Opioid

Global Psychedelic Therapeutics Market Size Expected To Reach $13.29 Billion By The Year 2031

Retrieved on: 
Wednesday, July 26, 2023

PALM BEACH, Fla., July 26, 2023 /PRNewswire/ -- Psychedelic and hallucinogenic medicines market have been growing consistently over the past several years and are expected to continue to rise in the coming years.  Psychedelic medicines are a group of substances, including chemicals, such as LSD, and plants used to treat multiple mental disorders, including resistant depression, opiate addiction, and panic disorder, among others. This medicine changes and enhances sensory perceptions, thought processes, and energy levels and facilitates favorable experiences.  A recent report from Insight Ace Analytic projected that the Psychedelic Therapeutics Market Size is valued at 3.94 Billion in 2022 and is predicted to reach 13.29 Billion by the year 2031 at a 14.92 % CAGR during the forecast period for 2023-2031.  The report said: "The Global psychedelic therapeutics market is proliferating owing to the increasing incidence of depression cases across the world. Additionally, changed lifestyles and quality of living are supporting the growth of psychedelic medicine market. In addition, the market is anticipated to expand lucratively as a result of the growing need for medicines to treat psychological drug dependency. On the other hand, a greater acceptance of non-therapeutic treatments over allopathic therapies and tight rules implemented by various governments to commercialize psychedelic medications may inhibit the market growth."  Active Companies active today in markets include:  Cybin Inc. (NYSE: CYBN) (NEO: CYBN), COMPASS Pathways plc (NASDAQ: CMPS), Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (NEO: MMED), Seelos Therapeutics, Inc. (NASDAQ: SEEL), Numinus Wellness Inc. (OTCQX: NUMIF) (TSX: NUMI).

Key Points: 
  • A recent report from Insight Ace Analytic projected that the Psychedelic Therapeutics Market Size is valued at 3.94 Billion in 2022 and is predicted to reach 13.29 Billion by the year 2031 at a 14.92 % CAGR during the forecast period for 2023-2031.
  • The report said: "The Global psychedelic therapeutics market is proliferating owing to the increasing incidence of depression cases across the world.
  • Additionally, changed lifestyles and quality of living are supporting the growth of psychedelic medicine market.
  • Worldwide has a track record of successful patient recruitment for psychedelic trials and global relationships with best-in-class investigative sites.

Global Psychedelic Therapeutics Market Size Expected To Reach $13.29 Billion By The Year 2031

Retrieved on: 
Wednesday, July 26, 2023

PALM BEACH, Fla., July 26, 2023 /PRNewswire/ -- Psychedelic and hallucinogenic medicines market have been growing consistently over the past several years and are expected to continue to rise in the coming years.  Psychedelic medicines are a group of substances, including chemicals, such as LSD, and plants used to treat multiple mental disorders, including resistant depression, opiate addiction, and panic disorder, among others. This medicine changes and enhances sensory perceptions, thought processes, and energy levels and facilitates favorable experiences.  A recent report from Insight Ace Analytic projected that the Psychedelic Therapeutics Market Size is valued at 3.94 Billion in 2022 and is predicted to reach 13.29 Billion by the year 2031 at a 14.92 % CAGR during the forecast period for 2023-2031.  The report said: "The Global psychedelic therapeutics market is proliferating owing to the increasing incidence of depression cases across the world. Additionally, changed lifestyles and quality of living are supporting the growth of psychedelic medicine market. In addition, the market is anticipated to expand lucratively as a result of the growing need for medicines to treat psychological drug dependency. On the other hand, a greater acceptance of non-therapeutic treatments over allopathic therapies and tight rules implemented by various governments to commercialize psychedelic medications may inhibit the market growth."  Active Companies active today in markets include:  Cybin Inc. (NYSE: CYBN) (NEO: CYBN), COMPASS Pathways plc (NASDAQ: CMPS), Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (NEO: MMED), Seelos Therapeutics, Inc. (NASDAQ: SEEL), Numinus Wellness Inc. (OTCQX: NUMIF) (TSX: NUMI).

Key Points: 
  • A recent report from Insight Ace Analytic projected that the Psychedelic Therapeutics Market Size is valued at 3.94 Billion in 2022 and is predicted to reach 13.29 Billion by the year 2031 at a 14.92 % CAGR during the forecast period for 2023-2031.
  • The report said: "The Global psychedelic therapeutics market is proliferating owing to the increasing incidence of depression cases across the world.
  • Additionally, changed lifestyles and quality of living are supporting the growth of psychedelic medicine market.
  • Worldwide has a track record of successful patient recruitment for psychedelic trials and global relationships with best-in-class investigative sites.

Addex mGlu2PAM Demonstrates Potential in Substance Use Disorder

Retrieved on: 
Monday, July 24, 2023

The data were published in Neuropharmacology by Addex and The Scripps Research Institute.

Key Points: 
  • The data were published in Neuropharmacology by Addex and The Scripps Research Institute.
  • “In the United States, opioid abuse and overdose have reached epidemic proportions, with oxycodone being the most abused prescription opioid.
  • In previous research, this approach has successfully been used in nicotine, cocaine and alcohol models,” said Dr. Robert Lütjens, Head of Discovery – Biology at Addex.
  • “Demonstrating the wide potential of mGlu2 PAMs, an Addex discovered drug candidate, ADX71149, is being evaluated in a phase 2 clinical study as a potential treatment for epilepsy by our partner Janssen.”

Ontra Expands its Legal Aid Alliance Program to Further Combat the Global Justice Gap

Retrieved on: 
Wednesday, July 12, 2023

SAN FRANCISCO, July 12, 2023 /PRNewswire/ -- Ontra, the leading provider of contract automation and intelligence solutions for the world's most prominent asset managers, today announced the global expansion of its philanthropic program, the Legal Aid Alliance (LAA). Through the LAA, Ontra partners with 600 private equity customers to fund access to legal services in low-income communities. For every document processed on Ontra's platform, the LAA donates $1 to vetted non-profit legal aid organizations. To date, the program has supported beneficiaries in the U.S., donating $200,000 in 2022 and $300,000 since its inception in 2021. Moving forward, Ontra will extend the reach of the LAA to Europe and Asia, initially donating to organizations in the UK and Singapore.

Key Points: 
  • Through the LAA, Ontra partners with 600 private equity customers to fund access to legal services in low-income communities.
  • For every document processed on Ontra's platform, the LAA donates $1 to vetted non-profit legal aid organizations.
  • "Through the Legal Aid Alliance, we've set our sights on closing this 'justice gap' by educating and mobilizing Ontra customers around this important cause and by delivering funds directly to the non-profits best equipped to provide critical legal aid.
  • Globally, the World Justice Project ® (WJP) estimates that 1.5 billion people cannot obtain justice for civil, administrative, or criminal justice problems.

Spark Biomedical’s second-generation device, Sparrow® Ascent, Receives FDA Clearance for Opioid Withdrawal Relief in Adults

Retrieved on: 
Tuesday, July 11, 2023

Sparrow Ascent is a wearable neurostimulation device designed to provide safe, comfortable, drug-free relief for individuals experiencing opioid withdrawal symptoms.

Key Points: 
  • Sparrow Ascent is a wearable neurostimulation device designed to provide safe, comfortable, drug-free relief for individuals experiencing opioid withdrawal symptoms.
  • Spark’s original product, The Sparrow Therapy System, received FDA clearance in January of 2021 and was designed primarily for use within in-patient clinical settings.
  • Daniel Powell, CEO of Spark Biomedical, stated, "This is a significant milestone for Spark Biomedical and a tremendous step forward in our mission to combat the opioid crisis.
  • Sparrow Ascent represents a breakthrough in the treatment of opioid withdrawal symptoms, offering hope to those navigating the challenging path of recovery.

Spark Biomedical’s second-generation device, Sparrow® Ascent, Receives FDA Clearance for Opioid Withdrawal Relief in Adults

Retrieved on: 
Tuesday, July 11, 2023

Sparrow Ascent is a wearable neurostimulation device designed to provide safe, comfortable, drug-free relief for individuals experiencing opioid withdrawal symptoms.

Key Points: 
  • Sparrow Ascent is a wearable neurostimulation device designed to provide safe, comfortable, drug-free relief for individuals experiencing opioid withdrawal symptoms.
  • Spark’s original product, The Sparrow Therapy System, received FDA clearance in January of 2021 and was designed primarily for use within in-patient clinical settings.
  • Daniel Powell, CEO of Spark Biomedical, stated, "This is a significant milestone for Spark Biomedical and a tremendous step forward in our mission to combat the opioid crisis.
  • Sparrow Ascent represents a breakthrough in the treatment of opioid withdrawal symptoms, offering hope to those navigating the challenging path of recovery.

Spark Biomedical’s second-generation device, Sparrow® Ascent, Receives FDA Clearance for Opioid Withdrawal Relief in Adults

Retrieved on: 
Tuesday, July 11, 2023

Sparrow Ascent is a wearable neurostimulation device designed to provide safe, comfortable, drug-free relief for individuals experiencing opioid withdrawal symptoms.

Key Points: 
  • Sparrow Ascent is a wearable neurostimulation device designed to provide safe, comfortable, drug-free relief for individuals experiencing opioid withdrawal symptoms.
  • Spark’s original product, The Sparrow Therapy System, received FDA clearance in January of 2021 and was designed primarily for use within in-patient clinical settings.
  • Daniel Powell, CEO of Spark Biomedical, stated, "This is a significant milestone for Spark Biomedical and a tremendous step forward in our mission to combat the opioid crisis.
  • Sparrow Ascent represents a breakthrough in the treatment of opioid withdrawal symptoms, offering hope to those navigating the challenging path of recovery.

Chemical adventurers: the science of the mind has a long, colourful history of psychedelic exploration

Retrieved on: 
Monday, July 10, 2023

Whether seeing the world through the eyes of a toad is an experience worth having is an open question.

Key Points: 
  • Whether seeing the world through the eyes of a toad is an experience worth having is an open question.
  • Toad juice (or bufotenine, its active ingredient) is currently experiencing a renaissance, albeit usually in smokable form.
  • Mike Tyson, Hunter Biden and Joe Rogan credit it with life-changing insights that years of amphibian-free therapy could not provide.
  • Review: Psychonauts: Drugs and the Making of the Modern Mind – Mike Jay (Yale University Press) Psychedelics are back in the news.

The early psychonauts

    • Jay excavates a much deeper and more interesting history of early chemical adventurers.
    • In the 1880s, for example, Sigmund Freud self-administered cocaine to test whether it could induce euphoria and recharge the cerebral battery as earlier psychonauts had suggested.
    • Chastened by his colleague’s descent into a vortex of abuse, he set cocaine aside and airbrushed it from his life story.
    • Read more:
      Friday essay: peyotes in suburbia – the secret world of Sydney's psychoactive cacti growers

Substances and society

    • Much of Jay’s book lays out an absorbing history of psychoactive substances, but it is also rich with insights on the broader societal implications of substance use.
    • Once an expansive category, it contracted when “medications” escaped into therapeutic legitimacy, leaving the remaining substances stigmatised and criminalised.
    • More recently, psychedelics have attempted the same manoeuvre, trying to shed the taint of abused drugs to become seen as morally impeccable.
    • Psychedelics have been stereotypically whiter than the substances against which the American war on drugs has primarily been fought, disproportionately targeting minority communities as a result.

Psychonautics and psychology

    • Many early psychonauts were artists, writers and philosophers, but influential psychologists and neurologists were also well represented, notably Freud, James and, decades later, Harvard psychology professor Timothy Leary, a buttoned-down academic researcher before he turned on, tuned in and dropped out.
    • These three writers all found inspiration in their experiences of intoxication, although Freud backed away from his own.
    • Their explorations were supported by approaches to psychology that centred the study of subjectivity.
    • William James worked at a time when subjective experience was central to the nascent field of academic psychology.
    • New psychoactive substances – such as amphetamines, ecstasy and LSD – were synthesised during this period, but the tradition of self-experimentation had died within psychology.

Webinar to Address Impact of Race on Opioid Crisis

Retrieved on: 
Monday, June 26, 2023

The webinar, “The Intersection of Race, Culture and the Opioid Crisis,” will be held at 11 a.m. Thursday, June 29.

Key Points: 
  • The webinar, “The Intersection of Race, Culture and the Opioid Crisis,” will be held at 11 a.m. Thursday, June 29.
  • The webinar will update and expand upon information provided in previous webinars on December 9, 2021, and June 16, 2022.
  • The webinar will be the sixth in the 2023 Knock Out Opioid Abuse Day Learning Series.
  • This webinar will be the third in recent years to focus on the opioid epidemic within the context of race.

Georgia Recovers Relaunches to Amplify Community Voices and Reduce Addiction Discrimination: Changing Knowledge, Attitudes and Behaviors through Personal Testimonials

Retrieved on: 
Thursday, June 22, 2023

The campaign benefits from the wealth of knowledge of Georgians, including community leaders, digital influencers, community organizations, social service agencies, and more.

Key Points: 
  • The campaign benefits from the wealth of knowledge of Georgians, including community leaders, digital influencers, community organizations, social service agencies, and more.
  • Georgia Recovers is a partnership with national nonprofit Shatterproof funded by the Georgia Department of Behavioral Health and Developmental Disabilities (DBHDD) with support from the GC4R.
  • “Thousands of Georgia residents struggle with substance use disorders,” said Laurisa Guerrero, executive director of Georgia Council for Recovery.
  • Georgia Recovers aligns with ongoing statewide initiatives to reduce overdoses, support recovery efforts, and educate the public.