PALM BEACH, Florida, June 3, 2020 /PRNewswire/ -- The psychedelic drugs market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 16.3% in the forecast period of 2020 to 2027 and expected to reach USD 6,859.95 million by 2027 from USD 2,077.90 million in 2019. Growing acceptance of psychedelic drugs for treating depression and increasing prevalence of depression and mental disorders are the factors for the market growth. The report says: "… psychedelic drugs are used to enhance or change sensory perceptions, energy levels, thought processes, and to facilitate spiritual experiences. Psychedelic drugs can be categorized into dissociative drugs (such as PCP), empathogens and serotonergic (classic hallucinogens) (such as LSD). These drugs are used in the treatment of major depressive disorder, treatment-resistant depression, panic disorder, post-traumatic stress disorder, and opiate addiction among others." Mentioned in today's commentary include: Global Trac Solutions, Inc. (OTCPK: PSYC), Champignon Brands Inc. (OTCQB: SHRMF) (CSE: SHRM), The Yield Growth Corp. (OTCQB: BOSQF) (CSE: BOSS), Mind Medicine (MindMed) Inc. (OTCQB: MMEDF) (NEO: MMED), Mota Ventures Corp. (OTCPK: PEMTF) (CSE: MOTA).
The report continued: "Psychedelic drugs market has increased with increased number of psychedelic drugs as compared to the past few years and increasing prevalence of depression and mental disorders in the U.S… Growing acceptance of psychedelic drugs for treating depression is also increasing market value as the psychedelic drugs has repetitively proven its high rates of effectiveness for treatment for nicotine dependence, alcohol dependence, anxiety associated terminal illness and chronic PTSD as compared to other antidepressants. Currently, different research studies are taking place that are expected to provide a competitive advantage for new and innovative therapeutic manufacturers with competitive psychedelic drugs and methods to develop, define psychedelic drugs, and various other opportunities in the U.S. psychedelic market. "
Global Trac Solutions, Inc. (OTC Pink: PSYC) Breaking News: PSYC Attracts Hundreds of Subscribers For Their Monthly Newsletter Launch in June - Global Trac Solutions is pleased to announce that as part of the successful launch of its Psychedelic Spotlight website (www.psychedelicspotlight.com) last week, the Company has added hundreds of new email subscribers for the monthly newsletter, which will cover the company's insights on industry news, including medicinal research, cultural reform and investor updates to present the historic progress being made in this quickly evolving industry.
The first edition of the newsletter is scheduled for release this month, and the company is looking to continue to add to its growing subscriber base over the coming weeks. The intention of Psychedelic Spotlight is to create a communications platform to highlight the medical community's quest to successfully treat a wide range of mental health disorders that are currently affecting tens of millions around the globe with no existing treatment through traditional medicines.
Medicinal psychedelics have shown great promise through a number of studies conducted over the last fifteen years, but the scientific progress being made in new and current studies over the last two years (and even within the last few months) have accelerated exponentially. Psychedelics are gaining a respectful and highly inquisitive position in the scientific community, which is helping to destigmatize these substances from a societal perspective and creating unprecedented opportunities in public trading markets.
"Monumental studies being conducted at some of the most well respected research institutions around the world, such as Johns Hopkins, Yale, and Imperial College in London, are bringing psychedelics out of the shadows and exhibiting their therapeutic effect to successfully treat a number of intractable mental ailments suffered around the globe," said Vanessa Luna, CEO of Global Trac Solutions. "This noble work has an opportunity to heal tens of millions and change the course of humanity, which is often plagued as a result of these illnesses. By leveraging our website and our forthcoming newsletter and open source blog, we hope to create an important channel to share and distribute critical news and information on the importance of psychedelics as a tool to transform the way we think about the mind, mental health and human consciousness."
The Company encourages those who are interested in following the trends and growth associated with medicinal psychedelics to subscribe to the Psychedelic Spotlight newsletter by visiting www.psychedelicspotlight.com. Furthermore, the Company contends that is on schedule for the release and distribution of its debut monthly newsletter on or around June 15, 2020.
In other active company news in the markets this week:
Champignon Brands Inc. (OTCQB: SHRMF) (CSE: SHRM.CN) recently announced that certain shareholders have agreed to a voluntary resale restriction period covering 17,840,000 common shares extending the period of time before the shares become free trading to July 15, 2020. These shares were previously only subject to a statutory hold period.
The Company also announces that it has engaged Gold Standard Media, LLC ("GSM") to provide marketing and consulting services to raise public awareness of the Company, with a specific emphasis on the Company's North American clinical expansion. GSM is a limited liability company existing under the laws of the State of Texas with an office at 1102 S. Austin Ave, #110-283, Georgetown, Texas, USA.
The agreement (the "Digital Marketing Agreement") with GSM is for an initial term of two years effective May 28, 2020. The Digital Marketing Agreement has an aggregate cost of US$300,000 (the "Consideration"). To the Company's knowledge, GSM and its principals do not hold any securities of the Company. In addition, the Company has no plans to issue securities to GSM as whole or partial payment of the Consideration.
The Yield Growth Corp. (OTCQB: BOSQF) (CSE: BOSS.CN) recently announced that its majority owned subsidiary NeonMind has entered into an agreement entitled "CLINICAL TRIALS START-UP STUDY AGREEMENT" with Translational Life Sciences Inc. ("TLS") to initiate clinical trials to test certain potential therapeutic effects of psilocybin and other compounds in psychedelic mushrooms.
According to the terms of the engagement, signed on May 6, 2020, NeonMind and TLS shall work together to conduct the evaluation of psilocin or psilocybin on cravings, on the metabolism, on food addiction and on glucose and hormone levels. Neon authorizes TLS to perform activities required to prepare for and conduct the study and the parties shall work towards entering into a clinical study agreement. NeonMind shall pay for all costs related to the study and TLS shall arrange for prior approval by Health Canada, and engagement of all necessary parties to conduct the study.
Mind Medicine (MindMed) Inc. (OTCQB: MMEDF) (NEO: MMED) announced it is expanding its Phase 2a clinical trial of LSD microdosing for Adult ADHD. MindMed is the leading neuro-pharmaceutical company for psychedelic inspired medicines and as part of its expanding slate of research and clinical trials, will add an additional clinical trial site and Principal Investigator at the University Hospital Basel in Basel, Switzerland , the birthplace of LSD for its Phase 2a clinical trial of LSD microdosing.
MindMed's microdosing division is pioneering the clinical development of consuming very low, sub-hallucinogenic doses of psychedelic substances. The company intends to continue building its microdosing division into a global leader for microdosing psychedelics and expand a diverse R&D pipeline of sub-hallucinogenic doses of psychedelics to treat various mental health issues including Adult ADHD.
Mota Ventures Corp. (OTCPK: PEMTF) (CSE: MOTA:.CN) recently announced the completion of its' Cdn$20,000,000 acquisition (the "Transaction") of all of the outstanding share capital of Verrian Ontario Ltd. ("Verrian") effective June 1, 2020. Verrian is an established and well advanced European psychedelic medicine company that is focused on delivering and developing products related to addiction reduction, with a focus on alcohol and opiates.
Ryan Hoggan, CEO of the Company stated, "The massive shift towards psychedelic derived medicines is no longer in doubt and this acquisition sends a strong signal to the market that Mota Ventures intends to be a serious participant this coming decade. Unlike some companies that use psychedelics as a marketing term, this acquisition of Verrian brings Mota market ready products, world renowned addiction medicine experts, R&D facilities and a 110,000 square foot facility to make it happen. In my opinion this is the most complete psychedelic asset on the market, and therefore should immediately make Mota a market leader in the space."
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