Psychedelic drugs may revolutionize the health-care sector, in particular psychiatric treatment and end-of-life care, as more research on these substances is conducted. Substances such as ketamine, psilocybin, MDMA and LSD, which are still illegal in most parts of the country, have shown potential in the treatment of various mental health conditions including anxiety, depression, post-traumatic stress disorder and addiction.
The potential of the psychedelic space has been noticed not only by researchers but also by venture capitalists and other investors who have been injecting billions into this burgeoning market in the hopes of getting it off the ground.
Some of the studies and the discussion on the medical use of psychedelic substances have focused on end-of-life care. Founder of the End Well organization, Shoshana Ungerleider, stated that evidence of the substances’ benefits was so compelling, noting that there were few tools that could assist individuals suffering from depression, anxiety and existential distress related to a severe disease diagnosis.
Ungerleider explained that administering these drugs in a controlled therapeutic environment with trained physicians could help people live fully until they died, which is why these drugs needed to be more widely available.
Scientific literature on psychedelic substances for dying individuals has advanced significantly these last two decades, with a recently published study identifying a number of clinical benefits, which include improved acceptance of mortality and a reduction in depression and anxiety.
The research, which was published in the “Current Oncology” journal, cited studies indicating that the most commonly used psychedelic substances carried no long-term physical effects, had few interactions with other drugs, didn’t interfere with an individual’s liver function and has no tissue toxicity. However, some side effects were also observed, the most common ones being disruption of spatial or visual orientation, vomiting and nausea.
During the 1960s, interest in the potential medical benefits of these drugs became widespread. However, research was hindered from progressing after the substances’ criminalization in 1970. These substances are still illegal in most states and at the federal level. Last year, Oregon became the first to eliminate criminal penalties for all illegal drugs. The state is now focused on establishing a state-licensed, psilocybin-assisted therapy system that will be the first in the country.
Additionally, three cities in the state of Massachusetts, as well as the city councils of Oakland, Santa Cruz and Ann Abor have voted to decriminalize some psychedelic substances.
Given that companies such as Cybin Inc. (NYSE American: CYBN) (NEO: CYBN) have made major progress in developing therapeutics from psychedelics, it may not be long before these substances find widespread use in palliative care.
NOTE TO INVESTORS: The latest news and updates relating to Cybin Inc. (NEO: CYBN) (NYSE American: CYBN) are available in the company’s newsroom at https://ibn.fm/CYBN
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