Cannabis

Could psychedelic medicine be the new cannabis?

A few recent developments have signalled that certain new treatments based on psychedelic compounds are gaining popularity these days from investment community.

On Thursday, ATAI Life Sciences successfully secured about $43 million during one funding round. This makes the Berlin-based biotechnology firm the biggest firm in the investment community, at about $240 million.

ATAI funds clinical trials for the drugs that include psychedelic substances which could possibly be utilized to treat mental health ailments. This includes ketamine, which is often utilized for sedation and pain relief and psilocybin, which is an active ingredient found in the magic mushrooms.

Just like cannabis, psychedelic substances often have been defamed by the mainstream society due to their association with recreational use of drug.

However again, just like cannabis, there’s increasing evidence that these mind-altering substances may be utilized for treating several mental health disorders.

In fact, there also have been a few encouraging signals from law regulators on the utilization of the chemicals.

Though this might not be a prompt sign for the investors to incline towards the finance tap, but it does aid small biotechnology companies to firm their hold with regards to raising money because potential investors may think that regulatory law approval process could likely be expedited or simpler.

READ  Researchers unlock access to pain relief potential of cannabis

About the author

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Michelle Weinstein

Michelle has been a part of the journey ever since Digiherald started. As a strong learner and passionate writer, she jots down intellectual pieces from categories such as Cannabis and Sports.

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