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Why the North America Psychedelic Drugs Market is Expected to Grow With the Fastest CAGR for Next Several Years

Palm Beach, FL – June 8, 2021 – The illegal drugs of the 1960’s are becoming highly valued drugs for various new therapeutic uses across a growing list of maladies. The door of previously prohibited drugs has been opening and it appears that there will be more treatments, more surprises and more revenues as the door continues to open. Psychedelic drugs involve various types of chemical substances including LSD and chemical extracted from plants. Psychedelic drugs have the ability to change or enhance the sensory perceptions, thought processes, energy levels and have also been reported to facilitate spiritual experiences. Psychedelic drugs can be categorized into empathogens and dissociative drugs (such as PCP) and serotonergic (classic hallucinogens) such as LSD. The rising prevalence of mental depression and anxiety and availability of off-label drugs are the major drivers which has propelled the demand of the psychedelic drugs market in the next several years.  A report from Data Bridge Market Research projected that the psychedelic drugs market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 11.5% in the forecast period of 2021 to 2028 and is expected to reach USD 6,433.94 Million by 2028.  Active companies in the markets this week include: COMPASS Pathways plc (NASDAQ: CMPS), Silo Pharma, Inc. (OTCQB: SILO), MindMed Inc. (NASDAQ: MNMD), Numinus Wellness Inc. (OTCPK: LKYSF) (TSXV: NUMI), Cybin Inc. (OTCQB:CLXPF) (NEO:CYBN).

 

But another report from ResearchAndMarkets shows even more optimism in the market prediction that The Psychedelic Drugs Market size is projected to reach USD 10.75 Billion by 2027, from USD 4.75 Bn in 2020 growing at a CAGR of 12.36% during 2021-2027.  The awareness campaigns have encouraged people to select appropriate treatment for mental disorders procedures and professionals which is increasing the demand of psychedelic drugs and the rising awareness towards mental health is acting as a driver for the psychedelic drugs market… Increasing research and development expenditure in the psychedelic drugs is creating new opportunities in the psychedelic drugs market, thus increasing R&D activities in psychedelic drugs is acting as an opportunity for the growth of the psychedelic drugs market.”

 

Silo Pharma, Inc. (OTCQB: SILO) BREAKING NEWS:  Silo Pharma Announces Collaboration with University California San Francisco to study Psilocybin as an Anti-Inflammatory agent in  Parkinson’s and Bipolar Patients – Silo Pharma, Inc., a development-stage biopharmaceutical company focused on the use of psychedelics as a therapeutic, is pleased to announce that it has entered into a Scientific Research Agreement (SRA) with the University of California San Francisco (UCSF). This SRA will leverage four other clinical trials being planned by the university, to determine the effects of psilocybin on inflammatory markers of patients who have exhibited Parkinson’s, Bipolar disorder, and chronic back pain.

 

Eric Weisblum, CEO of Silo Pharma commented “Inflammation is a common mechanism across numerous physical diseases. Inflammation has specifically been implicated in the pathophysiology of Parkinson’s Disease, chronic pain, and bipolar disorder.  Psilocybin and related compounds have shown strong anti-inflammatory effects in non-human animals, raising the possibility that reducing inflammation is a possible mechanism underlying psilocybin’s positive treatment effects in multiple disorders. A better understanding of the anti-inflammatory effects of psilocybin has potential to allow for optimization and personalization of psilocybin treatment.”

 

The study will take place at The Translational Psychedelic Research (TrPR) Program at UCSF.  The TrPR brings together scientists and care providers across disciplines to understand how psilocybin, LSD, ketamine, MDMA, and related compounds impact the brain and other organ systems.  The goal at TrPR is to accelerate progress towards impactful and accessible psychedelic treatments.  For more information, visit www.silopharma.com

 

For more information about SILO please click here http://bit.ly/silo-news-6-8

 

Other recent developments in the markets include:

 

COMPASS Pathways plc (NASDAQ: CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, has recently reported further results from a phase I study showing that its COMP360 psilocybin had no clinically-relevant negative effect on cognitive function, when administered to healthy adult volunteers with support from specially trained therapists.

 

The data from the randomized, double-blind, placebo-controlled, phase I trial conducted at King’s College London, will be presented today at the American Society of Clinical Psychopharmacology (ASCP) Annual Meeting, by Dr James Rucker, Consultant Psychiatrist and Senior Clinical Lecturer in Psychopharmacology at King’s College London’s Institute of Psychiatry, Psychology and Neuroscience (IoPPN). Initial results from the study were published in December 2019. The results published today present a more in-depth analysis of cognitive data and showed some trends of positive effects, but these were minor and call for further exploration in clinical populations.

 

MindMed (NASDAQ: MNMD), a leading psychedelic medicine biotech company, recently announced the publication of the first pharmacogenetic data on LSD to help personalize dosing. The study results from a pooled secondary analysis of four Phase 1 studies that each used a randomized, double-blind, placebo-controlled, crossover design and were conducted at the University Hospital Basel Liechti Lab, in Basel, Switzerland.

 

The results of this study indicate that pharmacogenetic testing prior to LSD-assisted treatment may inform LSD dose selection at the individual patient level.  Dr. Matthias Liechti said, “This is the first data on the pharmacogenetics of LSD. The results indicate that a test of the metabolic function of a patient by CYP2D6 phenotyping and genotyping can be used to adjust the dose of LSD. Such information is important for the further development of LSD into a medication and could ultimately help to personalize patient treatment.”

 

Cybin Inc. (OTCQB:CLXPF) (NEO:CYBN), a biotechnology company focused on progressing psychedelic therapeutics, recently announced the sponsorship of Kernel’s feasibility study of its Kernel Flow technology to measure Ketamine’s psychedelic effect on cerebral cortex hemodynamics.

 

On January 11, 2021 Cybin announced that it would be partnering with Kernel to leverage Kernel’s proprietary Kernel Flow device for psychedelic-based studies and clinical trials. The Kernel Flow device is the first-of-its-kind that uses quantitative neuroimaging technology that can measure brain activity in real time using a wearable helmet during psychedelic treatments.

 

Numinus Wellness Inc. (OTCPK: LKYSF) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, and Optimi Health Corp. (CSE: OPTI) (OTC: OPTHF) (FRA: 8BN), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, have met another early milestone in the development of an initial all natural psilocybin extract.

 

Optimi and Numinus, through Impact Clinical Trials Accelerator at the University of Calgary (“Impact”), have submitted a pre-clinical trial application to Health Canada for review and comment. Meanwhile, cultivation, research, formulation and continuous validation studies to produce the investigational psilocybin extract for trial continue at the Health Canada-licensed Numinus lab in British Columbia, Canada.

 

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 has been compensated twenty six hundred dollars for news coverage of the current press releases issued by Silo Pharma, 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.

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Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

 

SOURCE Financialnewsmedia.com

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