Psychedelic Drugs “Far Outweigh” the Potential of Cannabis – fr

Psychedelic Drugs “Far Outweigh” the Potential of Cannabis – fr

Daniel Carcillo, CEO of Wesana Health, is a living example of the power of psychedelic drugs to help people with mental illnesses when standard treatments – and other forms of alternative treatments – have already failed. The former National Hockey League player says he was on the verge of suicide following a head injury he suffered as a professional athlete.
“Nothing worked,” Carcillo said at Tuesday’s CNBC Healthy Returns summit, which included everything from standard medicine to isolation tanks. “I started making plans to weigh down my family and kill myself. I thought I had tried everything. “

Next, Carcillo discovered various alternative mushroom-based medical treatments for inflammation and well-being, such as Lion’s Mane and Turkey Tail, and psilocybin – the compound of “magic” mushrooms – the latter of which the former player of the NHL credits saving his life.

He says the day after a psychedelic trip in the right setting, he woke up feeling what he hadn’t felt in years: normal. And within two weeks, her symptoms eased before “practically disappearing.”

Medicinal uses for psilocybin include depression, PTSD, and other mental disorders, and as more clinical data comes in, a recent wave of public offerings has raised billions of dollars for the field. emerging from mental health.
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“I found myself more connected to myself and to others around me. I have three young children under the age of six and all I wanted to do was give them a hug and be reunited with my beautiful wife, ”said Carcillo of CNBC Healthy Returns. His penchant for negative self-talk turned into positive self-talk – “Many incredibly destructive thought patterns were gone in two weeks,” he recalls – and today he no longer suffers from anxiety and of depression.
Her experience is anecdotal, but it is supported by a growing body of clinical research on the use of psychedelics to treat a variety of mental health issues, including depression and post-traumatic stress disorder. Recent publications in the New England Journal of Medicine and Nature Medicine detailed the latest encouraging findings on MDMA and psilocybin as potential breakthroughs in mental health drugs.

The data caught the attention of Wall Street and investors, including Kevin O’Leary, co-host of “Shark Tank” and chairman of ETF O’Shares.

It is a whole new area of ​​medicine with incredible potential.
Companies such as Wesana Health, Compass Pathways, MindMed, and Field Trip Health are part of an emerging class of equity issues that, while being high risk, are raising billions of dollars based on a level of pledge that , according to O’Leary, is real.

“The potential of psychedelics far exceeds the potential of cannabis,” O’Leary said Tuesday at CNBC’s Healthy Returns Summit.

The investor said he was looking at new uses of illicit drugs in a “pragmatic” way and that as an investor it made more sense for him to bet on psychedelics where research increasingly shows the medical efficacy, rather than placing commercial bets on the recreational use of drugs which are still illegal in many jurisdictions.

“What interested me was the scale and size of the market,” O’Leary said. “These opportunities have been ignored since the 1960s.”

O’Leary has invested in MindMed and Compass Pathways because over the past year and a half, market acceptance of psychedelic use in medicine has increased dramatically and several clinical trials have progressed.

“This is a whole new area of ​​medicine with incredible potential,” O’Leary said, adding that the way investors should view it is based on the fact that we haven’t had any new mental health drugs approved for decades.

O’Leary said investors should also remember that these are fledgling companies with a high degree of risk and clinical trials can have binary results that can lead to a billion dollar drug. or a business going from zero. He diversified his bets and said his preference was for overweight companies with multiple trials underway, which led him to a larger stake in MindMed than Compass Pathways.

“It’s an exciting space. How often do you invest in something that has never been done before? ” he said.

Recent Wall Street estimates for psilocybin as a mainstream mental health treatment option – in particular, for treatment-resistant depression – peak annual sales in the order of $ 1 billion to $ 5 billion, and a US patient market size of between two million and four. millions of people. An analyst who covers the space recently told CNBC that investors shouldn’t be rushing into the space, but if they have an existing risk tolerance for the biotech industry, psychedelic medicine could be a part of it. this allowance.

Dr Sharmin Ghaznavi, associate director of Mass General Hospital’s Center for the Neuroscience of Psychedelics, said that as a psychiatrist she has been at the forefront of the damaging consequences of mental illness on individuals and the stories that continue to unfold. producing with patients who have “incredible responses” to psychedelics.

“For far too many patients, current treatments are inadequate or not helping at all, and we owe it to these patients to explore the promise of these compounds,” Ghaznavi said. She added that the medical community also owes these patients to exercise due diligence. “This is the start… there is a lot we don’t know,” she said, including which drugs are best for the right patients, and in what dosages and treatment settings. “We need rigorous research in the years to come to optimize treatment delivery, maximize benefit and minimize harm.

Carcillo said it’s critical to keep collecting the data and letting it inform decision-making and how we set up these experiments. “It will really show us what these drugs can do,” he said. “We just want to be a company that is focused on supporting neurological wellness through the right pathways and finding these drugs to treat a wide variety of ailments,” he said, from TBI to PTSD, anxiety and depression.

He cited the example of pioneering psychedelic researcher Rick Doblin at MAPS, who this week released his most rigorous clinical trial data on MDMA for the treatment of PTSD, a milestone for the industry, and he said that companies should stay “close to the roadmap they” have used. “

Wesana plans to file for FDA clearance and approval in Canada in the fourth quarter.

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