A report from Forbes quoted Rahn saying that investors are convinced there is a potential for psychedelics to be the breakthrough treatment for various mental health problems.
“Besides psychedelic medicines, there are very few transformative and new approaches to mental health. Institutional and Wall Street investors are recognizing that there need to be novel approaches to these vast problems and if they are psychedelic medicines, so be it,” he said according to the media outlet.
In March, Cannacord Genuity analyst Tania Gonsalves released a report indicating that the market for psychedelic-derived medicines and therapies could grow up to $100 billion. She also suggested that big pharmaceutical companies will probably “sit this one out” and “the door is open to not-for-profits and young enterprising visionaries.”
She noted that there is a resurgence of interest in psychedelic medicines over the past few years because more people are now aware and accepted that “mental illness is a real disease.”
