to get a similar measure on the ballot for 2020. Industry experts see mushrooms having untapped medical potential that could be as big as Cannabis especially considering the clinical studies showing the mushrooms effects on people struggling with depression and post-traumatic stress disorder.
Global Trac Solutions, Inc. (OTC Pink: PSYC) Breaking News: PSYC's September Newsletter Reflects Most Riveting Edition to Date and Highlights Industry Growth - Global Trac Solutions is pleased to announce that as a result of the Company's success with expanding its network within the emerging industry of medicinal psychedelics, it has effectively constructed what the Company believes to be its most compelling and dynamic newsletter to date, and further demonstrating PSYC's continued emergence as a digital media leader within this fascinating sector.
Released this morning to its growing base of subscribers, the first of its two September editions of Microdose Monthly showcases exclusive interviews with retired National Hockey League enforcer, Riley Cote, Paul F. Austin, CEO and Founder of The Third Wave, and a follow-up interview with Ronan Levy, Founder and Executive Chairman of Field Trip Health, each of which were conducted by PSYC CEO, David Flores. Also featured in the newsletter are stimulating articles written by Psychedelic Spotlight Content Director, Kent Sligh, and other content contributors whom PSYC has partnered with to cover industry-relevant subject matter.
Said Global Trac Solutions, Inc. CEO, David Flores: "I truly believe that the quality of content we have been able to include in this edition of our Microdose Monthly newsletter is a reflection of the hard-work and dedication my team and I have been focused on with expanding our network and identity within the psychedelic industry. We are positively determined to establish Psychedelic Spotlight as not just a recognized brand, but a reputable source within this space that, through the engaging and knowledgeable information we develop and share, contributes to its ongoing progress and momentum. Connecting with other thought-leaders and passionate advocates within this space is, in my opinion, a critical component to our own internal growth and development. More specifically, expanding our network and establishing new connections may, in some instances, be an effective tool for exploring and identifying potential collaborative opportunities as well as other fascinating opportunities that may contribute to our growth from a monetization perspective. Fostering our development as a digital media leader in this industry is most certainly a core focus of mine currently. However, my long-term goals are far more ambitious, and I am very encouraged with the progress and direction we are moving in."
As the Company continues its efforts of expanding its development of exclusive industry-focused content, it encourages those who have not yet subscribed to Microdose Monthly to do so by visiting https://www.psychedelicspotlight.com/
In other active company news in the markets this week:
Mind Medicine Inc. (NEO: MMED) (OTCQB: MMEDF), the leading neuro-pharmaceutical company for psychedelic inspired medicines and the University Hospital Basel's Liechti Lab are now combining MDMA and LSD in a groundbreaking Phase 1 clinical trial. The Phase 1 MDMA-LSD trial is scheduled to start in Q4 of this year in Basel, Switzerland.
Combined MDMA-LSD treatments have the potential to create next-generation psychedelic assisted therapy paradigms. When added to a psychedelic assisted therapy session, MDMA has the potential to reduce some known rare negative side effects that may occur while using LSD or other classic psychedelics on their own. It has been shown that classic psychedelics such as psilocybin and LSD can sometimes induce short-term unpleasant effects for patients during a psychedelic assisted therapy session. These symptoms may include negative thoughts, rumination, panic and paranoia.
Sorrento Therapeutics, Inc. (NASDAQ: SRNE) recently announced it has entered into an exclusive license agreement with Mayo Clinic for a potential breakthrough technology platform that is capable of generating a great diversity of stable antibody-drug-nanoparticle albumin-bound (nab) immune complexes (ADNICs) targeting many types of human diseases including various solid and liquid tumors. The ADNIC is the next generation in antibody drug conjugate (ADC) technology that potentially addresses limitations of current ADC technology, such as complex manufacturing processes (e.g., antibody-chemotherapy linkers), which can affect drug half-life, stability and tumor accessibility, and result in high cost of goods (COGs). The ADNIC platform is currently generating clinical data at Mayo Clinic through clinical trials with multiple investigational products in a variety of cancers including ovarian, endometrial, and multiple lymphoma sub-types. These trials will continue and are expected to be expanded.
The ADNIC technology potentially eliminates the need to use covalent linker technology by incorporating therapeutically or immunologically active antibodies in a reversible manner with a nanoparticle composed of albumin and a payload of one or more drugs.
Champignon Brands Inc. (CSE: SHRM) (OTCQB: SHRMF) recently announced that it is expanding its rapid-onset treatment service for major depressive disorder ("MDD"). Champignon will offer esketamine for the treatment of adults with MDD at its flagship clinic starting in September 2020. Ketamine was declared a breakthrough treatment for depression by the US Food and Drug Administration ("FDA"). In May 2020, Health Canada approved esketamine for the treatment of MDD.
Champignon's clinic, the Canadian Rapid Treatment Centre of Excellence (the "CRTCE") is Canada's first multidisciplinary community clinic offering rapid-onset treatments for depression and is expected to be the first of its kind to provide this novel treatment for depression in Canada. The CRTCE is located in Mississauga, Ontario.
Revive Therapeutics Ltd. (CSE: RVV) (OTCPK: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, recently announced that the Company has entered into a Clinical Trial Agreement (CTA), dated August 28, 2020, with the Board of Regents of the University of Wisconsin System (UWS) to conduct a clinical study entitled, "Phase I Study of the Safety and Feasibility of Psilocybin in Adults with Methamphetamine Use Disorder." Under the terms of the CTA, the Company has an exclusive option to obtain an exclusive, worldwide, royalty-bearing commercialization license to all rights, title and interest that UWS may have or obtain in any invention that results from the clinical study.
"We are delighted to be collaborating with clinical researchers at the University of Wisconsin‒Madison to advance development of psilocybin for the potential treatment of methamphetamine use disorder," said Michael Frank, Revive's Chief Executive Officer. "We are building a pipeline of clinical-stage psychedelic-derived therapies for addiction disorders with a focus on psilocybin with unique dosage forms."
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