The psychedelic industry is arriving at Davos amid a renaissance of popular interest in the drugs.
Most are still considered illegal, although a number of cities and states have decriminalized some. Stock values for companies have lagged while they await results from long-range clinical trials to test the efficacy and risks of substances such as MDMA, LSD, psilocybin, ayahuasca and 5-MeO-DMT. The AdvisorShares Psychedelics ETF has lost over 50% of its value this year.
Florencia Bollini specializes in 5-Me0-DMT, known as the “God molecule” for the short but intense experiences it invokes. She’s also the founder of two fledgling companies in the psychedelics space. Los Angeles-based Nana is based on a digital platform that will distill Bollini’s decade of experience serving psychedelic substances in the underground. The other, Brighton, England-based Rewire, is seeking $5 million in seed funding that Bollini said will develop a method for 5-MeO-DMT that will improve its efficacy and decrease the risk of negative experiences. Clinical trials are planned for next year.
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