Psychedelic Therapeutics Market May Receive Federal Approval Before Marijuana Does

In a recent interview, Palo Santo cofounder and partner Tim Schlidt stated that he believed that the federal legalization pathway for psychedelics was much smoother than cannabis’ approach. Palo Santo is a psychedelic investment fund, and Schildt has been working to help increase the supply of clinically effective and accessible addiction and mental health treatment solutions.

This comes as psychedelic therapeutics gain more recognition in the mainstream medical space. However, there’s still concern that these treatments may have negative outcomes in the longterm.

When asked about whether the psychedelic therapeutics market could in the future outpace the marijuana market, Schlidt stated that from a market sizing standpoint, if marijuana could replace alcohol, its market potential would be huge. However, he continued, from a regulatory perspective, the psychedelic market would most probably outpace marijuana, as the pathway to federal legalization for this particular market was much better than the approach being taken by the marijuana market.

Schlidt explained that this was despite the now-prescribed medications such as Xyrem, Syndros, Marinol and Epidiolex, which were rescheduled after receiving approval from the FDA. If marijuana was to achieve federal legalization, he continued, most states would have to give up their tax revenue generated from the marijuana market, which was easier said than done.

Schildt explained that he expected to see a complex patchwork of federal regulations vs. state regulations for the federal legalization of marijuana, which isn’t what the psychedelics market would deal with. He argued that the psychedelics market would definitely outpace the marijuana market in terms of its timeline to market given the advancements that had already been made.

For instance, Compass Pathways is advancing a psilocybin treatment for the management of treatment resistant depression, which will likely hit the market in 2025. MAPS is also advancing an MDMA treatment for post-traumatic stress disorder, which will probably hit the market next year.

Schlidt noted that we’d see psychedelic treatments being prescribed for various medical applications in a couple of years. With regard to concerns about the potential for abuse of psychedelics, he stated that psychedelics were much better than most known medications prescribed for a number of indications. He then explained that, for classic psychedelics such as psilocybin, mescaline and LSD, there is no physical dependency because these drugs were serotonin based instead of dopamine based, which means they didn’t induce addictive behavior. Medications that activate an individual’s reward system, which operates on the dopamine neurotransmitter, tend to have more potential for abuse.

Given the fact that leading psychedelics industry companies such as Cybin Inc. (NYSE American: CYBN) (NEO: CYBN) have opted to focus on the medicinal rather than recreational use of psychedelics, there is likely to be less resistance to the legalization of psychedelics since their administration will occur in clinical settings only.

NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (NYSE American: CYBN) are available in the company’s newsroom at https://ibn.fm/CYBN

About PsychedelicNewsWire

PsychedelicNewsWire (PNW) is a specialized content distribution company that (1) aggregates and distributes news and information on the latest developments in all aspects and advances of psychedelics and their use, (2) creates PsychedelicNewsBreaks designed to quickly update investors on important industry news, (3) leverages a team of expert editors to enhance press releases for maximum impact, (4) assists companies with the management and optimization of social media across a range of platforms, and (5) delivers unparalleled corporate communication solutions. PNW stays abreast of the latest information and has established a reputation as the go to source for coverage of psychedelics, therapeutics and emerging market opportunities. Our team of seasoned journalists has a proven track record of helping both public and private companies gain traction with a wide audience of investors, consumers, media outlets and the general public by leveraging our expansive dissemination network of more than 5,000 key syndication outlets. PNW is committed to delivering improved visibility and brand recognition to companies operating in the emerging markets of psychedelics.

To receive instant SMS alerts, text “Groovy” to 888-902-4192 (U.S. Mobile Phones Only)

For more information please visit https://www.psychedelicnewswire.com

Please see full terms of use and disclaimers on the PsychedelicNewsWire website applicable to all content provided by PNW, wherever published or re-published: https://www.psychedelicnewswire.com/Disclaimer

Do you have questions or are you interested in working with PNW? Ask our Editor

PsychedelicNewsWire (PNW)
San Francisco, California
www.psychedelicnewswire.com
415.949.5050 Office
Editor@PsychedelicWire.com

PsychedelicNewsWire is part of the InvestorBrandNetwork

Archives

Select A Month

PsychedelicNewsWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 415.949.5050