…this is not to rain on the whole psychedelics parade – which potentially promises significant relief for a lot of humans (or at least the ones that can afford treatment).
…the bankrupt or nonoperational Canadian mining companies that have spontaneously converted themselves into psychedelic outfits, thanks to the fact that the companies’ continued “exist[ence] as a legal entity… allows for instant access to the stock market and the ability to raise abundant funds without the scrutiny that an IPO would bring”… Vancouver psychedelics company Numinus Wellness Inc was spawned via a reverse takeover of Rojo Resources Ltd, a mineral exploration firm… Peter Thiel, co-founder of PayPal and Palantir – the firm that helped the US National Security Agency to “spy on the whole world”, as The Intercept put it – has invested heavily in ATAI Life Sciences, a self-defined “clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders”… ATAI was co-founded by billionaire Christian Angermayer… in November 2021, ATAI increased its shares in Compass Pathways, which markets itself as a pioneer in psilocybin therapy for mental illness and is also fiercely invested in by Thiel.
Original Article (Aljazeera):
The legal psychedelics industry: capitalism on drugs
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