Mar 22, 2024

Psychedelic Renaissance: Breakthrough Designations Confirm That The Era of Medical Psychedelics Is Upon Us

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Two huge developments in the psychedelic sector have generated an enormous revival of interest in the sector. Once relegated to the fringes of medical research, recent strides in clinical research mark a turning point in the quest for innovative mental health treatments. MindMed (NASDAQ:MNMD) and Cybin (NYSE:CYBN) have emerged as frontrunners, their groundbreaking work on LSD and psilocybin analogs attracting investor attention and setting new standards in the field. Amplified by celebrity endorsements, these developments signal a shift in perception and potential, hinting at a future where mental wellness will improve by leaps and bounds.

Diving into Phase 2 Triumphs

  • MindMed's Leap with MM120: In the labyrinth of generalized anxiety disorder (GAD) treatment, MindMed's MM120 emerges as a beacon of hope. This LSD analog demonstrated remarkable efficacy in a Phase 2 study, delivering clinically and statistically significant reductions in anxiety scores (HAM-A) over 12 weeks. With a 65% clinical response rate and a 48% remission rate, MM120 not only promises relief but a potential paradigm shift in GAD treatment. The path forward includes an End-of-Phase 2 meeting with the FDA in early 2024, setting the stage for Phase 3 trials.
  • Cybin's CYB003 for Major Depressive Disorder (MDD): Cybin's CYB003, a psilocybin analog, shines in its Phase 2 exploration, achieving robust and sustained improvement in depression symptoms over four months. An impressive 75% remission rate among participants underscores the compound's potential to redefine MDD therapy. As Cybin prepares for a Phase 3 trial, the anticipation builds for a treatment capable of reaching the depths of depression and offering a lifeline to those submerged in its shadows.

The Significance of Breakthrough Designations

The FDA's Breakthrough Therapy Designation (BTD) is a beacon for drugs targeting serious conditions, promising substantial improvement over existing therapies. This designation not only accelerates the review process but opens doors to exclusive FDA guidance. This guidance can significantly improve the chances of successful clinical trials by getting the Agency’s opinion on clinical trial design. The BTDs awarded to MM120 and CYB003 spotlight these treatments as frontrunners in the mental health arena, heralding a new dawn for patients grappling with GAD and MDD.

A Vision for the Future

The burgeoning interest in the medical psychedelic sector is a testament to the profound potential these substances hold for addressing the complex puzzle of mental health. The limitations of current treatments for GAD and MDD, affecting millions globally, underscore the urgency for innovative solutions. The promising results and BTDs for MM120 and CYB003 not only affirm the efficacy of psychedelic-based therapies but also illuminate the path for further research across various mental health conditions.

Mike Tyson portrait photographed by Blair Bunting in Phoenix ...
"Everyone thought I was crazy, I bit this guy's ear off," an upbeat Tyson told Reuters, referring to his infamous 1997 fight against Evander Holyfield.
"I did all this stuff, and once I got introduced to the shrooms ... my whole life changed."
"To think where I was - almost suicidal - to this now. Isn't life a trip, man? It's amazing medicine, and people don't look at it from that perspective."
~ Mike Tyson

Yet, the journey ahead is not without its challenges. Regulatory hurdles and shifting public perceptions pose significant obstacles. However, the burgeoning evidence base and growing anecdotal support from public figures like Mike Tyson, Joe Rogan, Gwyneth Paltrow, and Sting lend credibility and momentum to the cause.

  • Mike Tyson has openly discussed how psilocybin mushrooms, also known as "magic mushrooms," have had a positive impact on his life, saving him from severe mental distress and potentially suicidal thoughts. He attributes his personal and professional comeback to the mental and spiritual exploration facilitated by psilocybin (The Source, 2024). Tyson has also been involved in efforts to study the efficacy of psilocybin in treating traumatic brain injuries in athletes and veterans, partnering with Wesana Health for a significant clinical research project with the World Boxing Council (, 2023).
  • Joe Rogan is a well-known advocate for the therapeutic use of psychedelics, often discussing their benefits on his podcast, The Joe Rogan Experience. He has featured guests like Paul Stamets, Rick Doblin, Michael Pollan, and Dennis McKenna, who are experts in the field of psychedelic research. Rogan believes that psychedelics can make people more compassionate, aware, and vulnerable, and he has shared his own experiences with substances like psilocybin, LSD, and DMT (Psychedelic Review, 2023).
  • Gwyneth Paltrow, the actress and founder of the wellness brand Goop, has also discussed the potential benefits of psychedelics. In an interview with The New York Times in 2020, Paltrow mentioned that she had experimented with psychedelics and was open to the therapeutic potential of these substances.
  • Sting, the musician, has been vocal about his use of ayahuasca, a psychedelic brew containing DMT. He shared his experiences in his book "Broken Music" and in various interviews, describing how ayahuasca helped him confront personal issues and gain a deeper understanding of himself.


The psychedelic renaissance, buoyed by MindMed and Cybin's pioneering work, offers a promising horizon for mental health treatment. As we stand on the cusp of a new era, the medical community, investors, and society at large are invited to reconsider the role of psychedelics in healing the mind. With Phase 3 trials on the horizon and the FDA's nod of approval within reach, the dream of integrating these ancient remedies into modern therapy is closer than ever. The journey of psychedelics from the fringes to the forefront of mental health research is not just a tale of scientific triumph but a beacon of hope for millions seeking a path to wellness beyond the conventional.


Author owns shares of Cybin Inc. and MindMed at the time of publishing and may choose to buy or sell at any time without notice.


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