PALM BEACH, Fla., April 14, 2021 /PRNewswire/ -- The psychedelics industry may appear to have suddenly emerged as one of the hottest corners of the stock market, but researchers have been working for decades to show the efficacy of these treatments and regulators are just starting to appreciate the possibilities. Investors could see strong growth in the industry as companies commercialize breakthrough therapeutics while patients could finally have access to life-changing treatments for a range of mental health conditions that have no effective treatment options today. A recent article by CFN Media Group focused on the newly born psychedelics industry in terms of both its revenue potential and the valuations that investors are assigning to companies in the space. Another article said: "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." The report authors note 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. Active companies in news today include: Minerco, Inc., Pure Extracts Technologies Corp. (OTCPK: PRXTF) (CSE: PULL), Revive Therapeutics Ltd. (CSE: RVV) (OTCPK: RVVTF), PharmaTher Inc. (CSE: PHRM) (OTCQB: PHRRF), Havn Life Sciences Inc. (CSE: HAVN) (OTCPK: HAVLF), Psyence Group Inc. (CSE: PSYG).
The CFN article then focused on the investors, saying that: "The growing body of research supporting psychedelics and more widespread acceptance has led to an explosion of investment in the sector. In addition to more that 25 public companies in the space, there are hundreds of privately held companies drawing investment dollars. Peter Thiel, a famous investor in Facebook and PayPal, became the industry's most high-profile investor in the space. Meanwhile, Compass Pathways plc has nearly doubled since its debut on the NASDAQ with a market capitalization of nearly $2 billion.
Minerco, Inc. "The Magic Mushroom Company" BREAKING NEWS - MINERCO RETAINS LOBBYING FIRM TO SUPPORT EFFORTS TO DECRIMINALIZE PSILOCYBIN IN DETROIT AND SURROUNDING AREAS - Minerco, Inc. (trading on the OTC Markets under the Symbol MINE) today announced that it has retained a lobbying firm to play an expanded role in the Company's lobbying efforts. The firm will be joining forces with Minerco's government relations staff to decriminalize psilocybin in Detroit, Michigan and surrounding areas. Ann Arbor, Michigan recently joined Denver, Colorado; Oakland, California, Santa Cruz, California; and Washington, D.C. as cities across the nation that have decriminalized naturally occurring psychedelics sometimes referred to as entheogenic plants and fungi. Oregon voters passed a ballot measure in November that will create a program for medicinal use of psilocybin.
The Company believes Michigan's ranking as the nation's second largest market for cannabis, after California, will be ripe for the introduction of psilocybin. After opening the state's first adult-use stores in December 2019, Michigan's cannabis industry saw sales increase month-over-month at a sharp incline. Recreational and medical sales combined for $35 million in revenue in January 2020; by July 2020, the state was recording nearly $110 million in combined monthly sales.
"This is a pivotal time for our movement and for the psilocybin industry," said Julius Jenge, Chief Executive Officer of Minerco, Inc. "The success of marijuana decriminalization and legalization efforts in the United States has provided a blueprint for proponents of other drugs that are currently regulated similarly in United States such as psilocybin. We are optimistic that voters across the nation will realize the medicinal benefits of psilocybin just as they did with cannabis and will join us in supporting nationwide reforms in the laws prohibiting the manufacturing and distribution of psilocybin and comparable drugs."
Recent studies of the effects of psilocybin suggest it can be used to treat a wide range of ailments from insomnia to depression. The Ann Arbor decriminalization resolution additionally cited benefits of using natural psychedelic compounds to break addiction to other drugs, such as opiates, heroin and methamphetamines.
The drugs specifically targeted by prior decriminalization efforts include: psilocybin, which is found in various strains of mushrooms; mescaline, found in San Pedro and peyote cacti; ibogaine, which comes from the iboga plant, an African shrub; and dimethyltryptamine, commonly referred to as DMT, from ayahuasca tea that is made with various South American plants. Read More About Minerco by visiting: https://www.minercoinc.com/
FOR ADDITIONAL INFORMATION ABOUT THE INDUSTRY AND MINERCO (MINE) PLEASE VISIT: https://psychedelicstox.com/2021/04/13/investor-alert-unique-triple-play-opportunity-now-unfolding-in-three-rapidly-growing-markets/
In other industry news of note:
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 positive results of a pre-clinical study evaluating the efficacy of psilocybin in the treatment of mild traumatic brain injury ("TBI") in a rodent model of TBI. The study was conducted at the National Health Research Institutes ("NHRI"), which was part of the psilocybin program acquired from PharmaTher Inc., a subsidiary of Newscope Capital Corporation (CSE: PHRM) (OTCQB: PHRRF).
The study characterized the potential neuroreparative effect of psilocybin compared to being treated with a vehicle (saline) using a TBI mouse model. Adult mice were randomly assigned to 4 groups: (1) control, (2) TBI+vehicle, (3) TBI+low dose psilocybin, and (4) high dose psilocybin. Cognitive function was examined by the Morris water maze test after the injury. It was found that psilocybin, given after injury, improved cognitive function in TBI mice. Also, there were no adverse effects observed with psilocybin.
With the its recent acquisition of the provisional patent application from PharmaTher Inc., titled, "Psilocybin in the Treatment of Neurological Brain Injury", and the positive research results with psilocybin in a TBI model, Revive has filed an international Patent Cooperation Treaty ("PCT") application (PCT/CA2021/050360) allowing it to seek protection of this invention in 153 countries, including the U.S., Europe, Canada, Japan and China.
Pure Extracts Technologies Corp. (CSE: PULL) (OTCPK: PRXTF) and Psyence Group Inc. (CSE: PSYG) recently announced the signing of a Letter of Intent ("LOI") to form a Joint Venture (the "JV") to develop superior techniques for the extraction of psilocybin from psychedelic mushrooms, as well as the development of advanced formulations containing psilocybin for the long-term treatment of psychological trauma and its mental health consequences.
Psyence is one of the world's first psychedelic mushroom companies operating a federally legal commercial cultivation and extraction facility in Southern Africa and possessing an experienced global team of doctors and scientists striving for breakthroughs in palliative care, neurology, neuroscience and drug development.
Havn Life Sciences Inc. (CSE: HAVN) (OTCPK: HAVLF),https://pr.report/RVQK9bAP a biotechnology company pursuing standardized extraction of psychoactive compounds and the development of natural healthcare products, recently announced, further to its news release dated January 26, 2021, that it has completed the acquisition of GCO Packaging and Manufacturing Ltd. ("GCO"), acquiring 100% of the outstanding shares of GCO (the "Acquisition") in exchange for an aggregate of 6,000,000 common shares of Havn Life (the "Consideration Shares"). GCO operates a large-scale manufacturing, packaging and distribution facility ("Facility").
The Acquisition is expected to enhance three key elements to Havn Life's retail strategy: Facilitate expanded product portfolio with strong revenue generation potential; Expand ability to enter new Natural Health Product ("NHP") categories; and Reduce third party manufacturing burden.
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