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Psychedelic Industry Update: 11/6/19
The 'Mush Rush' is on, CNBC is Trippin', An Industry Market Report for Investors, Awaiting Horizon's Marquee Match-up to Drop
Starting today, The Trip Report will come to your inbox on Wednesdays with The Trip Report’s Weekly Psychedelic Industry Update, a look at business matters in the emerging psychedelic space, in addition to the Sunday feature article.
If you’re a psychedelic enthusiast and share the excitement, curiosity and cautious optimism about how the Psychedelic Industry will unfold The Trip Report is for you.
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Now on to the Wednesday Update.
The ‘Mush Rush’ is So On
Marijuana Moment reported yesterday that Activists File Ballot Measure To Legalize Psilocybin Mushrooms In California.
This initiative goes beyond decriminalization to include a pathway for growing and selling Psilocybin mushrooms.
“Beyond legalizing retail sales and cultivation, the proposal would also allow for on-site social consumption facilities and for the mushrooms to be sold at farmers’ markets.”
The group behind the initiative, Decriminalize California, is now tasked with collecting enough signatures to get the initiative on the 2020 ballot.
“Advocates will need to collect 623,212 valid signatures from registered voters to qualify the initiative for the 2020 ballot. If they do so and the psilocybin legalization measure is approved by voters, the state agriculture department would have to issue licenses by September 20, 2021.”
I bet they get the signatures but fall short on a statewide ballot.
Yield Growth and its subsidiary Flourish Mushroom Labs are hoping to yield some growth in the flourishing psychedelic mushroom industry and hopeful ballot initiatives like the one just put forward in California.
This looks like a move to leverage a combo platter of
The “fast-growing international functional mushroom market”
The rising interest in psychedelic mushrooms in the wake of decriminalization campaigns and the much-anticipated medicalization of psilocybin.
That Wellness & Self Care life made so alluring via influencer culture
"We are positioning Flourish Mushroom Labs to be a key player in the fast growing international functional mushroom market," says Penny White, Yield Growth CEO. "Flourish Mushroom Labs also acquired the rights to infuse the products in its newly acquired formulas with psychedelic mushrooms where it's legal to do so."
Field Trip Ventures on CNBC
In a three minute segment on CNBC’s Power Lunch, Ronan Levy, Founder of Field Trip Ventures spoke to a panel of Type A go-getter Wall St media types about the emergence of Psychedelic Medicine and his company’s attempt to profit off of the Mush Rush.
This short clip is evidence of the chasm between Psychedelic Science enthusiasts and the mainstream is still wide and educational efforts will be needed.
Data Bridge Market Research announced the sale of their Psychedelic Durg Market Industry Trends and Forecast this week.
I caught wind of it through a Google alert.
I have been looking for an analysis of this sort. None of my friends in finance have any leads on internal reports like this so I was excited to see this.
From the intro:
“Global psychedelic drugs market is rising gradually with a healthy CAGR in the forecast period of 2019-2026. Growing prevalence of depression worldwide and increase in special designation from the regulatory authorities to the company to expedite the development process are the key factors for market growth.”
The report is on sale for a whopping $5,400 for institutions and $4,200 for individuals.
I’ve reached out to Market Bridge to see if I can get a comment and if they’d be willing to cut me deal on the report. I’ve yet to hear back.
Economic Models for the Expansion of Psychedelics
Psychedelics Today had a nice write up of the annual Horizons Conference in NYC a few weeks ago with three themes that are pressing in the psychedelic community. Two of their three takeaways are central to the ideas we explore here at The Trip Report.
1. Psychedelics are coming, but how? Medicalization vs. Decriminalization vs. Legalization
This is a substantive debate that divides the psychedelic community and it is always interesting when key figures chime in with their thoughts on the matter. In this case, Dr. Kevin Hart goes full Legalization to raucous applause.
2. Economic Models of Psychedelic Expansion
Here is the heart of The Trip Reports Interest. And one of the more talked about presentations at the conference.
From what I gather the panel discussion entitled Economic Models for the Expansion of Psychedelics was fairly contentious as it featured George Goldsmith, chairman, and CEO of Compass Pathways (the company which holds a patent on a synthetic psilocybin production process - not the actual compound) and others who pressed him repeatedly about Compass’ plans since they would technically have the legal right to monopolize the compound.
The other panelists included Beatriz Caiuby Labate of Chacurna, Rachel Aidan COO of Synthesis Retreats, James Rucker of Kings College London, Bennet A. Zelner of the University of Maryland, and the legendary Bob Jesse.
Horizons have started to release videos from the recent conference, here’s to anxiously awaiting the drop of this video.
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