5 Psychedelic Startups Investors are Flocking To

3. Journey Colab

Journey Colab is a firm developing psychedelic therapies to treat mental health disorders and thus help strengthen the overall community. It is placed third on our list of 10 psychedelic startups investors are flocking to. The company is different from other psychedelic startups as it aims to work within government-approved regulations with regards to novel therapies. In October 2020, the company managed to raise $3 million from Apollo Projects to work on psychedelic products with input from community stakeholders. 

Investors looking for a foray into the biopharma industry should also keep their eyes on Abbott Laboratories (NYSE: ABT), the Illinois-based multinational healthcare company that sells drugs for treating mental health conditions like depression. Abbott Laboratories (NYSE: ABT) has a market cap of over $210 billion. 

At the end of the first quarter of 2021, 65 hedge funds in the database of Insider Monkey held stakes worth $5.1 billion in Abbott Laboratories (NYSE: ABT), up from 64 in the preceding quarter worth $4.3 billion.