Psychedelic Business News Spotlight: January 08, 2021

This week in psychedelic business news: Neon Mind goes public, Ehave ups its sales efforts, Mydecine adds new patents, and more.

Ehave, Inc. a leader in ketamine therapy distributions, expanded its sales efforts. Patrick Gallagher is now Sales and Customer Acquisition Director. “I’m honored to be joining Ehave and look forward to sharing the advancements the Company has made in digital therapeutics for mental health,” Mr. Gallagher said. “I’m passionate about giving back, and knowing that Ehave helping the people who need it most, is truly gratifying.” The company developed KetaDASH, a home delivery platform for patients prescribed Ketamine infusions.

Emerging biopharma and life sciences company Mydecine, has filed for seven provisional patents. The patents are related to its work in fungi for medicinal and pharmaceutical use. “These patent filings serve as a significant milestone for Mydecine in our efforts to build a unique and proprietary intellectual property portfolio of pharmaceutical and natural health products that address the growing interest in fungi-based solutions,” Josh Bartch, Mydecine’s CEO said in a statement. “We believe in the power and potential of these compounds to treat and provide incredible relief to those suffering from mental health issues and will continue forward with our research efforts to better understand how they work together to augment the mind and body in new and powerful ways.”

AIkido Pharma Inc. initiated a Patent License Agreement for technology that covers the use of psilocybin for cancer applications. According to the company psilocybin for cancer treatment is a growing field. Studies by Johns Hopkins and NYU Grossman School of Medicine found that one psilocybin treatment may help reduce stress in cancer patients. “We are excited to explore this aspect of cancer treatment,” Anthony Hayes, CEO of AIkido, said in a statement. “Our license covers the use of psilocybin to treat both cancer and cancer side-effects and we believe this to be an expanding area for treatment.”

Minerco, Inc. has signed a Joint Venture letter of intent with Lazurus Holistic to develop a unique strain of psilocybin mushrooms. The mushroom species is inherent to Jamaica. The partnership is part of efforts to fill one million microdots daily. The company is expanding its wholesale efforts to Europe and Canada and launching its own “DOTMINES” brand. “We are looking forward to the definitive agreement with our new partnership. This joint venture will vertically integrate our business model; Grow in legal markets, and fill microdose orders wholesale as well as filling our own product, a win/win. This JV will increase value for Minerco and its shareholders,” CEO, Julius Jenge said in a statement.

NeonMind, a subsidiary of Better Plant Sciences Inc., was the first psychedelic company to go public in 2021. It launched on the Canadian Stock Exchange. The move follows its IPO, which raised $3.6 million at the end of last year. “Our public listing is a significant milestone for us as we execute on our plan to grow our intellectual property portfolio and product development pipeline,” said NeonMind founder and CEO, Penny White.