Psychedelic Business News Spotlight: January 22, 2021

This week in psychedelic business news: Canada’s NEO exchange gets the world’s first ETF, Daniel Carcillo’s Wesana Health raises $4 million, Revive Health raises $20 million, and more.

Former Chicago Blackhawk left-winger Daniel Carcillo, has raised $4 million for his psychedelic life sciences company, Wesana Health. The capital will help the company bring on new talent, including former MMA fighter Ian McCall, as well as expand preclinical and clinical trials.

Canada will have its first psychedelics-focused ETF. Trading begins next Wednesday. The Horizons Psychedelic Stock Index will focus on the emergent category treatment and research leaders. “After decades of restrictions, recent policy changes and exemptions in Canada and the United States have allowed for increased research in the therapeutic application of psychedelic compounds, and the potential to create an entirely new marketplace for drugs derived from psychedelics,” Steve Hawkins, President and CEO of Horizons ETFs, said in a statement.

Psychedelic drug developer Albert Labs, has signed a letter of intent to be acquired by ME Resource Corp.  Albert will be the first psychedelics company to use the Real World Evidence accelerated pathway in psychedelic treatment and research. 

 Mindset Pharma Inc., says it’s working on preparing its ‘next-gen’ psilocybin for clinical use. The new launch will be discussed later this month. According to the company, the new product is already pulling interest from larger psychedelic firms. 

Revive Therapeutics has increased its recent funding round from $10 million to $20 million. The psychedelic life sciences company is working on therapeutic uses of various substances in treating rare medical conditions. Funding comes from Canaccord Genuity Corp. and Leede Jones Gable Inc. to pay $0.50 per Equity Unit. The funding increase comes as Revive entered into a research agreement with North Carolina State University to develop a novel biosynthetic version of psilocybin.