Legislators in Vermont have approved a measure that would establish a task force for psychedelic therapy. The group’s primary task would be to recommend how and whether the state should regulate legal access to psychedelic drugs such as MDMA and psilocybin. The legislation is now headed to the governor’s desk.
Last week, the senate approved amended language of the legislation, approving changes made in the house. In its present form, the legislation wouldn’t amend the legal status of any drugs. Rather, the working group would review the latest evidence and research on public-health risks and benefits of clinical psychedelic-assisted therapies and check out programs and laws of other states that have permitted psychedelic use by health-care providers in a therapeutic setting.
At the moment, psilocybin and MDMA both have breakthrough therapy status granted by the U.S. Food and Drug Administration (FDA). Additionally, recently conducted trials have demonstrated MDMA’s efficacy, putting the drug on track for possible approval by the FDA later this year.
In March, state senators approved an earlier version of the measure. These recent revisions were introduced as the bill advanced out of a house committee with a clear-cut change proposed by Representative Anne Donahue. The amendment eliminated a provision that directed that the working group offer opportunities for people with lived experiences to give their testimonies.
The change also removed the positions for members on the task force who represent the Brattleboro Retreat, a psychiatric and addiction hospital, and the Psychedelic Society of Vermont. It replaced these positions with representatives from Vermont Medical Society, a nonprofit, and the state Department of Mental Health.
In addition, the change eliminated a provision that would have directed that the task force offer possible timelines for equitable and universal access to psychedelic-assisted therapies while also assessing psychedelic criminalization in the state. As introduced originally, the bill would have legalized the possession and use of psilocybin. Legislators on the Senate and Welfare Committee removed this section during discussions and elected to focus on the therapeutic task force.
If enacted, the bill would establish an overdose prevention center that would have onsite professionals trained in overdose interventions, CPR, first aid and wound care, as well as medical evaluations to determine need for more emergency care. Vermont would also become the third state to permit the establishment of these facilities, after Minnesota and Rhode Island. Other states such as New York are also looking into similar programs that could be launched statewide.
The growing wave aimed at reforming psychedelics laws around the country is likely to be motivating start-ups such as Mind Medicine Inc. (NASDAQ: MNMD) (NEO: MMED) (DE: MMQ) to ramp up their psychedelic drug-development programs so that they can serve a public that is yearning for novel treatments against mental-health issues and other physiological ailments with underserved medical needs.
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