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According to Bloomberg, nearly $1.8 billion was raised by psychedelics startups from public and private investors in 2021
Psychedelics are known for being illegal street drugs. However, investors are looking to pile money into startups looking to turn them into medicine.
$ATAI, which is notably backed by Peter Thiel, received the most funding in 2021 at $416 million. GH Research $GHRS received the second most funding at $285 million. Compass Pathways $CMPS, one of Kevin O'Leary's holdings, received the third most funding at $144 million. Kevin O'Leary also owns Mind Medicine $MNMD.
Interestingly, Seelos Therapeutics $SEEL received the fourth most funding however, management has diluted their stock so much that it's now a penny stock with one of the worst returns in the market.
For Field Trip Health, their ticker is $FTRP. $CYBN is the ticker for Cybin.
7 months ago, I wrote an article detailing why psychedelics will become an emerging new class of medicine. In the article, you can learn more about the many benefits that psychedelics have that make them "disruptive" to traditional medicine.
The main way that psychedelics are "disruptive" to traditional medicine is that they hold curative properties and aren't habit-forming. At the same time, there are a lot fewer significant side effects.
Even better, there's research that finds that psychedelics have more potential to be useful as medicine than CBD.
While the market for psychedelics as a medicine is very young and pending legalization in California and other states, some investors, especially some notable ones, aren't afraid to bet big on this space.
Marijuana Moment
California Senator Says Bill To Legalize Psychedelics Possession Has ’50/50′ Chance To Pass This Year
California Sen. Scott Wiener (D) has some big plans for drug policy reform in 2022—and he tells Marijuana Moment that he feels there’s a “50/50” chance that his bill to legalize psychedelics possession will get to the governor’s desk. The senator put a pause on that proposal last year after it cleared the Senate and […]
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