The psychedelics sector received its latest sign of acceptance from Wall Street with famed investor Cathie Wood taking a position in Atai Life Sciences ATAI through her ARKG ETF.
The country’s growing acceptance of psychedelics was also marked on Friday by a new psychedelics bill approved in Utah, which creates a special task force to study the therapeutic application of psychedelics.
Both public and private sides of the psychedelics industry saw significant new milestones. From the public front, NYSE-listed Cybin CYBN received a new patent approval from the USPTO. VC investors across the sector celebrated the launch of Mindstate Design Labs, a startup that raised $11.5 million to create new psychedelics with an innovative approach that aims to design new states of consciousness.
The Latest In Psychedelics:
- Cathie Wood Is Buying Atai Life Sciences Stock For Ark Funds
- Mindstate Design Labs Uses AI To Design New Drug-Induced States Of Consciousness
- Utah House Gives Green Light To Psychedelics Study Task Force Bill
- Cybin Receives U.S. Patent For Its Proprietary DMT Compound To Treat Anxiety Disorders
- Benzinga's Unprecedented Psychedelics Investing Conference Lands In Miami On April 19th
- Will The DEA Give In As Advocates Revolt Over Proposed Scheduling Of Five Psychedelic Compounds?
- Is The Psychedelics Sector In Decline? This $30M VC Fund Says HOLD
- HAVN Life Enters Distribution Agreement With Mycrodose For U.S. Market
- Entheogens And Plant Medicine: An Introduction
Cathie Wood Is Buying Atai Life Sciences Stock For Ark Funds
There’s a new psychedelics company being added to an ETF from Cathie Wood.
The Ark Genomic Revolution ETF ARKG took an initial position in shares of psychedelics company Atai Life Sciences ATAI Tuesday, increasing its position on Thursday.
The ETF purchased 114,729 shares in ATAI between Tuesday and Thursday representing around 0.02% of assets in the fund.
Mindstate Design Labs Uses AI To Design New Drug-Induced States Of Consciousness
Mindstate Design Labs is a biotech startup focused on developing new drugs capable of inducing curated states of mind.
The company has raised $11.5 million in a seed round and its initial achievement is a technology platform built to design altered states of consciousness using predictive artificial intelligence models.
If its AI model proves successful, Mindstate will be able to first design a desired state of consciousness and then output the drug capable of producing it. This model, however, still needs to be proven in human clinical trials.
Utah House Gives Green Light To Psychedelics Study Task Force Bill
The psychedelics reform movement had another victory on Thursday, with the Utah House of Representatives overwhelmingly passing a bill to set up a task force to study and make recommendations on the therapeutic potential of psychedelic drugs.
The piece of legislation would also create possible regulations for the legal use of psychedelic drugs, Marijuana Moment reported.
Introduced by Republican Rep. Brady Brammer in January, the bill would create a Mental Illness Psychotherapy Drug Task Force tasked with studying and making recommendations on drugs that can assist in treating mental illness, specifically controlled substances that are “not currently available for legal use.”
Cybin Receives U.S. Patent For Its Proprietary DMT Compound To Treat Anxiety Disorders
Cybin Inc. CYBN announced that the U.S. Patent and Trademark Office has granted U.S. patent 11,242,318 to the company’s investigational deuterated DMT compound CYB004. The allowed claims include a range of deuterated forms of DMT and 5-MeO-DMT. The patent, which is expected to expire in 2041 before consideration of any patent term extensions, covers the composition of matter and protects the CYB004 drug substance as a putative new chemical entity. CYB004 is Cybin’s lead investigational proprietary DMT compound. In preclinical studies, CYB004 has demonstrated potential efficacy at lower doses while also increasing the duration of drug effect providing a therapeutic profile that may alleviate the common negative experiences associated with classical DMT.
Benzinga's Unprecedented Psychedelics Investing Conference Lands In Miami On April 19th
The first Benzinga Psychedelics Capital Conference, the premier gathering of psychedelics industry leaders and forward-thinking investors, is coming to the Fontainebleau Miami Beach on April 19, 2022, in Miami, Florida.
Join us for a day full of unique networking opportunities, exclusive industry insights and a chance to be in the room with the leaders taking Psychedelics to the next level.
Benzinga is proud to announce Kevin O’Leary, chairman of O’Shares Investment Advisors and host of ABC’s Shark Tank as a keynote speaker and panelist for the conference.
Will The DEA Give In As Advocates Revolt Over Proposed Scheduling Of Five Psychedelic Compounds?
Despite decriminalization efforts underway across the country, the DEA proposed putting five psychedelic compounds in the Schedule I category of the Controlled Substances Act.
The agency’s ban of 4-OH-DiPT, 5-MeO-AMT, 5-MeO-MiPT, 5-MeO-DET, and DiPT would put five tryptamines in the same category as drugs like heroin, Ecstacy, LSD and of course cannabis.
Some 90 people, including researchers and advocates, have submitted official feedback to the agency upon publishing the scheduling proposal in the Federal Register, Marijuana Moment reported.
Is The Psychedelics Sector In Decline? This $30M VC Fund Says HOLD
Recently, there has been an exciting discussion in LinkedIn posts and Microdose PsyCap events regarding the presumed declining status and dire future of the psychedelic medication industry. We would like to share Negev Capital’s view based on our experience, feedback from our portfolio companies and investors.
First, we agree that the psychedelic medication market is still in an early stage of development and is experiencing “growing pains” as do all emerging sectors. However, we believe there is much to be optimistic about. The year 2021 was an incredible one for psychedelic medicine: an entirely new asset class was created and has the potential to disrupt global mental health therapeutics.
HAVN Life Enters Distribution Agreement With Mycrodose For U.S. Market
HAVN Life Sciences Inc. HAVN HAVLF, a biotechnology company working with psychedelic compounds for investigational research to support brain health and cognitive function, announced on Thursday its entry into an exclusive U.S. Distribution Agreement with California-based Mycrodose Therapeutics Inc., a leading pharmaceutical company specializing in the research and development of advanced drug delivery systems utilizing DEA Schedule I, II and III substances and other compounds aimed at treating cancer-related conditions, mental health, and cognitive degenerative diseases.
The agreement will facilitate the import of HAVN Life's naturally derived GMP psilocybin to research institutions and researchers within the U.S. “at competitive prices” to alleviate “supply chain issues,” reported HAVN in a press release.
Entheogens And Plant Medicine: An Introduction
The discussion around psychedelics and their use as adjuncts to therapy has been increasingly gaining attention, alongside a growing enthusiasm around “plant medicines” as alternatives to currently accepted treatments. This renaissance comes from growing evidence that psychedelics can help treat mental health issues such as PTSD, depression, end-of-life distress, OCD and addiction. Plant medicines have been used for spirituality, healing, and community since time immemorial, and we now find ourselves turning back to the plants for healing.
There are many vision-inducing plants found in nature, with many cultures having sought the divine through changes in consciousness, breathing techniques, singing & dancing, and a variety of plant medicines: the Soma of the Hindu Vedas, Huachuma at Chavin de Huantar, Teonanacatl used by the Aztecs, and the Amazonian brew Ayahuasca represent a handful of sacred plants. We refer to these plants as entheogens.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.