Interest in the medical use of psychoactive drugs increasing

  • 05/27/2021
  • Source: BIV
  • by: Albert Van Santvoort
Interest in the medical use of psychoactive drugs increasing

Psychedelics aren’t just for Woodstock anymore.

In a quest to fill a seemingly insatiable appetite for new markets and after witnessing the success of the cannabis industry, many venture capitalists are looking for investment opportunities on the frontiers of research into psychedelic drugs.

“Right now there seems to be a tremendous amount of interest in getting these ideas up, running and funded,” said Robert Tessarolo, president and CEO of NeonMind BioSciences Inc. (CSE:NEON). “There’s a lot of wind in the sales of this industry, money flowing in, capital flowing in.”

Psychedelics are being used to treat health issues ranging from post-traumatic stress disorder to obesity. Proponents claim that the way psychedelics affects users’ thinking can allow patients to confront deep subconscious issues and address the root of the problem.

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