Independent data-driven reporting, analysis and commentary on the psychedelics space: from business and drug development through to policy reform and culture.
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A recap of our discussion at SXSW 2025, which featured Graham Pechenik, Shayla Love, Jane Hu, and Josh Hardman and explored the changing face of psychedelic companies, the role of journalism in the field, predictions for the next five years, and much more.
Psychedelic Alpha’s Josh Hardman sits down with Sunstone Therapies co-founders Manish Agrawal and Kim Roddy to tease out their learnings from delivering hundreds of psychedelic therapy sessions at their purpose-designed facility.
‘Europe’s Most Feared Investor’ Teams Up with Musk Associate to Fund Lykos Therapeutics • Risk-Off or Reality Check? Psychedelic Stocks Slump After RFK Jr. Surge • Beckley Wraps Enrolment for Phase 2b Study of 5-MeO-DMT in Treatment-Resistant Depression • PATH Caucus RFI Submissions Roll In • Australian VA Mulls Funding Psychedelic Therapy • First Sponsored LSD Trial in the UK • and more…
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Whether you’re at the idea-formation stage or raising early-stage funding, we’re here to help across the entire psychedelic value chain and company life-cycle.
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We help investors and corporates of all stripes understand and support the psychedelics space: from syndicates and VCs through to institutions.
INSIGHTS & ANALYSIS
Join our newsletter to stay abreast of the rapidly emergent psychedelics industry: from clinical trials and patents through to healing centres and decriminalisation.
After a half-century of prohibition, psychedelics are once again entering the mainstream.
Today’s so-called “psychedelic renaissance” is represented by a seemingly exponential increase in research and development activity, billions of dollars of funding, psychedelic policy reform initiatives and successes across the world, and changing public perceptions. ∎
Clinical trials involving psychedelics started, per year
Phase 3 trials of MDMA-assisted therapy have been completed, with Phase 3 study of psilocybin underway.
Psychedelic policy reforms are gaining pace at the federal, state and local level in the U.S. and internationally.
of psychiatrists agreed that psychedelics show promise in treating psychiatric disorders.
Barnett et al., 2023
‘Alpha’, in the investing world, refers to an excess return on investment relative to a benchmark. But we broaden the definition of alpha on both ends to include more than just economic returns on more than just economic investments.
Instead, we conceptualise alpha as the excess return on myriad investments that people may make in the present and future of psychedelics: beyond economic capital, people might invest time, energy, and effort, for example. And that excess return might not be (purely) financial, it might also be realised through a more impactful treatment paradigm for mental health, for example, where the ‘benchmark’ is the inadequate status quo.
All this to say, we’re not only for investors. In fact, most of our readers aren’t: many of them are practitioners, regulators, entrepreneurs, and so on. ∎
Psychedelic Alpha is an independent newsletter and community that strives to empower a diverse constellation of individuals and organisations with the knowledge, network and nuance to make an impact within the field of psychedelic medicine and beyond
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