- Congressman Earl Blumenauer recently wrote to his peers, urging them to petition the DEA to permit terminally ill patients to use psilocybin as part of their treatment
- Although 41 states permit terminal patients to try investigational drugs, psilocybin continues to be banned by the DEA
- Change seems to be coming within the sector as evidenced by its decriminalization in cities such as Denver and Oakland
- Delic Corp has positioned itself as a leading psychedelic wellness platform, with business interests in ketamine infusion clinics, media, event management, and psilocybin research
In mid-December, Representative Earl Blumenauer circulated an open letter to his colleagues in Congress, urging them to join him in petitioning the DEA to permit patients suffering from terminal illnesses to use psilocybin as part of their treatment, without fear of being federally prosecuted (https://ibn.fm/1NxQf).
Although 41 U.S. states as well as Congress have adopted right-to-try laws, which permits patients with terminal illnesses to try investigational drugs that are yet to receive approval, the DEA has remained steadfast in its stance to continue denying patients access to psilocybin. Nonetheless, the tide seems to be shifting. Scientific research within the psychedelics sector has increasingly uncovered the substance’s potential to relieve a broad array of psychological maladies, including depression, anxiety, and addiction.
Delic Holdings (CSE: DELC) (OTCQB: DELCF) has sought to capitalize on the ongoing transformation within the sector, positioning itself as the nation’s leading psychedelic wellness platform, committed to bringing science-backed benefits to all and reframing the psychedelic conversation.
According to the National Institute of Mental Health, over 17 million Americans have at least one major depressive episode every year, and up to 30% of them receive insufficient help from current medical treatments. Meanwhile, a further estimated 40 million adults struggle with anxiety disorders. Within his letter, Blumenauer stated that there was a growing body of evidence which pointed towards the effectiveness and safety of psilocybin-assisted therapy as a possible way to provide care for patients with anxiety and/or treatment-resistant depression. He further explained that despite these promising findings, the pace of regulatory approval had been slow for a substance that occurred naturally, and which had evidence of its safe therapeutic use by humans for millennia.
Representative Blumenauer’s missive and findings seek to accelerate a process that has already begun to be reflected in policy adjustments within certain sectors of the government. In a move towards addressing the growing health crisis in 2018, the FDA moved towards granting psilocybin “breakthrough therapy” status for the treatment of severe depression. Shortly thereafter, Denver and then later Oakland voted to decriminalize the use of psilocybin mushrooms, with the state of California currently reviewing a bill to decriminalize a wide variety of psychedelics (https://ibn.fm/X2kao).
Founded in 2018, Delic Corp has sought to transform itself into a champion of the psychedelic wellness sector, including psilocybin, through its myriad business interests. The company’s operations now include the largest chain of psychedelic wellness clinics with Ketamine Wellness Centers (“KWC”) and Ketamine Infusion Centers (“KIC”); trusted media and e-commerce platforms like Reality Sandwich and Delic Radio; Delic Labs, the only licensed entity by Health Canada to exclusively focus on research and development of psilocybin vaporization technology; and Meet Delic, the world’s largest psychedelic wellness event.
With the sector on the cusp of broad-based legalization, the psychedelic drugs market is now projected to grow to a size of $10.75 billion by 2027, up from $4.75 billion in 2020 with a forecast CAGR of 12.36 percent over the period of 2021-2027 (https://ibn.fm/LPnCo). With its business spanning all aspects of the sector, Delic Corp looks optimally positioned to benefit from the continued growth in adepts to the sector as well as ongoing legalization efforts which are increasingly making waves around the world.
NOTE TO INVESTORS: The latest news and updates relating to DELCF are available in the company’s newsroom at https://ibn.fm/DELCF
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