$25m IPO envisioned for ‘magic mushrooms’ to treat depression
A healthcare investment firm that’s backing studies of “magic mushrooms” to treat depression raised $25m of capital…
…already in talks with banks about a potential listing in Canada next year, a step for which it seeks a valuation of $800m or more, according to one of the people familiar with the matter. After being shunned for decades, psilocybin as a possible medical treatment has seen a revival in the past couple of years. Studies published in 2012 by David Nutt and Robin Carhart-Harris of Imperial College London found that the psychedelic reduced activity in the medial pre-frontal cortex, which is hyperactive in depression, and also enhanced volunteers’ recollections of positive personal memories. Nutt is chair of Compass’s scientific advisory board … A study in the Journal of Psychopharmacology said that just two or three experiences with the hallucinogenic drug helped a dozen long-term smokers quit, succeeding in a study where numerous other approaches failed.
Original Article (Business Live.co.za):
$25m IPO envisioned for ‘magic mushrooms’ to treat depression
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