For a while now, researchers have been conducting studies on psychedelics, gathering more knowledge on these substances and their benefits. Prior research has demonstrated that psychedelics could help manage anxiety, treatment-resistant depression and post-traumatic stress disorder for individuals who haven’t benefitted from the currently prescribed medications.
As the psychedelics space grows, so do investments into the market. Unsurprisingly, the number of nondrug startups involved in the space has increased considerably, moving from 19% in 2020 to 38% in 2021.
However, with the market reaching oversaturation and funding for biotech startups drying up, many believe that ancillary tech firms will be just as important in the future. Unlike the biotech firms, ancillary tech companies need fewer funds and will play a crucial role, especially as psychedelic drugs get commercialized.
It is expected that the FDA will approve the first psychedelic-based therapy next year. This, together with a new law in Oregon that permits the legal use of psychedelic substances, is soft launching a new legal market for these substances.
Many believe that as more psychedelic therapies are released, it will take more than drugs to make the consumption of these drugs a success; it will take a huge technology-backed push.
So, what infrastructure is in place to support the use of psychedelics?
As more psychedelic drugs are introduced to the market, these drugs will need to be administered in a clinic, with trained and certified therapists who can take the patients through therapy sessions. Companies such as Fluence will also be useful in helping psychedelic drugs enter clinical trials, which allow patients to benefit from using these drugs as part of their therapy as well as allow the FDA to understand the full benefits and risks of the substances. Fluence is a start-up that offers psychedelic therapy training and certification for therapists.
The safe usage of psychedelics also needs to be supported through companies such as Reunion Neuroscience. The Reunion has ketamine clinics that combine ketamine infusions with psychotherapy in spa-like settings. This is in addition to being involved in the development of various psychedelic-based drugs.
Other companies, including Wavepaths, use AI to play music aimed at fostering a good experience with psychedelics and encouraging patients to open up more during their sessions. Companies like Enthea allow organizations to provide reimbursement for psychedelic-based therapeutics as a health benefit. This will not only save patients money but also encourage more patients who need the drugs to try this alternative treatment.
At the moment, legal psychedelic therapeutics such as ketamine infusions aren’t accepted by health insurance companies because they’re off-label. Patients who receive these treatments from licensed centers run by companies such as Delic Holdings Corp. (CSE: DELC) (OTCQB: DELCF) have to pay for the services out of pocket or secure funding from another source.
NOTE TO INVESTORS: The latest news and updates relating to Delic Holdings Corp. (CSE: DELC) (OTCQB: DELCF) are available in the company’s newsroom at https://ibn.fm/DELCF
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