This Company Is Making Synthetic Psychedelics With a Goal To Combat Mental Illness

This Company Is Making Synthetic Psychedelics With a Goal To Combat Mental Illness

Photo by Michael Longmire on Unsplash

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

As the world tries to combat widespread mental illness and addiction disorders, some scientists are looking to psychedelics for the treatment of the diseases.

Once a figure in the 1960s counterculture, psychedelics are reportedly gaining acceptance in mainstream medicine for the treatment of depression and anxiety as well as addiction and other mental disorders.

One such compound is ibogaine, a psychedelic substance found in the Western African shrub Tabernanthe iboga. While the psychedelic compound may have the potential to improve the quality of life for many people, the lack of accessibility to a reliable supply of pharmaceutical-grade ibogaine limits opportunities for research, product, and protocol development.

In addition to mental illness and addiction, therapeutic uses for ibogaine may include treatment for neuropathic pain, trauma, migraines, cluster headaches, and treatment-resistant mood disorders.

One of the few companies researching ibogaine is Mind Cure Health Inc. MCUR MCURF, a Vancouver, British Columbia-based life sciences company focused on innovating and commercializing new ways to promote healing and improve mental health.

The Trip to Mainstream Treatment?

Earlier this year, MINDCURE announced The Ibogaine Project, a research and development program for manufacturing synthetic ibogaine and conducting preclinical explorations. By manufacturing pharmaceutical-grade ibogaine, MINDCURE plans to provide researchers and clinicians with a sustainable high-quality, and regulated supply of the compound to conduct studies and improve knowledge about its potential benefits.

Ibogaine has not entered mainstream treatment for the conditions it’s believed to help because its natural variability in plant form poses challenges for psychedelic drug research; there is limited access to a sustainable and consistent supply of ibogaine, and its cardiac toxicity and adverse effects need to be understood.

MINDCURE believes that its manufacturing of synthetic ibogaine comes at a time when the world desperately needs treatment for addiction and mood disorders. Weekly drug overdoses were as much as 45% higher in 2020 than in 2019, according to the U.S. Centers for Disease Control and Prevention.

The drug, alcohol, and other addictions treatment industry is projected to be worth $38.2 billion this year, and the global anxiety and depression market is expected to reach $24.4 billion by 2030. The cognitive enhancement market is estimated to reach $6.5 billion by the end of 2023.

Only a handful of companies are working with psychedelics to help solve addiction and mental health issues. Atai Life Sciences ATAI is developing several drugs based on psychedelic substances, including ibogaine and ketamine, and Mind Medicine MNMD is developing 3 clinical-stage programs, 2 of which focus on LSD and the 3rd on ibogaine.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

Posted In: CannabisPenny StocksSmall CapMarketsMind Cure Health Inc.Partner Content

BENZINGA CANNABIS CONFERENCE

Meet the biggest cannabis industry players and make deals that will push the industry forward.

Featuring live company presentations, insider panels, and unmatched access to networking, the Benzinga Cannabis Capital Conference is where cannabis executives and entrepreneurs meet.

Join us April 11-12, 2023 at Fontainebleau Miami Beach in sunny Florida.