Medicine/Healing

…investors see far out profits…

If you set aside the part about controlled substances, what we’re really talking about here is wide-open commercial space… Oregon became the first state in the U.S. to legalize the use of psilocybin in [adult-use] settings in 2020…

…a few short years ago, the psychedelics industry was nothing more than some progressive investors supporting a few academics doing research… historically, drug commercialization and legalization have gone hand-in-hand. Most states that legalized cannabis for recreational use started with medical marijuana ID cards… it can be argued that the very commercialization of psychedelic-based drugs could butt heads against decriminalization, patent lawyer Graham Pechenik of Calyx Law said. A drug that is chemically different from psilocybin but provides the same effects could, theoretically, be a competitor… in 1994, four years after PiHKAL was published, the Drug Enforcement Administration (DEA) raided Shulgin’s lab, fined him $25,000, and revoked his DEA registration number. Now, almost 30 years later… untangling the… age of psychedelics research from the U.S.’ checkered history of criminalizing drug use has made Brom Rector wary of certain drug startups… venture capitalist… investing… in psychedelic medicine… now Mr. Rector, a former hedge-fund portfolio manager, is raising millions of dollars from scientists, financiers and crypto bros eager to buy into treatments that aren’t even legal yet… “It’s almost like saying the success of our business depends on us continuing to put people in jail for using drugs, which to me is an unconscionable thing,” Rector said… researchers at McGill University in Montreal are among those using natural language processing – the technique that allows voice assistants or search engines to work – to study written “trip reports” of drug users’ experiences. They are betting that hallucinogens will eventually be approved for medical treatment and recreational use, spurring a boom from biotech to the entertainment industry that will far outstrip the… growth of legal cannabis…. he and his colleagues at SUNY Downstate Health Sciences University in New York City and the Broad Institute of MIT and Harvard in Cambridge, Massachusetts, used natural language processing to assess 6,850 written accounts of hallucinogenic drug use. Each account was written by a person who took one of 27 drugs – including ketamine, MDMA, LSD and psilocin – in a real-world setting rather than as part of a lab-based experiment. The accounts were accessed from the website of Erowid… first design a desired state of consciousness and then output the drug capable of producing it… if the patented drug is… similar… it may incentivize pharma companies [et al.] from decriminalizing psychedelics because their drug would compete… Rector said….

Original Article (Crunchbase, Entrepreneur, Wall Street Journal, MIT Technology Review, Benzinga, Vice):
Psychedelics provide new frontier for venture funding, but nuances prevail & The burgeoning psychedelics industry is full of money and good intentions. But can it avoid all of cannabis’s mistakes? & Investors see far out profits in psychedelic medicine & What do psychedelic drugs do to our brains? AI could help us find out & Y combinator startup uses AI to design new drug-induced states of consciousness & The future of psychedelic medicine will be drugs you’ve never heard of
Artwork Fair Use: Public Domain

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