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Psychedelics startups are taking on mental health – Source

Psychedelics, long stigmatized as risky recreational drugs, are finally finding a place in polite society. More and more research from prominent institutions such as Johns Hopkins suggests that such drugs, in the right formulations and with supervision, can bring about therapeutic breakthroughs in patients, notably in those that have proven to be resistant to other types of treatment.

Venture capital firms have taken notice—pouring money into startups developing psychedelic treatments for everything from PTSD to smoking cessation. A January analysis by Business Insider identified 11 venture capital firms (most of them founded in the past three years) that have collectively invested roughly $140 million in the psychedelics category. Funding accelerated after psychedelic startup Compass Pathways raised $146 million in its September 2020 IPO and an additional $144 million in a secondary offering in April 2021.

And on Thursday a group of mid-tier VCs (and a group of angels) announced…

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