As the promise of psychedelic investing grows in North America, Australian investors are getting a taste of what could be coming.
Last Friday (June 19), market participants were treated to presentations from three participants in the growing psychedelic drug industry. The event was organized by Melbourne-based investment and portfolio management firm Peak Asset Management.
Online presenters included: Peter Hunt, Chairman of Mind Medicine Australia; Jonathan Gilbert, CEO and Director of Eleusian Biosciences; and Steve McAuly, President and CEO of Empower Clinics (CSE:CBDT,OTCQB:EPWCF).
Gilbert began by breaking down his heavy involvement in the alternative drug market, telling the audience that Eleusian wasn’t his first foray into psychedelics.
Prior to his latest venture, Gilbert was involved as CEO of Tassili Life Sciences, a psychedelic research company. Tassili continued to be acquired by Champignon Brands (CSE:SHRM,OTCQB:SHRMF) earlier this year.
Similar to Gilbert’s old company, Eleusian is a research-driven operation that investigates the medical benefits of psychedelic compounds. But unlike Tassili, Eleusian will become a public entity through a bare-knuckle acquisition deal with GreenStar Biosciences (CSE:GDPRPink OTC: GTSIF).
Asked about the potential for a listing on Australian markets, Gilbert said it would be worth exploring in the future, although he did not confirm an official announcement.
From an advocacy perspective, Hunt spoke at length about the current desirability attached to the medical use of psychedelics in Australia as an alternative for treating various mental health conditions.
According to official data presented by Hunt, one in five Australian adults suffers from a chronic mental illness, around 4.8 million people. Based on a draft report by the Australian Productivity Commission, the total cost of mental illness and suicides to the Australian economy in 2019 was estimated at A$180 billion.
Mind Medicine Australia, which is unrelated to Mind Medicine (MindMed) (NEO:MMED), a Canadian public company with the same name, is a nonprofit group that seeks to advance the conversation about psychedelics as a viable medical alternative for patients.
Hunt said that while there is currently no university-sanctioned research in the country into psychedelic compounds, such as psilocybin and MDMA, Mind Medicine Australia hopes to announce a critical partnership in the near future.
As the session’s final presenter, McAuly explained how his company focused on expanding into psychedelics; the company primarily operates as a manufacturer of cannabidiol (CBD) products in the United States.
Empower Clinics operates a network of health and wellness clinics across the United States, offering a range of products and services. Earlier in 2020, the firm started a business in psychedelics dubbed Dosed Wellness. The move follows a partial rights purchase for the independent documentary film DOSED, which follows a woman’s healing journey using mushroom medication.
Takeaway for investors
As Hunt indicated, the Australian market is in the very early stages of the availability and acceptance of psychedelic investments. However, it is indisputable that this investment trend is beginning to spread across the globe.
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Securities Disclosure: I, Bryan McGovern, have no direct investment interests in any of the companies mentioned in this article.
The post office Australian investors are learning about the psychedelics market appeared first on Investment News Network.
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