This past quarter has been, without a doubt, the busiest and most transformative three months of this year— perhaps even of the entire history of the psychedelic industry. Of all the major developments, the release of the MAPP2 phase III clinical trial results was the biggest. The founder and president of MAPS is like the father of the modern psychedelic industry. Most companies in this space have only been around for about 3-5 years. However, Rick Doblin started MAPS 38 years ago. 

The culture of passion for psychedelics fizzled out and dove underground once they were made illegal. But, Doblin never stopped fighting to bring these compounds back into the mainstream. In a recent interview, Numinus CEO Payton Nyquvest said: “We’re all here because of MAPS.” He is right— the entire legal psychedelic market is following a path that is currently being forged by Rick Doblin and the work he is doing through the non-profit which he gave life to. 

So much hangs on the ability of this one man to design the path forward. If successful, Doblin and his team will be the first to ever get a psychedelic drug FDA-approved, and they will pave the way for other companies to do the same. And, most importantly, It will pave the way for clinics to bring novel treatments to people in need.

While there is a significant amount of research, business dealings, and overall growth in the industry, ultimately, everyone is waiting to see if a psychedelic drug can make it all the way to FDA approval. There is a lot depending on this. Millions of dollars have already been invested into programs that follow this path that Doblin is still yet to complete. He is, however, close to the end of the road. 

The industry continues to work tirelessly to build services and products that will support the medicalization of psychedelics. Biotech companies are pushing their own psychedelic drugs through the FDA process. Clinic and education companies are preparing to support the rollout of these therapies. Media companies are perpetuating a shift in public perception of these once-ostracized compounds. Novel data and technology platforms are being developed to support the growth of the industry. And, investors are pumping money into all of these spaces to ensure that the psychedelic industry has the foundation that it needs to reach its full potential. We are excited to offer you a complete picture of the growth of all of these areas of the industry in our 3rd quarter report.

Regardless of the MAPS news, this was a huge quarter for the industry. Big Pharma company Otsuka acquired psychedelic biotech company Mindset Pharma. This was the biggest acquisition in the psychedelic industry to date. However, it was not the only one this quarter. There was a lot of M&A action this quarter. These business transactions start to offer a more focused picture of how the psychedelic industry is beginning to weave itself together.

This was also a major time for psychedelic policy. There was a lot of news regarding new psychedelic legislation on a state and federal level these past few months, and it has made one thing clear— psychedelics are a bipartisan issue. Several of the politicians pioneering these efforts to increase psychedelic access hail from the republican party. Rick Perry and Dan Crenshaw have been major proponents of increasing psychedelic access for Veterans struggling with PTSD.

This overview only touches the tip of the iceberg when it comes to the news and events of the psychedelic industry these past three months. Quite frankly, this quarter has been enough to make anyone’s head spin. Keeping up with the developments of this industry that is moving so quickly can be a challenge. That is why we have put together this report. It covers everything you need to know from Q3 to ensure a full understanding of the state of the industry. Whether you are an investor, therapist, politician, scientist, or any other position within the psychedelic space, this report is designed to give you a full understanding of this complex, emerging industry. 

The full report will be available next week, so stay tuned. While you wait, here are the highlights from this past quarter. 

Q3 Highlights

  • MAPP2 Phase III readout confirms data that shows MDMA is effective in treating PTSD. MAPS will now prepare to submit an Investigational New Drug Application to the FDA by the end of the year.
  • The Psychedelic Index continues to fall, though large amounts of capital are still being pumped into the industry.
  • Search traffic for psychedelic topics has been down significantly this quarter.
  • More proposed regulation changes regarding psychedelics than ever before in US history. 
  • The psychedelic industry had its first big pharma acquisition, showing promise that these alternative medicines have the potential to move into the mainstream medical space.  
  • Cybin to acquire Small Pharma in perhaps the second biggest acquisition in the industry to date. The acquisition gives Cybin one of the most comprehensive IP portfolios in the industry. 
  • Awakn Life Sciences prepared for the first-ever phase 3 psychedelic trial to receive government funding. The trial will be testing the company’s ketamine drug for the treatment of alcohol use disorder.