Utah Legislators Advance Approved Psychedelics Bill to Governor’s Desk

Last week, legislators in the state of Utah sent a measure to the governor that would establish a task force to conduct research on the therapeutic potential of various psychedelic substances and make recommendations on potential regulations for their legal use. The bill, which was introduced by Rep. Brady Brammer, was passed by both the House and Senate, with 68 to 1 and 23 to 1 votes respectively. It remains unclear where the state’s governor, Gov. Spencer Cox, stands on this issue.

The recommendations made by the panel on these substances, which are defined as controlled substances under the Controlled Substances Act, will be helpful in the treatment of a number of mental health conditions. These substances, which are not available for legal use currently, may be useful in the alleviation, management or treatment of symptoms of mental illnesses.

During prior interviews, Brammer revealed that he had  studied existing research on entheogenic substances and found evidence to suggest that these substances held treatment benefits for addiction, existential distress, post-traumatic stress disorder and treatment resistant depression.

The measure states that the recommendations given by the task force should discuss the types of symptoms that a specific drug may treat, the drug’s administration and dosage, how the substance can be obtained, training and licensing, data tracking, safety requirements and any other proposed rules that lawmakers should consider when the drug is made legal for the treatment of mental health conditions.

This news in Utah comes as more individuals become aware of research into and evidence about the therapeutic potential of entheogenic substances across the country; it also indicates how the decriminalization movement is spreading around the country. For instance, a Senate committee in Oregon recently passed a measure which would ensure that equity was integrated into its therapeutic psilocybin program, which is currently being implemented.

In Hawaii, a Senate Committee passed a bill that would set up a state working group to carry out studies on the therapeutic benefits of magic mushrooms and come up with a long-term plan to make certain that psilocybin was accessible by individuals aged 21 and above for medical use. Additionally, legislators in Oklahoma passed a resolution that would promote studies on the therapeutic potential of psilocybin and decriminalize its low-level possession.

Last month, a GOP lawmaker in Missouri tabled a measure that would give state residents suffering from severe conditions legal access to different psychedelic drugs, including LSD, ibogaine and psilocybin, through the state’s expanded right-to-try law.

This growing wave of campaigns to enact psychedelic policy reforms across the country is a good sign for biotech firms such as Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF), which are investing heavily into developing different medicines from various psychedelic compounds, including psilocybin.

NOTE TO INVESTORS: The latest news and updates relating to Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) are available in the company’s newsroom at https://ibn.fm/MYCOF

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