On the first day of trading earlier this month, Atai Life Sciences N.V. was valued at over $2.6 billion. Atai is a German biopharmaceutical company that uses psychedelics to treat mental illnesses. By 2027, the global psychedelic market is predicted to exceed $7 billion. For an industry that is still in its infancy, this translates to a compound annual growth rate of 16 percent. Experts have been pressing investors to recognize psychedelics’ genuine potential. According to a new research, the industry was worth more than $4.7 billion in 2020 and will be worth more than $10 billion in 2027. When it comes to psychedelic research, big pharma has been the first to blow up. In the next six to seven years, Research and Markets anticipate a 13% increase.
Here is Insider Monkey’s list of the 10 psychedelic startups investors are flocking to. Diamond Therapeutics is a psychedelics-focused pharmaceutical firm. One of the company’s major investors is the Ontario Brain Institute. Seelos Therapeutics, Inc. is another company worth looking into if you’re looking for medications to treat illnesses of the nervous system. Synthesis is placed ninth on the list of the top ten psychedelic startups to invest in. The company has raised more than $2.7 million in a single round of funding. Pfizer Inc. could enter the market to take a piece of the pie. Bexson Biomedical is a California-based company working on pain management, addiction, and mental health issues therapies. Eli Lilly and Company has been keeping track of the psychedelic industry’s developments in order to position itself for future investments. Gilgamesh Pharmaceuticals is the seventh psychedelic startup on our list of the top ten. Drugs for depression, anxiety, and cognitive deficiencies are being developed by the company. Over the course of four rounds of fundraising, it has raised about $30 million. Cyclica is a startup that provides drug companies with the data they need to create new medications using machine learning and artificial intelligence. Atai Life Sciences N.V. is funded by Peter Thiel, a legendary investor recognized for his golden touch when it comes to investing in startups. For more details, click 10 Psychedelic Startups Investors are Flocking to.
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