…recalls his postdoc years, when his father advised him that psychedelic medicine would be “the kiss of death” for his career. Around 2016, however, there was a major shift around findings showing profound antidepressant and anxiolytic effects among people with advanced stage cancer… another tipping point was the publication of Michael Pollan’s book How to Change Your Mind (in 2018). “Suddenly, everybody’s grandmother was reading about psychedelics,” he says.
Not surprisingly, industry interest has exploded in recent years. For a long time, there were only a handful of companies in the space. Around 2018–19, there was “a mushrooming of companies,” to the point there are now several hundred biotech startups, according to Nichols. A lot of money came from the cannabis industry. “It was this perfect storm of public interest in psychedelics, a bunch of cannabis billionaires who were looking for the next big thing and entrepreneurs saying, let’s get this,” he added, while noting there is not surprisingly some contraction and attrition going on.
Original Article (Genedge):
No hallucination: the launch of psychedelic medicine
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