ATLANTA, April 20, 2021 (GLOBE NEWSWIRE) -- If you had a time machine and could go back to the first day of 2020, you would find that very few people were talking about psychedelics and their potential to save lives. OTC Stock Review introduced a large number of investors to the psychedelic sector with an article on Seeking Alpha March 6, 2020 titled "Psychedelic Medicine Stocks Capture the Attention of Investors." Even though several of today’s market leaders were not public last March, since then several of the stocks covered in the article have made five and ten fold moves. Fast forward to April 2021 and you will find a whole bunch of people who got a shell and slapped a label on it saying it is a psychedelic company. Even though the psychedelic sector is poised for growth and has been red hot, don't forget that all that glitters is not gold.
We have said it before, and we will say it again, the real money in psychedelics will be made from FDA approved drugs for the treatment of depression and mental health. That being said, the big winners in the next phase of psychedelic medicine will be the companies that are building their own platforms, technologies, and apps to not only provide better patient outcomes, but also provide research and data to medical professionals, so they are more comfortable with psychedelic medicine treatments for mental health and addiction. The focus of this article will be on companies that are building their own platform and can measure psychedelic assisted therapy's influence and impact on patient communities.
Investment banks like Canaccord Genuity Group, Eight Capital, Gravitas Securities Inc., and Mackie Research Capital Corporation are also taking an interest by raising capital for psychedelic companies. The opening credits are on the screen, so grab a seat. Companies like Mind Medicine (MindMed) Inc. (OTCQB: MMEDF), Ehave, Inc. (OTC Pink: EHVVF), COMPASS Pathways plc (NASDAQ: CMPS), and Mydecine Innovations Group Inc. (OTC: MYCOF) are four great picks that could steal the show.
Depression affects more than 264 million people worldwide, and mental health experts have found a strong link between loneliness, depression and drug overdoses. According to national drug abuse data, drug overdoses have increased 42% since the Covid-19 pandemic began. Psychedelic-assisted psychotherapy could provide needed options for debilitating mental-health disorders including PTSD, major depressive disorder, alcohol-use disorder, anorexia nervosa and more that kill thousands every year in the United States, and cost billions worldwide in lost productivity.
MindMed (OTCQB: MMEDF) offers the broadest and most diversified pipeline of psychedelic drugs in clinical development and R&D. According to the investor deck on MindMed's website, the Company estimates there is a $100+ billion global total addressable market for psychedelics. MindMed recently announced it would establish a digital medicine division known as Albert to research, develop and build an integrated technical platform and comprehensive toolset aimed at delivering psychedelic inspired medicines and experiential therapies combined with digital therapeutics. The Albert platform aims to have a team of technologists, therapists, and clinical drug development experts to help the Company research, develop and build an integrated technical platform and comprehensive toolset aimed at delivering psychedelic inspired medicines and therapies combined with digital therapeutics. The potential to pair digital tools, which may include wearables and the latest in machine learning, with psychedelic assisted therapies, can give healthcare providers the ability to optimize and better understand the patient journey and therapeutic outcomes from pre-care through after-care.
In February 2021, MindMed completed the acquisition of HealthMode to build out the Albert division. HealthMode is a digital medicine and therapeutics startup that uses Artificial Intelligence (AI)-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring. With the acquisition, MindMed has gained access to HealthMode’s intellectual property, platforms for clinical drug trials, and its entire twenty-four-person digital medicine team. MindMed will incorporate HealthMode’s machine learning engineering, product development, and operations employees based in Silicon Valley, New York City, Bratislava and Prague into Albert. You can find more information on MindMed at https://mindmed.co.
Ehave, Inc. (OTC Pink: EHVVF) is a provider of digital therapeutics for the psychedelic and mental health sectors. In fact, Ehave was a digital therapeutics company before anyone knew anything about digital therapeutics. The Ehave Dashboard has been developed through years of testing with mental healthcare professionals at one of Canada’s largest hospitals. It is a data driven platform that has been strategically developed to provide better communication among medical practitioners and health care providers. Ehave's Dashboard is also a key component of its ketamine home delivery platform known as KetaDASH www.ketadash.com. The backbone for KetaDASH will be Ehave’s expertise in the area of digital therapeutics, which has been developed through years of testing in the area of mental healthcare. Ehave’s digital therapeutics insight will empower patients, healthcare providers, and payers to address a wide range of conditions through high quality, safe, and effective data-driven involvement with intelligent and accessible tools. After years of continued work to develop its proprietary digital therapeutics technology, Ehave is ahead of other psychedelic companies that are in the process of building integrated technical platforms and comprehensive toolsets to deliver psychedelic inspired medicines and experiential therapies combined with digital therapeutics.
Research has indicated ketamine is the most significant new development in psychiatry given its high efficacy for treating major depression. Many studies have shown that in addition to depression, ketamine could be a potential treatment for obsessive-compulsive disorder, post-traumatic stress disorder, and several other treatment-refractory neuropsychiatric disorders. Ketamine was originally approved as an anesthetic and safe alternative to phencyclidine by the US Food and Drug Administration (FDA) in 1970. In 2000, researchers concluded that ketamine is a fast-acting that also provides long-term effects. Many of the depression treatments available today are monoaminergic-based. These treatments include monoamine oxidase inhibitors, tricyclic antidepressants, selective serotonin reuptake inhibitors, and serotonin-norepinephrine reuptake inhibitors. These treatments have worked well for many patients, but many patients with major depressive disorder do not respond to these agents. When compared with ketamine, these treatments can sometimes take up to several weeks to work. One dose of ketamine has proven effective at producing fast, long-lasting effects within hours to days of administration. As a result of this positive research, and the recent FDA approval of intranasal ketamine, there is tremendous potential for ketamine or ketamine-like treatments to improve the quality of life for patients with depression who do not respond to current treatments.
KetaDASH will provide a platform for medical practitioners to administer ketamine intravenously to patients at home, though it has not yet been approved by the FDA to treat depression. Ehave will provide Ketamine clinics and medical practitioners with software, staffing, protocols, and equipment as part of the KetaDASH platform. Ehave’s Dashboard is being designed as a smart and intuitive for KetaDASH that simplifies the process of gaining detailed insight on the effect ketamine therapy is having on patients. Patients will be able to create a profile, check availability of administering nurses, and schedule appointments. You can find more information on Ehave, Inc. at www.ehave.com.
COMPASS Pathways plc (NASDAQ: CMPS) is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health. COMPASS Pathways is pioneering the development of a new model of psilocybin therapy, in which its proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support. COMP360 has been designated a Breakthrough Therapy by the US Food and Drug Administration for treatment-resistant depression. The Company is currently conducting a phase IIb clinical trial of psilocybin therapy for TRD in 22 sites across Europe and North America. On September 18, 2020 Compass came public at $17.00 per share and has traded as high as $61.69, after an $80 million private financing round. The private round included PayPal co-founder, Peter Thiel.
COMPASS Pathways has developed an online learning platform to train therapists. The training program has been designed by leading experts from the fields of psychology, psychiatry and psychedelic therapy research. The online learning platform is currently being used to train therapists taking part in COMPASS Pathways' phase IIb clinical trial of COMP360 psilocybin therapy for treatment-resistant depression, as approved by the FDA, as part of its Investigational New Drug Application (IND). All of COMPASS Pathways' therapists must be registered mental health professionals. They are typically mental health nurses, clinical psychologists, or psychiatrists with experience in counselling or psychotherapy. Therapists are chosen based on core qualities of compassion, openness, presence, and motivation to help patients. The core training curriculum in the online learning platform consists of 10 plus hours of self-paced online learning through COMPASS Pathways' Shared Knowledge Platform; five days of interactive learning focused on role-play and feedback; clinical training while supporting participants in at least four psilocybin research sessions, under the guidance of experienced therapists, at partner academic institutions; and continuous professional development through ongoing mentoring, clinical supervision, and monthly webinars. You can find more information on COMPASS Pathways plc at www.compasspathways.com.
Mydecine Innovations Group Inc. (OTC: MYCOF) is dedicated to the development and production of adaptive pathway medicine, natural health products and digital health solutions stemming from fungi. The Company also has a Mindleap Health subsidiary that owns a telehealth platform. Mindleap users can browse vetted and experienced specialists, schedule appointments, and purchase mental health services. Specialists benefit from the Mindleap platform by having much more freedom than if they were keeping regular office hours. By utilizing the Mindleap platform, these specialists have an opportunity to operate a virtual practice on their own terms. The Mindleap platform allows them to set their own prices and choose the hours they work each week.
According to a company issued press release, Mindleap is the world’s first telemedicine platform uniquely designed to offer psychedelic integration services and currently has over 30 professionals available to offer mental health support to clients. Psychedelics offer a window into the mind, and integration specialists help clients through a systematic process that can turn their psychedelic experience into something practical. This can include helping make sense of unique images or ideas that came to mind during a psychedelic experience, as well as setting new goals, habits and behaviors that can help to improve a person’s life. While Mindleap does not encourage people to spend time on their phones while taking psychedelic substances, and does not facilitate psychedelic use via the platform, the company recognizes a deep need for people to connect with trained professionals who can help them discuss and understand their individual psychedelic experiences. You can find more information on Mydecine Innovations Group Inc. at www.mydecine.com.
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