In this article, we discuss the 5 psychedelic startups investors are flocking to. If you want to read our detailed analysis of these startups, go directly to the 10 Psychedelic Startups Investors are Flocking To.
5. Psygen Labs
Psygen Labs is ranked fifth on our list of 10 psychedelic startups investors are flocking to. The company makes and sells pharmaceutical-grade psychedelic drugs, mostly for clinical research and therapies. It is based in Canada. Late last year, Psygen Labs signed an agreement with biotech firm Entheon Biomedical Corp to supply drug substances to the latter. The startup is often marketed as one of the leading suppliers of psychedelic drugs for the emerging companies working in the sector.
In the pharma-sector, one of the top stocks is Novartis AG (NYSE: NVS), the Swiss firm that has invested heavily in drugs for mental health disorders over the past few years. Novartis AG (NYSE: NVS) is one of the big names that could jump into the psychedelic business as well, given the potential psychedelics offer in the treatment of mental health conditions.
At the end of the first quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $1.7 billion in Novartis AG (NYSE: NVS), down from 23 in the preceding quarter worth $1.6 billion.