The first companies developing medical treatments from psychedelic drugs like LSD, ketamine and the active ingredient in magic mushrooms are gearing up to list on Canadian stock exchanges.
“Our ambition is to be one of the first publicly listed neuro-pharmaceutical companies developing psychedelic medicines,” Rahn said in a phone interview. In late 2018, the FDA gave “breakthrough therapy” status to a psilocybin treatment developed by London-based Compass Pathways Ltd. for clinical depression, expediting the development process.
The Canadian Securities Exchange, which has become the go-to bourse for U.S. cannabis companies that can’t list in their home country, is also expecting listings from psychedelic drug companies in 2020. Last week, Field Trip closed a Series A financing round that raised US$8.5 million from a variety of investors including cannabis-focused asset manager Silver Spike Capital and Harris Fricker, the former CEO of GMP Capital Inc., which helped a number of marijuana companies go public.
Someone’s already trippin’
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Is Canada set to distribute psychedelic drugs and make tax revenue ?
but there's no slippery slope