Research on psychedelic-assisted therapy has demonstrated the many benefits the treatment approach has. With more investors becoming receptive to the use of this approach as an alternative treatment in the future, some biopharmaceutical companies that aim to make psychedelic drugs to treat various mental health conditions have launched their IPOs.
The companies in question include Compass Pathways, MindMed and Atai Life Sciences; the companies went public in November 2020, April 2021 and June 2021 respectively. Together, these firms have more than nine psychedelic therapy medications in their product pipelines.
So how do psychedelic drugs work for therapy?
Psychedelics are known to alter an individual’s mood and perception as well as impact various cognitive processes. The most common are classic psychedelics, which include ibogaine, ayahuasca, psilocybin, LSD and MDMA.
Research has demonstrated that psychedelic substances used in conjunction with therapy can help treat various conditions by basically reshaping the way different parts of the brain communicate with one another.
Jennifer Mitchell, a professor at the University of California San Francisco, explains that psychedelic substances allow individuals to process and let go of things that had previously afflicted them. For instance, psilocybin is believed to increase the brain’s ability to reset and adapt and boost connectivity in the brain.
Once approved, what will psychedelic therapy look like?
Many are hopeful that by 2023, the FDA will have approved the medical use of MDMA-assisted therapy, as more psychedelics are evaluated for medical purposes.
Thus far, scientists have found that psychedelic therapy isn’t suitable for individuals who have cardiovascular issues or a history of psychosis. With that in mind, when psychedelic-assisted therapy is approved for medical use by the FDA, a lot will need to go into how the process will be conducted in order to achieve the best outcomes. For example, before any drugs are administered in the psychedelic therapy session, clinicians will have to talk with their patients and discuss what may come up during the session.
Mitchell adds that the therapy sessions, which will entail patients being under the influence of a psychedelic, will go on for a period of roughly eight hours and can be labor intensive. In order to ensure that patients have a comfortable setting, providers may provide a playlist with soothing music along with eye shades and a room that feels safe and comfortable; these precautions will allow patients to be more calm and less anxious during their trips.
It should be noted that psychedelics are not being evaluated or studied on individuals without clinically diagnosable conditions or individuals with milder mental health conditions.
Many companies that are currently engaged in psychedelic product development, including Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF), are focusing on the therapeutic use of those products under medical supervision since these are potent compounds that can have undesirable side effects if used incorrectly.
NOTE TO INVESTORS: The latest news and updates relating to Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) available in the company’s newsroom at https://ibn.fm/TRYPF
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