Breaking It Down
Mental health issues are costing taxpayers billions of dollars. Given that the 4 conditions we’ve outlined today are already nearing half a trillion dollars per annum, it would come as no surprise if the true cost reached into the trillions, as there are several other physiological conditions we haven’t even looked at.
Depression, while proving to be the costliest, is also the most popular cause being researched. Various clinical trials and therapeutic clinic programs being planned and rolled out by companies on the current market are targeting depression. One of the most recognizable player in the space, MindMed, has been conducting tests to utilize psilocybin and LSD to physiologically combat depression and addiction (a whole different beast).
Another (comparatively) large company, Numinus Wellness, is undergoing trials to use MDMA, Ketamine and psilocybin to aid with PTSD, substance abuse, and depression. All 3 drugs have long been illegal as recreational substances; however, their clinical efficacy is now being rigorously tested to improve mental health for those suffering.
While Cybin Inc. and Field Trip Health are rolling out clinics to extend their reach of psychedelic-assisted therapy for the usual suspects, there seems to be an area left completely unexplored by this handful of psychedelic companies. The area?
A steep US$147,000,000,000 (that is, 147 billion) per year is spent managing the consequences of obesity. Although the symptoms are physical, the cause of obesity is largely believed to stem from one’s physiological state.
With a cost outweighing all mentioned conditions other than depression, obesity is an extremely large issue to focus on… yet only this one small company is focused on it.
Led by Dr. Laird Birmingham, the expert of all things related to eating disorders and weight control, NeonMind (CANADA: NEON) (U.S.: NMDBF) (EUROPE: 6UF) is on a mission to address and treat the root cause of conditions such as obesity and anorexia.
While the environment around you can influence what’s on your plate, (and how many plates you have) a vast majority of disorders regarding excessive overeating or undereating comes from an underlying psychological issue. NeonMind’s mandate is to find more than a “band-aid” solution to this costly problem.
Therapy sessions guided by psilocybin and curated music are part of the company’s proposed strategy, and they are currently conducting surveys for an online candidate validation study to prove the efficacy of a carefully chosen setting for therapy involving music and other atmosphere-forward aspects.
When a company like this has a sound strategy (no pun intended…) to tackle a problem no other company is addressing, while remaining one of the smaller players in the game, we get excited.
With so much room to grow and a unique, thoughtful approach to improving people’s lives by utilizing psilocybin and other psychedelics, NeonMind has been extra hot on our watchlist.
Disclaimer: Neonmind Biosciences is a communications client of Edge Investments, and we own shares in the company. … …