How a Calgary company hopes to become a psychedelic unicorn
While the application of hallucinogens in medicine remains highly speculative, one Alberta company is hoping it can become the next 'unicorn' startup by manufacturing synthetic psychedelics for the pharmaceutical industry.
Psygen wants to become $1B manufacturer of synthetic psychedelics
It's not just long-haired hippies who are hip to psychedelics — establishment types on Bay Street are too.
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Magic mushrooms, LSD and other psychedelics remain illegal to possess for recreational use. But Health Canada has allowed them to be used in research as possible treatments for mental health conditions.
And that's sending investors on a trip — to a new industry.
CBC reporter Reid Southwick tells us about a Calgary company that's hoping to cash in on the emerging therapeutic potential of shrooms.