Companies Bank on Psychedelics as Treatments for Mental Health Disorders
BIOMARKER
1. The FDA granted breakthrough status to psychedelic-assisted therapies using both MDMA and psilocybin in 2017.
2. MDMA and psilocybin are currently classified as Schedule I drugs.
3. The U.S. government has expressed interest in exploring these drugs as medicines.
4. Several biopharma companies are developing psychedelics-based treatments for mental health conditions.
5. The psychedelic therapeutics market is expected to be worth $8.31 billion by 2028.
6. MindMed was the first psychedelics-focused pharmaceutical company in the U.S. to go public.
7. Small Pharma announced positive top-line results from a Phase IIa trial of DMT for the treatment of MDD.
8. Sensorium Therapeutics raised $30 million in a Series A financing to develop psychoactive molecules for neuropsychiatric diseases.
9. COMP360, a synthetic form of psilocybin, demonstrated an 86% remission rate in patients with type II bipolar disorder.
10. The most advanced psilocybin-assisted therapy treatments are currently in the beginning stages of Phase III research, so it is unlikely that the FDA will evaluate the treatment for approval before 2025.