Psychedelic Sector Overview
Opening Remarks
This overview seeks to map out the rapidly expanding psychedelic sector landscape via a focus on different stages of the value chain, and a variety of specialisms. Clicking on a company logo will present a brief summary of the company’s activity.
This page is updated frequently, with companies being added as-and-when they exhibit substantial activity in a given segment. Your comments and suggestions are welcome and can be directed to industry@psychedelicalpha.com.
Important: for simplicity of presentation, we have categorised companies according to their primary value chain location. Of course, many companies operate across various categories: especially platform companies like atai Life Sciences. If you’re interested in accessing our proprietary dataset—which includes ancillary value chain locations and drug development information for the companies listed below, as well as others—please contact us.
Industry Segments
Drug Discovery & Development
Companies engaged in drug discovery (identifying suitable molecules that have therapeutic potential for improving certain diseases) and/or development (the process of bringing a new drug to market).
Public Companies
atai Life Sciences
atai is a global biotechnology ‘company builder’, seeking to acquire and develop mental health treatments. With tentacles in Berlin, New York and Amsterdam, atai has raised large amounts of backing to finance research and development of new psychiatric medicines and related technologies. atai Life Sciences also owns a significant stake in Compass Pathways, after investing in their Series A round.
atai presents one of the most unique platform business models in the sector. The company first works to identify promising technologies and drug treatment programs. atai then acquires varying degrees of interest in development programs and provides financial and advisory support to spur their growth.
Companies under atai are developing both psychedelic and non-psychedelic drug candidates targeting a wide array of psychiatric treatment indications. Compounds include classical psychedelic drugs, novel derivatives, and repurposed drugs with prior clinical evidence.
atai went public in June of 2021. The company’s NASDAQ IPO generated over USD $225 million in proceeds, adding to atai’s already sizable cash reserves. atai continues to finance and expand its network of pharmaceutical and ‘enabling technology’ development programs. The company is currently supporting several pre-clinical, Phase I, and Phase II trials for indications that include treatment-resistant depression (TRD), generalized anxiety disorder (GAD), mild-traumatic brain injury (mTBI), opioid use disorder (OUD), and post-traumatic stress disorder (PTSD).
atai Drug Development Programs
- Perception Neuroscience (PCN-101/R-Ketamine - TRD Program)
- Recognify Life Sciences (RL-007 - CIAS Program)
- DemeRx IB (DMT-1002/Ibogaine - OUD Program)
- GABA Therapeutics (GRX-917/Deuterated Etifoxine - GAD Program)
- Kures (KUR-101/Deuterated Mitragynine - OUD Program)
- EmpathBio (EMP-01/MDMA Derivative - PTSD Program)
- Revixia Life Sciences (RLS-01/Salvinorin A - TRD Program)
- Neuronasal (NN-101/N-Acetylcysteine - mTBI Program)
- Viridia Life Sciences (VLS-01/DMT - TRD Program)
Note: only one lead candidate for each program is listed above.
atai Enabling Technologies
- Introspect (Digital Therapeutics Program)
- EntheogeniX (Drug Discovery Program)
- InnarisBio (Sol-gel Drug Delivery Program)
- PsyProtix (Precision Psychiatry Program)
- IntelGenX (Partnered for Sublingual Drug Delivery Technology)
COMPASS Pathways
UK-based COMPASS Pathways is a sector-leading company focused on developing psilocybin-assisted psychotherapies for a number of high-burden mental health disorders.
COMPASS has recently concluded a Phase IIb clinical trial studying the use of COMP360, its proprietary psilocybin formulation, alongside psychological support to tackle treatment-resistant depression (TRD): read our analysis of the topline results here. The company hopes to move into Phase 3 in 2022. Subsequently, the company has initiated another Phase II trial studying COMP360 for the treatment of post-traumatic stress disorder (PTSD).
COMPASS IPOd Friday 18th September, 2020, on the Nasdaq. The company has some well-known investors, including PayPal co-founder Peter Thiel and ATAI Life Sciences. In 2018, the US Food and Drug Administration (FDA) granted COMPASS Pathways breakthrough therapy designation (BTD) for their research into the use of psilocybin therapy for treatment-resistant depression. This allows the Company to accelerate the (usually very slow) development and review of their drugs. Typically, such a designation is only approved where early evidence suggests the drug in question could pose a significant improvement versus currently-available therapy.
COMPASS has conducted, and is conducting, a range of registered clinical trials across the world. The proprietary COMP360 formulation was also used in an investigator-initiated trial conducted at Imperial College London that compared psilocybin with escitalopram, an SSRI, for the treatment of depression.
Additionally, COMPASS has expanded its drug pipeline to include novel psychedelic compounds.
MindMed
MindMed is a psychedelic medicine and technology company focused on targeting a wide range of psychiatric and somatic disorders. At launch, MindMed’s pipeline featured the two flagship drug candidates 18-MC (an ibogaine derivative) and LSD. MindMed has since expanded this portfolio to include R(-)-MDMA, DMT, Psilocybin, Mescaline and a catalogue of undisclosed novel compounds.
The Company has a number of trials underway, on which it generally collaborates with University Hospital Basel’s Liechti Lab. These trials are targeting indications such as generalized anxiety disorder (GAD), opioid-use disorder (OUD), major depressive disorder (MDD), adult attention deficit disorder (ADHD), cluster headaches, and pain-related ailments. One of the company's new development programs is looking to leverage R(-)-MDMA to treat social anxiety and impairment in social functioning in patients with diagnoses such as Autism Spectrum Disorder.
In February 2021, MindMed acquired the digital medicine company Health Mode to build out its Albert technology division. Since then, MindMed has engaged in a number of different collaborative ventures to develop new technologies related to drug delivery, personalized medicine, and patient monitoring.
Mind Medicine completed its long-anticipated NASDAQ uplisting in late-April 2021. The company is now nearing completion of a Phase IIa trial studying LSD for the treatment of generalized anxiety disorder (GAD). Those top line efficacy results are expected to be disclosed near the end of 2021 or early 2022.
Cybin
Cybin is a Canadian biopharmaceutical company focused on developing classical and novel psychedelic compounds for a range of psychiatric indications.
In December 2020 Cybin acquired Adelia Therapeutics, a company working to identify and develop novel psychedelic drugs. This acquisition has since allowed Cybin to build a large catalogue of over 50 proprietary candidates, some of which it plans to advance further into clinical trials. The company has recently been granted a DEA Schedule 1 Manufacturing License, allowing it to increase independent research & development capabilities.
Cybin has four ongoing psychedelic development programs targeting major depressive disorder (MDD), alcohol use disorder (AUD), generalized anxiety disorder (GAD), social anxiety disorder (SAD), and treatment-resistant psychiatric disorders (TRPDs). Cybin has been authorized to advance its lead drug candidate CYB001, a sublingual psilocybin formulation, into Phase II clinical trials. The company continues to advance its other CYB003, CYB004, and CYB005 drug candidates through pre-clinical and Phase I trials.
Cybin has engaged in a number of strategic partnerships since its inception. The company is working with IntelGenX and Catalent to leverage unique drug delivery technologies for its CYB001 and CYB003 drug candidates. Additionally, Cybin partnered with Kernel, a technology company, to integrate real-time brain imaging into its clinical trials. Using non-ionizing energy in the form of near-infrared light, Kernel Flow measures cerebral hemodynamics to construct a functional map of brain activity.
Small Pharma
Small Pharma is a UK-based pharmaceutical company working to develop mental health treatments using both psychedelic and non-psychedelic compounds. The company’s drug pipeline features three DMT-related candidates (SPL026, SPL028, and SPL029) and one oral ketamine metabolite (SPL801B).
After completing its Phase I trial, Small Pharma has begun recruitment for its Phase IIa trial studying its SPL026 lead drug candidate as a treatment for major depressive disorder (MDD). The development program studying SPL026, an injectable DMT formulation, was recently granted an Innovation Passport Designation by the UK Medicines and Healthcare products Regulatory Agency (see our Bulletin for more). This designation will allow Small Pharma to accelerate the development of its lead drug candidate.
Small Pharma anticipates the initiation of a Phase IIb trial for SPL026 in late 2022, and continues to advance its other drug candidates through preclinical studies.
Bright Minds Biosciences
Bright Minds Biosciences is a drug development company focused on discovering new compounds targeting specific serotonin receptors in the brain. Bright Minds anticipates that, compared to classical psychedelic compounds, the development of second-generation serotonergic drugs will allow for more precise and personalized treatments.
Bright Minds’ drug development pipeline includes several selective serotonin agonists presently being investigated through preclinical studies. The company is developing novel treatments for indications such as pain, depression, opioid use disorder, binge eating disorders, alzheimers, post-traumatic stress disorders, and epileptic disorders.
Bright Minds anticipates initiating in-human clinical trials starting in 2022. These early trials will study the company's lead drug candidate, BMB-101, as a potential treatment for drug-resistant epilepsy (Dravet Syndrome).
On November 8, 2021, Bright Minds began trading on the NASDAQ, following its June 2021 listing application announcements.
Mydecine Innovations Group
Mydecine Innovations Group is a publicly-traded company developing classical and novel psychedelic-based treatments for mental health indications and well-being. To complement its drug development efforts, Mydecine has been working to leverage different therapeutic and drug discovery technologies.
Mydecine has announced two near-term Phase II clinical trials studying its MYCO-001 lead drug candidate (psilocybin), in the treatment of post-traumatic stress disorder (PTSD) and nicotine use disorder (NUD). The company has partnered with several academic institutions in Canada and the United States to conduct their investigations and intends to initiate both trials during the 2022 calendar year.
In addition to Mydecine’s main drug development efforts, the company is conducting and co-sponsoring studies on psychedelic microdosing in the United Kingdom and Australia. Mydecine is also conducting a preclinical trial on their MYCO-003 drug candidate and has recently announced a successful synthesis of improved novel psychedelic compounds. The company also currently offers a virtual therapeutic technology platform through its Mindleap subsidiary.
Revive Therapeutics
Revive Therapeutics is a Canadian life sciences company working to develop a variety of treatments for rare and infectious disease indications. Revive’s non-psychedelic and psychedelic drug development programs currently operate through its two wholly-owned subsidiaries, Revive Therapeutics Ltd. and Psilocin Pharma Corp.
Through its March 2020 acquisition of Psilocin Pharma Corp, Revive’s drug pipeline was expanded to include several different psilocybin formulations. The company intends to develop treatments for indications such as methamphetamine use disorder (MUD), traumatic brain injury (TBI), depressive disorders, and anxiety disorders.
In addition to its psychedelic focus, Revive is currently conducting a Phase III clinical trial of Bucillamine, a non-psychedelic antirheumatic drug, for treating COVID-19 infections. Finally, is working to advance cannabidiol drug candidates as treatments for liver diseases. The FDA granted orphan drug designation to Revive’s CBD program for the treatment of autoimmune hepatitis.
GH Research
GH Research is a publicly-traded biotechnology company focused on developing psychedelic-based treatments for psychiatric indications. The company, which began trading on the NASDAQ in late June of 2021, raised $167.7 million through its IPO after a $125m Series B financing. GH research will use this financing to advance its lead drug candidates further through clinical trials.
The company’s drug pipeline features two 5-MeO-DMT compounds. GH001, an inhalable formulation of 5-MeO-DMT, is being studied through a Phase II clinical trial, as a potential therapy for treatment-resistant depression (TRD). The company’s injectable 5-MeO-DMT candidate, GH002, continues to be investigated through preclinical studies.
Seelos Therapeutics
Seelos Therapeutics is a US biopharmaceutical company working to develop treatments for high-burden central nervous system (CNS) disorders. Seelos’ main development pipeline is made up of one ketamine-based drug candidate (SLS-002) and three non-psychedelic treatment programs (SLS-004, SLS-005, & SLS-007).
Following the completion of a Phase II proof-of-concept study, Seelos has announced the initiation of a second Phase II trial for its SLS-002 intranasal racemic ketamine candidate. SLS-002 is being investigated as a treatment for suicidal ideation and behaviour in patients suffering from major depressive disorder (MDD).
The company’s SLS-004 and SLS-007 programs are preclinical gene therapies it anticipates will be used as treatments for Parkinson's Disease. SLS-005 is the company’s IV Trehalose development program targeting different CNS disorders. Seelos recently announced that SLS-005 had been granted Fast Track Designation by the FDA for the treatment of Spinocerebellar Ataxia. The company anticipates initiating a Phase IIb trial for its SLS-005 drug candidate soon.
Incannex Health
Incannex is an Australian drug development company leveraging cannabinoids and psychedelics to create treatments for an array of indications. The company, currently traded on the Australian Securities Exchange (ASX) has recently announced that it is pursuing a listing on the NASDAQ.
The company's drug pipeline features three novel cannabinoid combination treatment programs and one psilocybin-assisted psychotherapy program. Incannex is focused on studying psilocybin-assisted psychotherapy as a treatment for generalized anxiety disorder (GAD). The company recently announced that it had received ethics approval from the Monash University Human Research Ethics Committee to conduct a Phase II clinical trial for its psilocybin-GAD program. Incannex anticipates initiating this clinical trial in partnership with Monash University in early 2022.
Incannex is also working to develop a number of treatments using its IHL-675A, IHL-216A, and IHL-42x cannabinoid drug candidates. Treatment indications include rheumatoid arthritis, inflammatory diseases, brain injury, and sleep apnea.
Reunion Neuroscience
Reunion Neuroscience (formerly Field Trip Discovery) is a publicly-traded biotechnology company working to develop new psychedelic therapies. Reunion was formed following an August 2022 corporate reorganization, resulting in Field Trip separating its clinic and drug development divisions into two independent organizations.
In 2021, Reunion’s lead drug candidate RE-104 was revealed to be a prodrug of 4-HO-DiPT. The company is developing RE-104 as a treatment for TRD and postpartum depression. Reunion is also working to discover and investigate a series of other undisclosed compound candidates that could have improved safety and tolerability profiles.
Lobe Sciences
Lobe Sciences is a company focused on developing novel combination drug therapies using psychedelic and non-psychedelic drugs. The company is currently focused on treating mild-traumatic brain injury (mTBI) and post-traumatic stress disorder (PTSD). Lobe has engaged several partners to develop adjunct technologies and to improve the delivery of future therapies.
Lobe is working towards initiating a Phase I clinical trial studying its proprietary psilocybin-N-acetylcysteine combination therapy. Lobe has been collaborating with the University of Miami Miller School of Medicine to conduct phase I-enabling preclinical studies on the NAC-psilocybin candidate.
Additionally, Lobe has developed a proprietary nasal drug delivery technology it intends to leverage for upcoming clinical trials and future therapies.
Nova Mentis Life Science
Nova Mentis Life Science is a publicly-traded biotechnology company focused on developing psilocybin treatments for a variety of indications. Through its wholly-owned subsidiaries, Nova Mentis BioTech and Pilz BioScience, the company is working to target obesity, diabetes, liver disease, and indications related to autism spectrum disorder (ASD).
Nova Mentis continues to study its proprietary PLZ-1013 psilocybin drug candidate through preclinical investigations. The company recently announced the FDA has approved its Orphan Drug Designation application related to development of its PLZ-1013 program for the treatment of Fragile X Syndrome (an inherited cause of ASD). This program has now been granted Orphan Drug Designation in both the United States and in Europe.
Algernon Pharmaceuticals
Algernon Pharmaceuticals is a Canadian drug development company working to repurpose drugs for use in the treatment of new indications. Algernon’s current focus is on developing potential treatments for stroke, chronic cough, COVID-19, and idiopathic pulmonary fibrosis. The majority of the company’s drug pipeline consists of non-psychedelic drugs that Algernon has been working to retool.
Despite its predominantly non-psychedelic focus, Algernon is working to develop DMT into a treatment for stroke. AP-188, Algernon's DMT drug candidate, is an intravenous formulation of the tryptamine that the company anticipates will promote brain healing following a stroke. Preclinical studies have allowed Algernon to confirm DMT’s positive effects on neuroplasticity and neurogenesis, even at sub-perceptual doses. The company has also identified an optimum treatment period of 6 hours.
BetterLife Pharma
BetterLife Pharma is a publicly-traded company focused on developing novel psychedelic and non-psychedelic compounds as treatments for a range of different psychiatric and somatic indications.
The company’s TD-0148A drug candidate is a non-hallucinogenic LSD derivative that it intends to advance as a treatment for major depressive disorder (MDD). Additionally, BetterLife is working to advance three other non-psychedelic drug candidates as treatments for benzodiazepine dependency, COVID-19 infections, and HPV.
To complement its various drug programs, BetterLife is working to leverage its BiPhasix™ liposomal drug delivery platform to develop a number of advanced delivery technologies for future therapies.
Mindset Pharma
Mindset Pharma is a publicly-traded early-stage drug discovery company working to create a catalogue of proprietary novel psychedelic compounds. Mindset is predominantly focused on identifying novel psilocybin and DMT-inspired molecules. In addition to its drug discovery efforts, Mindset has developed a unique drug synthesis process that it anticipates will allow for a more cost-effective production of cGMP psilocybin.
Through its drug development platform, Mindset has identified 4 families of drug candidates that it believes could be used in future mental health therapies. The company leverages external organizations to synthesize its proprietary compounds and conduct preclinical trials. Mindset anticipates that by early 2023, lead candidates from its four drug families will advance into Phase I clinical trials. The company has recently announced treatment-resistant depression (TRD) as the main target indication for its MSP-1014 novel psilocybin-based lead drug candidate.
Enveric Biosciences
Enveric Biosciences is a publicly-traded biotechnology company predominantly focused on leveraging cannabinoids as treatments for cancer and oncology treatment-caused indications. The company’s lead preclinical CBD combination drug candidates are being investigated as treatments for radiation dermatitis and glioblastoma multiforme (GBM). Enveric has announced that it intends to initiate a Phase I trial in late 2021, studying its EV101 CBD combination therapy candidate in the treatment of GBM.
Through Enveric’s September 2021 MagicMed acquisition, the company has expanded its drug pipeline to include an extensive library (Psybrary™) of patented novel psychedelic molecules. The company recently announced that it has identified several promising novel candidates from its Psybrary™. Enveric intends to develop novel psychedelic compounds into therapies for indications such as cancer-related stress and post-traumatic stress disorder (PTSD).
Entheon Biomedical
Entheon Biomedical is a biotechnology company focused on developing proprietary DMT formulations into treatments for several substance use disorders. The company is currently conducting preclinical toxicology studies on intravenous (IV) DMT, and anticipates initiating an IV DMT Phase I trial in early 2022. While Entheon intends to develop treatments for a wide range of substance use disorders, the company's first target indication will be nicotine use disorder.
Entheon is also working to develop different technologies for drug delivery, patient monitoring, and patient safety. Additionally, Entheon offers genetic tests, and hopes to develop virtual pre-screening platforms, to assess individual risks of psychedelic drug use.
Clearmind Medicine
Clearmind Medicine is a biotechnology company focused on discovering and developing novel psychedelic drug candidates into psychiatric treatments. The company’s drug pipeline consists of novel compounds including its lead psychoactive candidate, 5-Methoxy-2-aminoindane (MEAI).
Clearmind Medicine is predominantly focused on developing treatments for alcohol use disorder (AUD) and eating disorders. However, the company has published that it is investigating treatments for other indications such as depression, anxiety, and dyskinesia. Clearmind Medicine continues to conduct phase I-enabling preclinical studies on its lead drug candidates.
MYND Life Science
MYND Life Science is a publicly-traded biotechnology company focused on developing psychedelic-based and non-psychedelic treatments.
MYND’s drug pipeline currently consists of its preclinical MYND-778 and MYND-604 psilocybin analogues. MYND intends to target major depressive disorder (MDD) using its MYND-604 candidate and sepsis using MYND-778. In addition to its drug development efforts, the company has also announced the formation of a new division focused on creating biomarker diagnostic technologies.
PharmaTher
PharmaTher is a publicly-traded biotechnology company working to develop psychedelic treatments of several neurologic, pain, and mental health indications. PharmaTher’s current drug development pipeline includes ketamine and a novel combination therapy using ketamine and betaine (KETABET™).
The company has been authorized to proceed with a Phase II trial of ketamine in the treatment of dyskinesia (involuntary movements) resulting from levodopa treatments in patients with Parkinson's. PharmaTher has been granted orphan drug designation for its development program focused on treating amyotrophic lateral sclerosis (ALS) using ketamine. The company anticipates targeting depressive disorders using its proprietary KETABET™ formulation.
To complement its drug development efforts, PharmaTher is working with partners to commercialize novel drug delivery methods for ketamine and other psychedelic therapies. The company is focused on two microneedle delivery systems and continues to sponsor their development.
Tryp Therapeutics
Tryp Therapeutics is a pharmaceutical company focused on treating orphan and high burden diseases with unmet medical needs. Tryp is working to develop viable psychedelic drug treatments for several indications related to chronic pain and eating disorders. Tryp’s flagship Psilocybin-for-Neuropsychiatric Disorders (PFN™ ) Program is focused on treating neuropsychiatric disorders using synthetic formulations of psilocybin.
Tryp is also working to advance a non-psychedelic drug candidate alongside its PFN™ program. The company has previously announced that it will be investigating Razoxane as a treatment for soft tissue sarcomas; a type of cancer that begins inside of tissues such as muscle or fat.
Tryp intends to leverage existing third-party preclinical and clinical data to expedite their drug development programs. This is possible under the FDA’s Section 505(b)(2) pathway, which allows for the submission of New Drug Applications (NDA) that rely in part on third-party investigations.
Wesana Health
Wesana is a US life sciences company working to develop psychedelic-based treatments for psychiatric and neurodegenerative disorders.
Founded by Daniel Carcillo, a former professional hockey player, Wesana has been predominantly focused on leveraging psilocybin and MDMA for the treatment of traumatic brain injuries (TBI). Other target indications include migraines, anxiety disorders, and depressive disorders. Wesana has recently committed $1.5 million to help scope-out a MAPS-led trial to study MDMA-assisted psychotherapy for the treatment of TBI. The company has also announced the commencement of a preclinical study evaluating psilocybin as a treatment for TBI.
In addition to its drug development pursuits, Wesana currently operates two mental health treatment facilities that provide ketamine therapies. The company anticipates expanding its network of clinics over the coming years. Through its Wesana Solutions arm, the company is developing an adjunct clinical software platform that will be used in the delivery of future therapies. Wesana has also acquired PsyTech. The company hopes that this acquisition will allow it to connect with the community of practitioners PsyTech has brought together, develop effective treatment protocols, and provide tools to clinicians needed to deliver psychedelic therapies.
Psyence Group
Psyence Group is a Canadian biotechnology company working to develop treatments for trauma and other mental health disorders using natural psychedelic compounds. Psyence Group separates its operations into its Therapeutics, Function, Production, and Experience divisions.
Psyence is focused on developing natural psilocybin compounds for use in its own research efforts or by external researchers. The company is working to develop protocols for psilocybin therapies for various indications. To facilitate its development efforts, Psyence Production operates a federally-licensed facility authorized to cultivate natural psilocybin-containing mushrooms. In October 2021, the company announced that it had successfully completed its first harvest of psychedelic mushrooms.
Under its Function division, Psyence has been developing a nutraceutical line of mushroom-based consumer products. Moving forward, the company also anticipates partnering with treatment and wellness providers under its Psyence Experience division.
Silo Pharma
Silo Pharma is a publicly-traded biotechnology company working to develop therapies that combine approved generic drugs with psychedelics. The company’s predominant focus is on advancing treatments for mental health indications and other neurological diseases such as Alzheimer's and Parkinson’s. Silo has partnered with several academic institutions to conduct research with psilocybin and more recently, LSD.
Emyria Limited
Emyria is an Australian biotechnology company focused on developing MDMA analogues as treatments for indications such as post-traumatic stress disorder (PTSD). To this end, Emyria has partnered with the University of Western Australia to expand the company’s library of novel MDMA-inspired compounds. In addition to its drug development efforts, the company delivers cannabinoid treatments to patients through its Emerald Clinics subsidiary.
PharmaDrug Inc
PharmaDrug is a drug development company working to leverage naturally-derived psychedelic and non-psychedelic compounds for use in future and current therapies.
Through its Sairiyo Therapeutics subsidiary, PharmaDrug is working to advance two lead drug candidates through clinical trials. The company’s oral antiviral drug candidate, Cepharanthine, is being studied as a treatment for COVID-19 symptoms and esophageal cancer. PharmaDrug anticipates studying its lead DMT candidate as a treatment for eye diseases and has been granted orphan drug designation (ODD) for DMT in the prevention of ischemia-reperfusion injury resulting from organ transplants.
Through its majority-owned PharmaDrug Production GmbH subsidiary, the company is licensed to distribute medical cannabis in the E.U. The company also focused on developing a functional mushroom retail division consisting of shops located in the Netherlands and an eCommerce platform.
Private Companies
Beckley Psytech
Beckley Psytech is a private company leveraging a range of psychedelic compounds to develop treatments for a range of psychiatric and neurological disorders.
The company is working to develop treatments using common, under-researched, and entirely novel psychedelics. Beckley Psytech is currently conducting a Phase Ib low-dose psilocybin study for the treatment of short-lasting unilateral neuralgiform headache attacks (SUNHA). Additionally, the company has initiated a Phase I trial studying its intranasal 5-MeO-DMT formulation.
The founders of Beckley Psytech have been engaged in psychedelic research for over two decades through the non-profit Beckley Foundation. Since its inception, the Beckley Foundation has been involved in studies using psilocybin, LSD, and ayahuasca. Beckley Psytech will continue to sponsor and partner with the Beckley Foundation.
In August 2021, the company closed an upsize $80 million Series B financing round, funded by a number of venture capital investors. With this funding, Beckley Psytech will continue to work to expand and progress its development pipeline.
Delix Therapeutics
Delix Therapeutics is a private neuroscience company working to discover novel drug candidates to treat many mental health disorders. Delix is focused on developing what it describes as “psychoplastogens”. These compounds, produced through the company’s drug discovery platform, possess many unique characteristics that Delix anticipates will lead to more effective treatments compared to many classical psychedelics. Delix’s primary focus is on creating drug candidates with strong neuroplastic effects. Some of the company’s preclinical compounds appeared in publications such as a December 2020 article in Nature.
The compounds Delix is working to produce are non-hallucinogenic analogues of classical psychedelics. These innovative compounds are believed to be safer, more bioavailable, and more easily scalable. DLX-1 and DLX-7 are the company’s lead drug candidates. These novel compounds are being studied through preclinical investigations. Delix anticipates advancing DLX-1 and DLX-7 into Phase 1 clinical trials sometime in 2022.
On September 27, 2021, Delix announced that it had closed a $70 million Series A financing round.
Gilgamesh Pharmaceutical
Gilgamesh Pharmaceuticals is a private drug discovery and development company. Through ENVIDU, its AI-powered drug discovery platform, Gilgamesh is working to create novel therapeutics compounds for the treatment of various mental health indications.
Gilgamesh believes that its novel drug candidates offer many improvements over classical psychedelic compounds. Gilgamesh is working to progress GM-1020 (an oral NMDA antagonist) and GM-2505 (a 5-HT2A agonist) through IND applications and into Phase I clinical trials. The company’s non-hallucinogenic GM-200X and GM-300X ibogaine analogue drug candidates continue to be studied in preclinical investigations.
In May 2021, Gilgamesh announced the closing of its Series A financing round, raising $27 million to fund clinical developments and expand its drug pipeline.
Tactogen
Tactogen is a public benefit corporation focused on developing novel psychedelic molecules for use in treating anxiety, depression, and stress-related indications. Led by neuroscientist Matthew Baggott and entrepreneur Luke Pustejovsky, Tactogen has taken a unique approach to the development of its drug candidates.
Leveraging drug discovery technologies, the company is working to identify entactogens that are “gentler and safer” than similar compounds such as MDMA. Tactogen anticipates that producing drug candidates of this nature will allow for cheaper and more accessible psychedelic-based therapies.
MAPS PBC
MAPS PBC is a wholly-owned subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS). In May of 2021, MAPS published promising results of its first Phase III clinical trial on MDMA-assisted psychotherapy for PTSD. MAPS PBC is currently recruiting for a second Phase III clinical trial and has been working with partner companies to offer Expanded Access (Compassionate Use) trials to patients in need.
The PBC’s purpose is to focus on psychedelic drug development, therapist training programs, and sales of prescription psychedelics; prioritizing public benefit above profit. This will primarily involve the rollout of MDMA-assisted therapy for PTSD, should it be approved. The subsidiary has also recently opened applications to practitioners for its MDMA-assisted therapy training program.
Bexson Biomedical
Bexson Biomedical is a private company working to develop new drug therapies and delivery methods for large-market and orphan indications, including chronic pain management. Its BB106 lead project is a ketamine formulation that can be delivered through a wearable, subcutaneous infusion pump.
In February 2019, the company was granted Orphan Status for ketamine in the treatment of Complex Regional Pain Syndrome. The company has recently announced its intent to develop additional novel psychedelic formulations that can be delivered through its infusion delivery system.
Eleusis
Eleusis is a private company focused on developing and delivering psychedelic therapies for several target indications. Founded in 2013, Eleusis is one of the early movers in the psychedelic medicine space.
Today, Eleusis is focused on developing its ELE-Psilo+ (psilocybin) and ELE-Ket+ (ketamine) drug candidates into treatments for major depressive disorder (MDD). The company anticipates initiating Phase II clinical trials in the near future. Eleusis is also focused on developing non-hallucinogenic compounds with anti-inflammatory and neuroprotective properties.
In December 2020 the Company announced its acquisition of Kalypso Wellness Centers. This network of treatment clinics continues to provide ketamine therapy in the United States. Learn more in our interview with Shlomi Raz, CEO, and chairman.
CaaMTech
CaaMTech is a drug discovery company with a focus on engineering new psychedelic drugs and formulations with optimized safety and efficacy. CaaMTech has created a portfolio of patented novel compounds and intends to advance its lead candidates into human trials.
In September 2021, CaaMTech announced the completion of its Series A financing round led by Noetic Fund. CaaMTech raised $22 million, which will allow the company to expand both its team and drug development efforts.
You can read our interview with CaaMTech’s founder and CEO here.
Empyrean
Empyrean Neuroscience is a private biotechnology company working to develop new treatments for neuropsychiatric and neurological disorders. Empyrean has recently announced that it is leveraging a genetic engineering platform to improve the safety and efficacy of its drug candidates. The company is exploring compounds such as psilocybin, DMT, and cannabis as potential treatments for indications that include depressive disorders, substance use disorders, pain disorders, and more. To this end, Empyrean is currently conducting IND-enabling studies for its PsiD+ “enhanced psilocybin” development program, which will be investigated as a treatment for major depressive disorder.
Onsero
Onsero is a newly announced private biotechnology company based out of Boston. The company is building off of the work of Dr. Brian Roth to develop new, non-hallucinogenic “psychedelic-inspired” neuropsychiatric treatments. While still in the early stages of development, Onsero believes that its drug discovery engine will help identify promising candidates that lack the adverse cardiotoxic effects that have been associated with the use of some psychedelics. The company anticipates initiating clinical studies on some drug candidates in 2024.
ReturnHealth
ReturnHealth is a private company focused on developing treatments for dementia using novel psychedelic compounds. Using its AI drug discovery platform, the company is working to create improved drug candidates based on classical psychedelics like psilocybin, LSD, and DMT. ReturnHealth intends to develop treatment options with improved pharmacological profiles that patients can administer at home.
Psilera Bioscience
Psilera Bioscience is a private biotechnology company working to develop novel compounds and innovative drug formulations to treat many mental health indications. Psilera hopes to create more effective compounds based on psychedelic tryptamines and other natural compounds.
Presently, Psilera is focused on developing psilocin, DMT, and other identified novel analogues. Psilera recently announced a collaboration with the National Institute on Drug Abuse (NIDA) to conduct preclinical trials using the company’s intranasal DMT. As part of the collaboration, Psilera will also, through its proprietary BRAIN drug platform, identify novel analogues to advance into preclinical studies targeting alcohol use disorder (AUD).
Read our interview with Co-founder and CSO Jackie von Salm to learn more.
MiHKAL GmbH
Founded by Dr. Matthias Grill, MiHKAL GmbH (name derives from “Molecules I have known and loved”) is a private contract research organization working to develop and patent novel psychedelic drug candidates.
Located in Basel - Switzerland, the company is focused on research of new psychoactive compounds as well as on the synthesis of pharma-grade psychedelics. After having created several patents about prodrugs of known psychedelics, the company recently entered into a research agreement with Compass Pathways. The two companies will work together to expand Compass’s proprietary drug development pipeline through the addition of novel compounds.
Ceruvia Lifesciences
Ceruvia is a private company working to develop psychedelic drug treatments for a range of indications. The company’s NYPRG-101 drug candidate is a non-hallucinogenic LSD analogue being investigated through preclinical and Phase I trials as a treatment for migraines, cluster headaches, opioid use disorder, and alcohol use disorder. Ceruvia’s SYNP-101 synthetic psilocybin candidate is being studied through Phase I clinical trials as a treatment for obsessive-compulsive disorder (OCD), migraines, and cluster headaches.
Lophora
Lophora is a private company working to discover and develop drug therapies for different psychiatric indications. The company’s drug pipeline currently consists of a novel class of drugs it has described as being similar to psilocybin. Lophora’s lead drug candidate, LPH-5, is a 5-HT2A agonist that the company intends to study through a Phase I clinical trial starting in 2022. While Lophora will initially target treatment-resistant depression as a primary indication for its development program, moving forward the company anticipates developing treatments for anxiety disorders, post-traumatic stress disorder (PTSD), and substance use disorders (SUD).
Psy Therapeutics
Psy Therapeutics is a private biotechnology company focused on discovering and developing novel CNS drug treatment candidates for a range of psychiatric indications. The company’s development pipeline is currently focused on creating treatments for generalized anxiety disorder (GAD), post-traumatic stress disorder (PTSD), major depressive disorder (MDD), Parkinson’s, Alzheimer’s, and more.
All of Psy Therapeutics’ development programs are currently in the discovery phase. As compounds are identified, the company will commence Phase I-enabling preclinical investigations.
Journey Colab
Journey Colab is a private company working to develop psychedelic-based therapies for addictions and substance use disorders (SUD). The company intends to focus initially on leveraging its JOUR-001 synthetic mescaline formulation to treat alcohol use disorder (AUD). Journey Colab continues to advance JOUR-001 through preclinical trials and anticipates initiating a Phase I clinical trial sometime in 2022.
Reset Pharma
Reset Pharma is a private drug development company focused on creating psychedelic-based treatments for anxiety and depression in patients with life-threatening cancer diagnoses. The company, through its NYU Langone Health partnership, acquired the intellectual property for the use of psychedelics in the treatment of psychiatric disorders related to life-threatening diseases. The company intends to develop psilocybin as its lead drug candidate moving forward.
Albert Labs
Albert Labs is a private company focused on developing psychedelic-based therapies for unmet psychiatric treatment needs. The company intends on leveraging real-world evidence (RWE) studies, conducted through hospitals and research centres, to collect data it anticipates will help accelerate patient access to psychedelic treatments. To this end, Albert Labs will focus first on treating cancer-related anxiety using psilocybin therapies. The company has also announced that it is progressing towards a public listing on the Canadian Securities Exchange (CSE).
Mindstate Design
Mindstate Design is a private biotechnology company focused on developing novel psychedelic compounds to treat different psychiatric indications. The company is leveraging its Osmanthus® platform to guide candidate discovery, selection, and development. Mindstate’s lead preclinical drug candidate, MSD-101, is a novel entactogen that the company intends to use to target treatment-resistant post-traumatic stress disorder (PTSD). Additionally, the company continues to progress a number of undisclosed drug candidates through this discovery stage of development.
Alvarius Pharmaceuticals
Alvarius Pharmaceuticals is a private biotechnology company working to develop psychedelic-based therapies to treat addictions and substance use disorders (SUD). The company is currently investigating 5-MeO-DMT through preclinical studies in preparation for a Phase I clinical trial it anticipates will begin in early 2022. Alvarius initially intends to study 5-MeO-DMT as a treatment for cocaine and heroin use disorder. The company has also developed a catalogue of 5-MeO-DMT analogues that it intends to investigate moving forward.
Clerkenwell Health
Clerkenwell Health is a private company that offers several services focused on the development and delivery of psychedelic-assisted therapies. The company is currently equipped to support psychedelic clinical trials through its contract research organization (CRO) services. To this end, Clerkenwell Health has been contracted by Psyence Group to support the design and delivery of clinical trials studying psilocybin-assisted therapy. The company has also expanded its CRO service offerings through partnerships with Octarine Bio and Transpharmation.
Additionally, Clerkenwell Health is focused on advancing its psilocybin-assisted psychotherapy treatments through clinical trials. The company intends to initially target major depressive disorder (MDD) as a treatment indication. Eventually, Clerkenwell Health intends to provide approved psychedelic-assisted psychotherapies through treatment centres and will train therapists through its UK Centre of Excellence.
Sacred Medicines
Sacred Medicines is a public benefit corporation focused on leveraging natural plant-based psychedelics to treat different psychiatric and neurologic indications. The company emphasizes the importance of sustainable agricultural practices in order to prevent traditional medicines from being depleted. Sacred Medicines is currently working to develop a Phase I trial studying Ayahuasca as a treatment for an undisclosed indication.
Freedom Biosciences
Freedom Biosciences is a private company working to develop psychiatric treatments using next-generation psychedelics. The company is focused on creating new ketamine and psychedelic treatments with improved safety and therapeutic profiles. To this end, Freedom Biosciences and its partners at Yale University have developed a combination ketamine treatment that has shown to have an extended duration of antidepressant effects.
In August 2022, the company announced that it raised $10.5 million in seed funding from investors such as MBX Capital, PsyMed Ventures, and The Yale Startup.
Manufacturing & Synthesis
Companies engaged in the manufacture of psychedelic drugs, via a variety of methods: from natural extraction through to chemical synthesis.
Public Companies
PsyBio Therapeutics
PsyBio Therapeutics is a US-based, publicly-traded company focused on creating a catalogue of psychedelic molecules for further development and production. PsyBio is leveraging its proprietary drug discovery platform to identify drug formulations that can be manufactured using its biosynthetic production process. The company anticipates that this production method will allow for a more cost- and time-efficient synthesis of psychedelic compounds. PsyBio is partnered with three DEA-approved laboratories to produce psilocybin and other novel psychedelic compounds.
PsyBio is also committed to developing psychedelic-assisted psychotherapies, and will initially target depression in patients with cancer diagnoses as its primary indication.
Optimi Health
Optimi Health is a publicly-traded company focused on manufacturing and distributing mushroom-based products. The company cultivates several different strains of functional mushrooms through its Optimi Farms. Currently, Optimi offers a number of functional mushroom consumer packaged goods for improved health and wellness.
Recently, Optimi has announced that its Health Canada research exemption license has been approved. Pending the approval of a dealer’s license, Optimi anticipates expanding operations to include the production, distribution, and investigation of psilocybin-containing mushrooms.
Optimi is also collaborating with Numinus on all-natural psilocybin extracts.
Filament Health
Filament Health is focused on the discovery and extraction of natural psychedelic drugs, in contrast to a prevailing focus on synthetics and NCEs in the psychedelics drug development space.
The company operates a manufacturing and R&D facility on the British Columbia Institute of Technology campus and is working to develop an IP portfolio in a number of realms: from extraction and purification processes right through to compositions of matter for delivery methods. Thanks to its amended Health Canada Dealers License, Filament is now authorized to research and supply all forms of controlled psychedelic compounds.
Filament has leveraged its natural extraction and purification methods to develop three psilocybe Cubensis extract candidates. In June of 2021, Filament announced a collaboration with UCSF’s TrPR Program to advance its first drug candidates through FDA Phase 1 and 2 clinical trials.
Private Companies
Psygen
Psygen is a Canadian private manufacturer of synthetic psychedelic drugs. The company is working to provide organizations and researchers conducting trials and therapies with cGMP quality psychedelic compounds.
The company claims to be the first manufacturer of restricted psychedelic drug products licensed by Health Canada. The company is constructing a 17,000 square foot production facility. Once completed, Psygen will have 6,000 square feet of psychedelic-dedicated manufacturing space. The Calgary-based company has applied to Health Canada for a corporate Dealer’s License which will allow them to manufacture, possess, sell, import, export, and analyze psychedelic substances through this new facility.
Psygen’s pilot project is licensed to manufacture psilocybin, MDMA, LSD, DMT, mescaline, and 2C-B. The pilot operates at the University of Alberta under the license of Dr. Raimar Löbenberg. The company has recently manufactured and supplied psychedelics for clinical trials conducted by Entheon Biomedical and NeonMind Biosciences. Psygen is working to go public, and anticipates its initial listing to occur sometime in 2022.
In August 2021, Psygen closed a $5.5m private financing, setting the company's value at $30m.
CB Therapeutics
CB Therapeutics is engaged in the biosynthesis of cannabinoids and tryptamines such as psilocybin, psilocin, DMT, 5-MeO-DMT, and undisclosed analogs. The company anticipates that the compounds it produces will be used in treatments for many mental health indications such as depression, PTSD, anxiety, and substance use disorders.
The company claims to be the first to file intellectual property for the synthetic production of these compounds in yeast. In December 2019, CB Therapeutics filed a US Provisional Application for a patent covering the biosynthesis of psilocybin, psilocin, and related tryptamine-based compounds typically found in plants and fungi. In August 2021, CB Therapeutics announced that it had been awarded two patents related to its biosynthetic production methods of cannabinoids and other psychedelic compounds.
Octarine Bio
Octarine Bio is a private company focused on discovering and producing novel psychedelic and cannabinoid compounds. Octarine believes that its synthetic biology approach to producing novel molecules will generate more consistent, pharmaceutical-grade yields at comparatively low costs.
In addition to its preclinical psilocybin production and cannabinoid derivative programs, Octarine is creating a catalogue of proprietary novel psychedelic compounds. The company anticipates that its novel drug candidates will feature a reduced duration of effects or non-hallucinogenic properties.
Octarine has recently partnered with Clerkenwell Health to support clinical studies and provide pharmaceutical-grade psilocybin to researchers and laboratories in Europe.
Read our interview with Nick Milne, Octarine’s CSO.
Wake Network
Wake Network is a private company focused on producing, developing, and providing psilocybin-based therapies. Wake also offers a number of different medical mushroom wellness products. The company currently operates a Jamaican production facility through which it cultivates both psilocybin-containing and medicinal mushrooms.
Wake is working to develop psilocybin-based microdosing products to treat mental health issues such as anxiety, depression, and post-traumatic stress disorder (PTSD). Additionally, the company has announced a partnership with the Lieber Institute for Brain Development to develop the “Wake Genomics Project”, a genetics screening process intended to improve the safety of psychedelic-assisted psychotherapies. Wake is also working with partners to study the effects of psilocybin in the treatment of traumatic brain injury (TBI).
The company operates a Jamaican-based treatment facility that provides week-long “clinical immersions” which include psilocybin-assisted therapy and other wellness-promoting practices.
Benuvia
Benuvia is a private biotechnology company based out of the United States. The company is focused on developing and manufacturing psychedelics and cannabinoids. In May 2022, Benuiva announced that it had received DEA approval to manufacture psychedelic APIs such as psilocybin, 5-MeO-DMT, DMT, and MDMA.
PsyRx
PsyRx is a private biotechnology and manufacturing company based out of Tel Aviv, Israel. The company is working to manufacture psychedelics using its bio-reactor platform. PsyRx intends to supply naturally sourced ibogaine and psilocybin APIs to drug developers working to create new psychiatric treatments.
PharmAla Biotech
PharmAla Biotech is a public biotechnology company based out of Canada. The company is working with Canadian laboratories to supply its LaNeo™ MDMA product for clinical trials. PharmAla is also researching a number of new psychedelic compounds and MDMA analogs in an effort to expand its drug pipeline.
Treatment Clinics & Wellness Centres
Companies providing psychedelic-assisted therapies today, including some ketamine clinics who have clear ambitions to pivot toward psychedelics should they become legally prescribable.
Public Companies
Field Trip Health
Field Trip is a mental wellness company that focuses primarily on providing psychedelic-assisted psychotherapies, and also developing novel psychedelic medicines and creating adjunct technologies for future therapies. In late July of 2021, Field Trip became one of the first psychedelic-focused companies to list on the NASDAQ.
Field Trip is working towards its 2024 goal of opening 75 global clinic locations. The company currently offers ketamine-assisted psychotherapy at 9 clinic locations across Canada, the Netherlands, and the United States.
Following a corporate reorganization in August 2022, Field Trip split into two separate companies. After the separation, Field Trip's drug development division, Field Trip Discovery, became an independent organization and was renamed as Reunion Neuroscience.
Numinus Wellness
Numinus Wellness is a Canadian publicly-traded company working in the psychedelic space. The Company’s operations include Numinus Bioscience, a testing and research facility; Numinus Health, a treatment and healing centre model; and Numinus R&D.
Since its May 2020 TSXV listing, Numinus has been working to expand its network of clinics geared towards the delivery of psychedelic-assisted psychotherapies. The company currently offers ketamine-assisted psychotherapy and are collaborating with MAPS and Syreon Corporation on two compassionate access trials for MDMA (MAPS) and psilocybin-assisted psychotherapy (Syreon Corp).
In 2020, Health Canada issued the Numinus Bioscience laboratory a license to work with, and produce, a number of different psychedelic compounds. In October 2020, Numinus harvested their first flush of Psilocybe mushrooms and have since been able to offer contract lab services to several companies. Recently, Numinus has advanced a Phase I clinical trial studying its proprietary PSYBINA natural psilocybin extract.
Awakn
Awakn Life Sciences is a UK-based company working to develop and deliver treatments for addictions and substance use disorders (SUDs). The company is committed to creating effective psychedelic-assisted psychotherapies, leveraging several classical and novel compounds. Additionally, Awakn is building a network of treatment clinics to provide patients with immediate care.
Awakn’s drug pipeline includes Ketamine, MDMA, and several novel MDMA derivatives. In line with the company’s focus on addiction,indications under investigation include alcohol use disorder (AUD), gambling addiction, behavioural addictions, and non-specified substance use disorders (SUD). Awakn has several ongoing investigations including preclinical studies on the company’s proprietary AWKN001 and AWKN002 novel drug candidates, a Phase IIa MDMA trial targeting AUD, and a Phase IIb ketamine trial also targeting AUD.
To aid in its treatment delivery efforts, Awakn has committed to opening roughly 20 European clinics before 2025. In 2021, Awakn has opened clinics in Bristol and Oslo. Through these treatment facilities, Awakn is able to provide ketamine-assisted therapies for several mental health disorders.
Levitee Labs
Levitee Labs is a publicly-traded company working to provide treatments for mental health and psychiatric disorders. The company currently operates 5 Canadian addiction and pain treatment clinics. Additionally, Levitee owns three pharmacies that offer medical dispensing for addictions and pain treatments. The company also owns several consumer wellness product ventures featuring functional mushrooms and health supplements.
Universal Ibogaine
Universal Ibogaine is a publicly-traded company working to treat substance use disorders through treatment clinics. The company intends to provide a primarily ibogaine-based clinical treatment protocol for opioid use disorder. Universal Ibogaine currently operates Clear Sky Recovery, a treatment facility in Mexico that delivers ibogaine-assisted psychotherapy for addictions.
In addition to its treatment delivery focus, the company is focused on developing ibogaine into a regulatory agency-approved treatment for opioid use disorder. Universal Ibogaine anticipates initiating early-stage trials in the near future.
Braxia Scientific
Braxia Scientific (formerly Champignon Brands) is a Canadian company focused on the delivery of mental health treatments and the production of novel psychedelic compounds for use in future treatments.
Braxia currently operates four treatment clinics in the Canadian cities of Montreal, Mississauga, Ottawa, and Toronto. Through these Braxia Health treatment clinics, patients suffering from treatment-resistant depression (TRD) are able to receive three different ketamine therapies. The company has also announced that three clinical trials will be conducted through its network of treatment centres. These trials will focus on ketamine treatments for bipolar disorder (BPD) and suicidality, as well as psilocybin for TRD.
Braxia’s research and development efforts are focused on formulating novel ketamine derivatives and other new psychedelic compounds. To this end, the company is working to develop topical and intranasal ketamine formulations.
As with other categories, this representation is not exhuastive. There are many, many ketamine clinics, for example. We have only listed some of the most prominent publicly-traded companies here.
Private Companies
Beckley Retreats
Beckley Retreats is a private company under the broader Beckley Ecosystem. The company works to facilitate legal psilocybin ceremonies through its retreat programs in Jamaica. Beckley also provides four weeks of virtual preparation sessions in advance of the ceremonies and six weeks of virtual integration sessions following the completion of the ceremonies in Jamaica.
CPG & Adult Use
Companies marketing psychedelics-related consumer packaged goods (CPGs), or catering to the Adult Use market.
Public Companies
Red Light Holland
Red Light Holland is a publicly-traded company seeking to capitalize on the legal recreational psychedelic market in the Netherlands. The company is now selling its iMicrodose brand of psychoactive truffles through 25 “Smart Shop” locations and two e-commerce platforms. Red Light Holland has also recently acquired a majority stake in two Canadian gourmet mushroom farms, allowing the company to produce and distribute non-psychoactive consumer goods.
Red Light Holland cultivates and packages a variety of psilocybe strains of truffles. The company currently distributes its products in the Netherlands and hasbeen authorized to import a package of its iMicrodose consumer product into Brazil. Pending changes in regulatory conditions, Red Light Holland will continue to expand its consumer product sales into other countries.
Psyched Wellness
Psyched Wellness is a publicly-traded company working to develop and distribute mushroom-based health supplements for consumers.
The company’s current product development efforts are focused on creating a series of wellness products using its AME-1 extract from the popular psychoactive mushroom Amanita muscaria. The company anticipates that these products will aid in facilitating stress relief, relaxation, and a more restful sleep. Recently, Psyched Wellness announced that Health Canada had added the Amanita muscaria mushroom to The Natural Health Products Ingredients Database (NHPID). This regulatory change might aid the company in bringing its products to market.
Silo Wellness
Silo Wellness is a publicly-traded Canadian company working to provide consumers with a range of functional mushroom products. The company currently offers a line of mushroom-based tinctures. In addition to its consumer product line, Silo provides several different guided psychedelic retreats through its locations in Jamaica and Oregon.
Private Companies
Earth Resonance
Earth Resonance is a Dutch company providing microdosing supplements for therapeutic use. Their products, exclusively sold in the Netherlands, are in the form of Sclerotia, which contains Psilocybin – otherwise known as magic truffles. In addition to selling consumer microdosing products, Earth Resonance offers paid consultations with its team for customers seeking guidance on their microdosing cycle.
Adjunct Technologies
Companies developing adjunct technologies for the delivery of psychedelic-assisted therapies.
Private Companies
Maya
Maya Health is a private US public benefit corporation working to develop technologies for use in psychedelic-assisted psychotherapy.
The Maya platform has been tailored for use by practitioners, retreat facilitators, psychedelic integration coaches, and within existing ketamine clinics. Maya’s platform will allow care providers to develop and plan treatment protocols, conduct baseline psychiatric health assessments, document therapy sessions, stay connected with patients, and help quantify treatment outcomes. Maya continues to develop its platform in preparation for launch.
Osmind
Osmind is a public benefit corporation (PBC) focused on developing and providing digital platforms for use in psychiatric, ketamine, and psychedelic-assisted therapies. The company currently offers two complementary technology solutions that have been integrated into a growing network of clinical practices. Osmind’s online electronic health record (EHR) platform was developed for practitioners providing psychiatric treatments. Additionally, the company’s “Outcomes + Engagement Platform'' provides patients with a number of adjunct mobile therapy tools that can be used to improve treatment outcomes and care.
Homecoming
Homecoming is a private technology company focused on supporting patients and therapists all at stages of the psychedelic therapy process. The company currently offers a patient care platform that therapists, clinics, and retreats can use to support patient preparation, treatment delivery, and integration. Homecoming also offers a mobile companion application that therapists can use to monitor progress virtually.
In April 2022, Homecoming raised $4 million through a seed financing round.
TRIPP
TRIPP is a private technology company working to create meditation and mental well-being tools. TRIPP currently leverages augmented reality, virtual reality, and mobile-based technologies to simulate psychedelic experiences, facilitate communal meditations, and guide personal meditations and mindfulness practices.
Throughout 2021 and 2022, TRIPP raised over $22 million from investors such as Vine Ventures, the Amazon Alexa Fund, PsyMed Ventures, and JLS Fund.
Wavepaths
Wavepaths is a private technology company working to create and provide music for psychedelic therapies. The company offers a number of solutions for therapy providers that are intended to support treatments and improve therapeutic outcomes. These include music templates tailored to different levels of emotional intensity, adaptive playlists, real-time adjustments, and more.
Through its 2021 seed financing round, Wavepaths raised $4.5 million from investors such as Palo Santo Fund and Tabula Rasa Venture.
As with other categories, this is by no means definitive. Comments are welcome at industry@psychedelicalpha.com
Suggestions & Comments
Psychedelic Alpha reserves its right to exercise editorial judgement regarding the inclusion of companies on this page, and does not claim that this resource is definitive. As with all of our resources, this sector landscape should not inform investment decisions.
If you would like to suggest an addition or amendment to this Psychedelic Sector Overview, you are welcome to contact us at industry@psychedelicalpha.com
