Among the attendees was Enveric Biosciences Inc ENVB CEO Dr. Joseph Tucker, who shared some insights into the innovative treatments for mental health disorders and investing in companies developing delivery methods for psychedelics in this emerging field.
Enveric Biosciences “is designing novel drugs inspired by classic psychedelics with the goal of making them FDA-approvable and more accessible to a wider population,” Tucker said. “The molecules derived from traditional psychedelic use have great potential for medical benefits and are ultimately a pharmaceutical field.”
The potential for healing and scalability of these compounds for mainstream use is significant, he explained. There are also delivery methods being developed that can remove hallucinogenic effects while still harnessing the healing properties of the compounds.
For example, a patented delivery system called NeuroDirect from psychedelics company Psycheceutical Bioscience Inc. BWVI eliminates psychoactive effects (Psycheceutical vice president Kaia Roman moderated the discussion).
“This system has been used in an observational clinical study of 100 patients with PTSD, where 80% of them got relief from Neurodirect ketamine. This kind of delivery method allows for quick and effective treatment without the need for a psychedelic experience,” Tucker said.
Investing In Delivery Methods For Psychedelics
While companies developing such delivery methods are a good investment opportunity, Dr. Tucker says, “more research is needed to understand the mechanisms of action and potential therapeutic applications of psychedelic substances.”
“Both drug development and infrastructure for delivering these therapies are important for patients to access them and receive support during treatment,” he added.
Additionally, scientists are drawing connections between targeting the 5-ht2a receptor, which triggers both hallucinatory effects and neuroplasticity. With neuroplasticity, new neural pathways can be created and cycles of depression, anxiety, and PTSD can be broken, Tucker said.
The psychedelic industry is in a period of rapid growth and evolution, with many challenges and opportunities ahead.
“It is important for investors and stakeholders to carefully consider their investments and contributions to this sector to ensure that they are supporting the development of safe and effective treatments that can make a positive impact on patient’s lives,” the panelist concluded.
Photo: Kelsey Wilkerson for Benzinga Psychedelics Capital Conference