Thinking about investing in psychedelics? Experts say it could be a  smart move. Researchers have been exploring the benefits of psychedelics for decades. And the research is showing promise; these substances appear to treat a number of mental health issues better than some conventional therapies. 

“Decades of research have demonstrated that psychedelics, which are hallucinogenic drugs, are effective in treating mental disorders such as depression, suicidal thoughts, PTSD and anxiety,” Ellen Chang wrote in U.S. News and World Report. “The Food and Drug Administration has approved and fast-tracked several clinical research trials.”

Tania Gonsalves, analyst for Canaccord Genuity Capital Markets, notes that the market value for psychedelic therapies — which are less costly than conventional drug-based treatments — could be as high as $100 billion. She says the companies that will dominate the market "will have deep pockets, patentable products and a well-thought-out reimbursement strategy.” 

Legislation and the decriminalization of psychedelics is moving the needle ahead as well. Oregon became the first state to legalize psychedelics in clinical settings as well as decriminalizing personal use and possession. Cities including Denver, Washington D.C., Ann Arbor, Mich., and Oakland and Santa Cruz in California have all passed similar decriminalization laws.

But it isn’t just the U.S. making psychedelics a ripe investing platform. The EU is seeing research and product expansion as is Canada. This list of companies shows a strong presence in the Canadian market.

Public Psychedelic Companies (alphabetical)

1. Aion Therapeutic (CSE:AION), Toronto, Ontario

It’s currently a cannabis company, but plans include crossing over into psychedelics,  

2. Better Plant Sciences (CSE:PLNT,OTCQB:VEGGF), Vancouver, British Columbia

A wellness-focused firm that has taken a majority ownership stake in NeonMind Biosciences, which is working on psilocybin research. 

3. Champignon Brands (CSE:SHRM,OTCQB:SHRMF) Port Moody, British Columbia

It’s working with a number of psychedelics and plans to open clinics for psychedelic treatments.

4. Codebase Ventures (CSE:CODE,OTCQB:BKLLF), Vancouver, British Columbia

An investment firm with opportunities in psilocybin and microdose enterprise Titan Shrooms & Psychedelics.

5. Compass Pathways (NASDAQ:CMPS), United Kingdom

A research giant focused on depression treatments by way of psychedelics.  

6. Field Trip Health (CSE:FTRP) Toronto, Ontario

With an app, ketamine clinics, and Dr. Andrew Weil now on its advisory board, Field Trip is normalizing psychedelic therapies.

7. Global Trac Solutions (OTC Pink: PSYC) San Diego, California

Integrating media, creativity, and technology around psychedelics, it owns and operates Psychedelic Spotlight.

8. Graph Blockchain (CSE:GBLC)Richmond, British Columbia

Its recent acquisition of Shroom Street puts it in position to combine tech and treatment. 

9. GreenStar Biosciences (CSE:GSTR,OTC Pink:GTSIF), Vancouver, British Columbia

With the Eleusian Biosciences acquisitions it is expanding research and therapy options through a unique combination of N-Acetylcysteine and psilocybin.

10. Havn Life Sciences (CSE:HAVN) Vancouver, British Columbia

With an exemption from Health Canada, it’s able to research and develop psilocybin-based products for scientific use, developing compounds for natural health products. 

11. Hollister Biosciences (CSE:HOLL,OTC Pink:HSTRF) Vancouver, British Columbia

While rooted in cannabis, Hollister acquired psilocybin-focused AlphaMind Brands. It’s working to develop natural health products. 

12. Mind Medicine (MindMed) (NEO:MMED,OTCQB:MMEDF) Toronto, Ontario

Tackling opioid addiction with psychedelics is top priority for MindMed and it’s being hailed as one of the hottest stocks in the market after its recent partnership with Johns Hopkins.

13. Mydecine Innovations Group (CSE:MYCO) Vancouver, British Columbia

Mydecine Health Sciences, Mindleap Health, and NeuroPharm make up the group dedicated to developing psychedelic products for treating a variety of ailments.

14. New Wave Holdings (CSE:SPOR) Toronto, Ontario

This investment firm is working with companies producing a recreational product line, cosmetics, as well as developing other medical-grade products. 

15. Numinus (TSXV:NUMI) Vancouver, British Columbia

With a cannabis business already booming, it’s also exploring psychedelic therapies for treatments related to physical, mental and emotional health.

16. Nutritional High International (CSE:EAT,OTC Pink:SPLIF) Toronto, Ontario

Cannabis-heavy NHI is also researching psychedelics for use in weight loss, insomnia, anxiety, and pain management.

17. Thoughtful Brands (CSE:TBI,OTCQB:PEMTF) Vancouver, British Columbia

While heavily focused on cannabis, the company (formerly MOTA Ventures), is developing a psilocybin research hub in Germany. 

18. Roadman Investments (TSXV:LITT) Vancouver, British Columbia

Roadman entered in a joint venture with Psychedelic Insights aimed at opening clinics to offer clinician-assisted psychedelic therapies. 

19. Seelos Therapeutics (NASDAQ:SEEL) New York, New York

Seelos is working on ketamine treatments to avert suicidal behaviors and other serious mental health disorders. 

20. Red Light Holland (CSE:TRIP) Toronto, Canada

Canadian-based RLH is distributing legal recreational psilocybin truffles in the Netherlands.  ‍

21. Revive Therapeutics (CSE:RVV,OTC Pink:RVV) Toronto, Ontario

Revive is looking at utilizing psilocybin in treating a number of health issues with cannabis and psilocybin.