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It s an emerging health issue that Simon came to appreciate through the firsthand frustration of watching people in his life suffering not just from mental illness, but from the failure of existing and costly medical treatments. Drugs long stigmatized, such as psilocybin and MDMA, are rising in profile as mental illness treatment options. Just last week, results from a phase 3 trial of MDMA combined with talk therapy for post-traumatic stress disorder showed results that were impressive. This is a pivotal event, said Elemer Piros, a biotech analyst at Roth Capital Partners who covers the emerging alternative mental health treatment space. It may not seem humongous, but it is one of the best and most rigorously executed trials in the space. And the results corroborate what we have seen time and time again from smaller studies over the past two decades, he said, referencing remission rates double that of a placebo. The magical experiences kept showing up, but no one h ....
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Alexander Volkov/Getty Images Atai Life Sciences, the largest private psychedelics company in the world, just raised $157 million. The fresh round of capital comes months after the company closed a record $125 million in November. CEO Florian Brand told Insider the money will be used to double down on the company s strategy. Just months after breaking the record for largest funding round in the psychedelics field, Atai Life Sciences has raised another $157 million to continue to develop treatments for mental illnesses like depression, addiction, and anxiety. On Wednesday, Atai announced that it had closed its Series D financing round, which was led by existing investors Apeiron Investment Group, Christian Angermayer, Thiel Capital and new investor Woodline Partners LP, an investment firm that focuses on equity strategy within healthcare and technology. ....
Alexander Volkov/Getty Images This story is available exclusively to Insider subscribers. Become an Insider and start reading now. The psychedelics industry has ramped up over the past year as institutional investors entered and several companies have gone public. Insider identified the top 14 startups that are working to turn psychedelics into approved medicines for conditions like depression, opioid use disorder, and anxiety. To put together this article, we reached out to companies on our list from last year, used data provided by PitchBook, and talked to VCs in the space. 2020 was a booming year for the psychedelics industry. Money swept through the private side of the space as big names like Atai Life Sciences closed record-breaking rounds of funding and more companies entered, hoping to take part in what could become a $100 billion market, according to a May 2020 report from Canac ....
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