Marc Aspinall Psychedelic medicine will begin to cross over into the mental health mainstream in 2021. In both Europe and the US, medicines regulators have eased restrictions on using MDMA to treat post-traumatic disorder (PTSD), and on psilocybin – the active substance in magic mushrooms – to treat depression. 2021 will bring new clinical trials, as support for the use of psychedelics in medicine continues to gain momentum. Clinical research into psychedelics has boomed in the past five years and investors are taking note. The US Multidisciplinary Association for Psychedelic Studies (MAPS), which researches the topic, reached a $30 million (£23 million) fundraising target in 2020, on top of $80m of historical funds. This money will enable the completion of a phase-3 trial in the use of MDMA to treat PTSD, which will be necessary to achieve Food and Drug Administration approval. In the UK, London-based mental-health care company COMPASS Pathways has raised more than $115m to fund its efforts and bring to market a psilocybin treatment for depression. In August, the company filed an application to issue an IPO on the Nasdaq.