Market For Psychedelic Drugs Expected to Reach $6.9 Billion By 2027

PALM BEACH, Fla., April 14, 2021 /PRNewswire/ -- The psychedelics industry may appear to have suddenly emerged as one of the hottest corners of the stock market, but researchers have been working for decades to show the efficacy of these treatments and regulators are just starting to appreciate the possibilities.  Investors could see strong growth in the industry as companies commercialize breakthrough therapeutics while patients could finally have access to life-changing treatments for a range of mental health conditions that have no effective treatment options today. A recent article by CFN Media Group focused on the newly born psychedelics industry in terms of both its revenue potential and the valuations that investors are assigning to companies in the space. Another article said: "The market for psychedelic drugs is projected to grow from just over $2 billion last year to about $6.9 billion by 2027, according to Data Bridge Market Research, which represents a blistering 16.3% compound annual growth rate over the forecast period."   The report authors note that psychedelic drugs are becoming increasingly accepted in the treatment of major depressive disorder, treatment-resistant depression, panic disorder, post-traumatic stress disorder, opiate addiction, eating disorders, and fibromyalgia, among other things.   Active companies in news today include:  Minerco, Inc., Pure Extracts Technologies Corp. (OTCPK: PRXTF) (CSE: PULL), Revive Therapeutics Ltd. (CSE: RVV) (OTCPK: RVVTF), PharmaTher Inc. (CSE: PHRM) (OTCQB: PHRRF), Havn Life Sciences Inc. (CSE: HAVN) (OTCPK: HAVLF), Psyence Group Inc. (CSE: PSYG).

The CFN article then focused on the investors, saying that: "The growing body of research supporting psychedelics and more widespread acceptance has led to an explosion of investment in the sector. In addition to more that 25 public companies in the space, there are hundreds of privately held companies drawing investment dollars.  Peter Thiel, a famous investor in Facebook and PayPal, became the industry's most high-profile investor in the space.   Meanwhile, Compass Pathways plc has nearly doubled since its debut on the NASDAQ with a market capitalization of nearly $2 billion.

Minerco, Inc. "The Magic Mushroom Company" BREAKING NEWS - MINERCO RETAINS LOBBYING FIRM TO SUPPORT EFFORTS TO DECRIMINALIZE PSILOCYBIN IN DETROIT AND SURROUNDING AREAS - Minerco, Inc. (trading on the OTC Markets under the Symbol MINE) today announced that it has retained a lobbying firm to play an expanded role in the Company's lobbying efforts. The firm will be joining forces with Minerco's government relations staff to decriminalize psilocybin in Detroit, Michigan and surrounding areas.  Ann Arbor, Michigan recently joined Denver, Colorado; Oakland, California, Santa Cruz, California; and Washington, D.C. as cities across the nation that have decriminalized naturally occurring psychedelics sometimes referred to as entheogenic plants and fungi. Oregon voters passed a ballot measure in November that will create a program for medicinal use of psilocybin.

The Company believes Michigan's ranking as the nation's second largest market for cannabis, after California, will be ripe for the introduction of psilocybin.  After opening the state's first adult-use stores in December 2019, Michigan's cannabis industry saw sales increase month-over-month at a sharp incline. Recreational and medical sales combined for $35 million in revenue in January 2020; by July 2020, the state was recording nearly $110 million in combined monthly sales. 

"This is a pivotal time for our movement and for the psilocybin industry," said Julius Jenge, Chief Executive Officer of Minerco, Inc.  "The success of marijuana decriminalization and legalization efforts in the United States has provided a blueprint for proponents of other drugs that are currently regulated similarly in United States such as psilocybin.  We are optimistic that voters across the nation will realize the medicinal benefits of psilocybin just as they did with cannabis and will join us in supporting nationwide reforms in the laws prohibiting the manufacturing and distribution of psilocybin and comparable drugs."

Recent studies of the effects of psilocybin suggest it can be used to treat a wide range of ailments from insomnia to depression.  The Ann Arbor decriminalization resolution additionally cited benefits of using natural psychedelic compounds to break addiction to other drugs, such as opiates, heroin and methamphetamines.

The drugs specifically targeted by prior decriminalization efforts include: psilocybin, which is found in various strains of mushrooms; mescaline, found in San Pedro and peyote cacti; ibogaine, which comes from the iboga plant, an African shrub; and dimethyltryptamine, commonly referred to as DMT, from ayahuasca tea that is made with various South American plants.   Read More About Minerco by visiting:  https://www.minercoinc.com/       

FOR ADDITIONAL INFORMATION ABOUT THE INDUSTRY AND MINERCO (MINE) PLEASE VISIT: https://psychedelicstox.com/2021/04/13/investor-alert-unique-triple-play-opportunity-now-unfolding-in-three-rapidly-growing-markets/ 

In other industry news of note:

Revive Therapeutics Ltd. (CSE: RVV) (OTCPK: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, recently announced positive results of a pre-clinical study evaluating the efficacy of psilocybin in the treatment of mild traumatic brain injury ("TBI") in a rodent model of TBI. The study was conducted at the National Health Research Institutes ("NHRI"), which was part of the psilocybin program acquired from PharmaTher Inc., a subsidiary of Newscope Capital Corporation (CSE: PHRM) (OTCQB: PHRRF).

The study characterized the potential neuroreparative effect of psilocybin compared to being treated with a vehicle (saline) using a TBI mouse model. Adult mice were randomly assigned to 4 groups: (1) control, (2) TBI+vehicle, (3) TBI+low dose psilocybin, and (4) high dose psilocybin. Cognitive function was examined by the Morris water maze test after the injury. It was found that psilocybin, given after injury, improved cognitive function in TBI mice. Also, there were no adverse effects observed with psilocybin.

With the its recent acquisition of the provisional patent application from PharmaTher Inc., titled, "Psilocybin in the Treatment of Neurological Brain Injury", and the positive research results with psilocybin in a TBI model, Revive has filed an international Patent Cooperation Treaty ("PCT") application (PCT/CA2021/050360) allowing it to seek protection of this invention in 153 countries, including the U.S., Europe, Canada, Japan and China.

Pure Extracts Technologies Corp. (CSE: PULL) (OTCPK: PRXTF) and Psyence Group Inc. (CSE: PSYG) recently announced the signing of a Letter of Intent ("LOI") to form a Joint Venture (the "JV") to develop superior techniques for the extraction of psilocybin from psychedelic mushrooms, as well as the development of advanced formulations containing psilocybin for the long-term treatment of psychological trauma and its mental health consequences.

Psyence is one of the world's first psychedelic mushroom companies operating a federally legal commercial cultivation and extraction facility in Southern Africa and possessing an experienced global team of doctors and scientists striving for breakthroughs in palliative care, neurology, neuroscience and drug development.

Havn Life Sciences Inc. (CSE: HAVN) (OTCPK: HAVLF),https://pr.report/RVQK9bAP a biotechnology company pursuing standardized extraction of psychoactive compounds and the development of natural healthcare products, recently  announced, further to its news release dated January 26, 2021, that it has completed the acquisition of GCO Packaging and Manufacturing Ltd. ("GCO"), acquiring 100% of the outstanding shares of GCO (the "Acquisition") in exchange for an aggregate of 6,000,000 common shares of Havn Life (the "Consideration Shares"). GCO operates a large-scale manufacturing, packaging and distribution facility ("Facility").

The Acquisition is expected to enhance three key elements to Havn Life's retail strategy: Facilitate expanded product portfolio with strong revenue generation potential; Expand ability to enter new Natural Health Product ("NHP") categories; and Reduce third party manufacturing burden.

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM expects to be compensated twenty five hundred dollars for news coverage of the current press releases issued by Minerco, Inc. by a non affiliated third party.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.Contact Information:

Media Contact:

Email: [email protected] 
+1(561)325-8757

View original content:http://www.prnewswire.com/news-releases/market-for-psychedelic-drugs-expected-to-reach-6-9-billion-by-2027--301268400.html

SOURCE FinancialNewsMedia.com