Mikhal Dekel

Senate Bill Decriminalizing Psychedelics Could Help Reverse Some 'War on Drugs' Impacts

Retrieved on: 
Wednesday, September 22, 2021
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If passed, Senate Bill 631 would allow the possession, cultivation, and delivery of mescaline and psilocybin.

Key Points: 
  • If passed, Senate Bill 631 would allow the possession, cultivation, and delivery of mescaline and psilocybin.
  • In addition, the bill will allow practitioners to charge for counseling and spiritual guidance if they use an entheogenic plant or fungus.
  • Tryp'sIND application has details on the safety of the drug product, the study protocol, informed consent information for patients, and additional information.
  • The company expects that the psilocybin oral formulation will increase neuroplasticity and therefore, help create healthy neural patterns of hunger and eating.

Senate Bill Decriminalizing Psychedelics Could Help Reverse Some 'War on Drugs' Impacts

Retrieved on: 
Wednesday, September 22, 2021
Ketamine, Therapy, Securities Act of 1933, OTCQB, Mikhal Dekel, Review, Regulation of tobacco by the U.S. Food and Drug Administration, Private Securities Litigation Reform Act, MSC, FNM, University, Mental health, CMPS, IND, Safety, Psychotherapy, Industry, Food, News, Survival rate, Behavior, NOT, Senate, IP, CEO, Topical steroid withdrawal, M.D, Eating, Prader–Willi syndrome, Mescaline, Orphan drug, Hunger, Annual report, Solution, NASDAQ, U.S. Securities and Exchange Commission, FDA, Caregiver, Lists of diseases, Degenerative disease, Forward-looking statement, NEO, Agitation, Patent, Chronic pain, Security (finance), Investigational New Drug, CSE, Patient, Compass, Form 10-K, Legislation, Trial of the century, ANY, Article, ALS, Research, Securities Exchange Act of 1934, Binge eating disorder, Psilocybin, Pharmaceutical industry, Financial adviser

NEW YORK, Sept. 22, 2021 /PRNewswire/ -- The global need for effective mental health treatment has led to the growing push for the legalization of psychedelic therapies, pushing the market into the mainstream. Last week, Michigan Senator Jeff Irwin introduced legislation that would decriminalize the use of mescaline and psilocybin. If passed, Senate Bill 631 would allow the possession, cultivation, and delivery of mescaline and psilocybin. In addition, the bill will allow practitioners to charge for counseling and spiritual guidance if they use an entheogenic plant or fungus. This legislation coupled with the growing body of research that proves the effectiveness of psychedelics against mental health conditions is among the reasons pushing the psychedelic market towards $69 billion by 2026 . As this happens, companies like Tryp Therapeutics (CSE:TRYP) (OTCQB:TRYPF), Cybin Inc. (NEO:CYBN), Compass Pathways (NASDAQ:CMPS), PhamaTher (OTCQB:PHRRF) (CSE:PHRM), and Mind Medicine (MindMed) (NASDAQ:MNMD) (NEO:MMED) are pushing R&D efforts to develop and test psychedelic therapies for different health conditions. 

Key Points: 
  • If passed, Senate Bill 631 would allow the possession, cultivation, and delivery of mescaline and psilocybin.
  • In addition, the bill will allow practitioners to charge for counseling and spiritual guidance if they use an entheogenic plant or fungus.
  • Tryp'sIND application has details on the safety of the drug product, the study protocol, informed consent information for patients, and additional information.
  • The company expects that the psilocybin oral formulation will increase neuroplasticity and therefore, help create healthy neural patterns of hunger and eating.