Psyched: A $100M Donation Pledge, Frank Biden Gets Candid, New Search Trends & More

World's Largest Psychedelics Conference Boasts 12K Attendees

The Multidisciplinary Association for Psychedelic Studies (MAPS) sponsored a Psychedelic Science conference in Denver last week, which gathered over 12,000 people from the entire psychedelics spectrum.

The list of attendees included the most knowledgeable individuals in the field, as well as grassroots organizations, practitioners, scientists, politicians, veterans, celebrities, publicly traded companies and psychonauts including famed podcast host Dr. Andrew Huberman; NFL star quarterback Aaron Rodgers; and actor Jaden Smith, who advocate awareness expansion and access to psychedelic-assisted therapies as mental health treatments.

See Also: Burning Man CEO Learned 'So Much' About Psychedelics In BRC: 'We're Here For The Love'

New York Mets owner Steve Cohen, alongside his wife Alexandra, announced a $5 million grant for MAPS’ ongoing clinical studies toward FDA approval of MDMA-assisted therapy for the treatment of PTSD.

Additionally, Toms Shoes founder Blake Mycoskie also shared his intention to donate and invest $100 million in different organizations and projects advancing the use of psychedelic-assisted therapies as mental health treatments.

See Also: Video - 'Moms On Mushrooms Are Gonna Change The Whole Society,' Says Zappy Zapolin

Biden's Younger Bro: President Is 'Very Open-Minded' On Psychedelics

President Joe Biden’s youngest brother, Frank Biden, recently called SiriusXM radio host Michael Smerconish and revealed that the U.S. President has been “very open-minded” in conversations held between the two around the medical benefits of psychedelics.

“The question is... is the world, is the U.S. ready for this?” the younger Biden asked, adding that he has done “a great deal” of research on the topic as a recovering alcoholic.

“We are on the cusp of a consciousness that needs to be brought about to solve a lot of the problems in and around addiction, but as importantly, to make us aware of the fact that we’re all one people, and we’ve got to come together," he said. Keep reading HERE.

Exclusive: Search Trends Reveal America's Fascination With Psychedelics And Cannabis

A shift is occurring in America's consciousness as the nation plunges headfirst into the psychedelics and cannabis revolution, an analysis by SEMRush SEMR provided exclusively to Benzinga has found. 

As legislation eases and perceptions change, Google search trends in the U.S. between January 2020 and May 2023 have given insight into what's capturing America's curiosity.

Most notably, ayahuasca, shrooms and psilocybin have topped the list of psychedelics-related searches, reflecting the growing interest in these substances, often linked to self-exploration, spiritual awakening and potential therapeutic uses.

But search trends are revealing more than just a casual interest: they illustrate a desire for personal experiences and knowledge on a burgeoning topic. Keep reading HERE.

The Milestone Round

• Mindset Pharma MSSTF received U.K. regulatory approval to commence a Phase 2 trial on its psilocin compound for the treatment of Major Depressive Disorder (MDD.)

• Enveric Biosciences ENVB is developing a new formulation of its psilocin prodrug targeting Generalized Anxiety Disorder (GAD,) while Lobe Sciences’ LOBEF related compound targeting Chronic Cluster Headaches (CCH) has began the clinical path. 

• Australian startup Psylo inked a sponsored research agreement with Japanese pharma company Daiichi Sankyo DSNKY for R&D on antidepressant medicines.

• BetterLife Pharma BETRF is aiming to fast-track its patent application covering composition of matter, treatment uses and a novel production method of non-hallucinogenic LSD derivatives.

• Silo Pharma SILO got a new U.S. issued patent covering its anti-arthritis molecule.

• PharmaTher Holdings PHRRF entered a partnership with marketing company Vitruvias Therapeutics for commercializing its ketamine products in the U.S. market and filed a pre-submission letter toward its ANDA application for proprietary racemic ketamine KETARX with the FDA, while healthcare treatment provider Stella acquired Field Trip’s FTHWF assets to further broaden its treatments offer.

• Companies posted their financial results for the period: Cybin Inc. CYBN, Reunion Neuroscience, REUN and Small Pharma DMTTF.

• MindMed’s MNMD shareholders have voted for the company’s nominees at the annual meeting, opting for the continuation of the current R&D path.

• FSD Pharma HUGE is to grant a new business the exclusive rights to recreational applications for its alcohol misuse technology to accelerate detox.

• The Canadian government is funding clinical trials on psilocybin-assisted therapy.

• Psychedelic therapy retreat clinic Tikkun Urban opened a new center in Miami Beach.

• Tandava is hosting expertly guided 5-MeO-DMT experiences for women and BIPOC communities.

• A new study shows psychedelics use linking to decreased consumption of alcohol, cocaine and antidepressants.

• The road to legal psychedelics: Is cannabis a good comparison?

See Also: Last Week's Edition Of 'Psyched'

Psychedelics ETF Weekly Performance

AdvisorShares Psychedelics ETF PSIL opened Monday, July 3 at $1.89 — slightly higher than market closing price $1.85 on Friday, June 30 and prior opening Monday, June 26 at $1.82.

The week stood pretty constant, reaching highest at $1.86 on Friday, June 30, and lowest at $1.82 during the June 26 opening.

For this ETF, the yearly price range is set between $4.35 and $1.65.