The Compass Pathways’ announcement that it is filing for a NASDAQ listing has been producing most of the headlines in the psychedelics space in current days.
Flying beneath the radar, an additional private enterprise is also moving to go public. Thoughts Remedy Well being Inc., primarily based out of Vancouver, Canada, just filed its IPO prospectus on Sedar on August 27, 2020.
Go via the nuts-and-bolts of Thoughts Cure’s current operations, and it is all about “functional mushrooms”. Functional mushrooms are a significant-and-increasing industry in the dynamic nutritional supplements space – currently pegged at $23 billion per year (in 2019) by Mordor Intelligence.
Thoughts Remedy has an current item line of functional mushroom merchandise (“Moonbeam”), for which it is creating each an on the net and brick-and-mortar distribution network.
Nevertheless, the Corporation states its enterprise model in a great deal much more common terms.
Additional than just functional mushrooms.
Thoughts Cure’s more plans as a overall health & wellness enterprise develop into apparent when it discusses its R&D plans in the prospectus.
Thoughts Remedy believes that each the functional and psychedelic mushroom merchandise industry is a important enterprise chance and plans to be in position to take portion in this emerging sector. [emphasis mine]
Thoughts Remedy, like most of the psychedelics startups, is functioning toward a Canadian listing on the CSE. It is looking for to raise among CAD$1 million and CAD$two.six million for its qualifying transaction.
Functional and psychedelic mushrooms, and other psychedelics R&D as properly (per the prospectus).
This is becoming a precise niche inside the bigger psychedelic drug business. Why?
We will connect the dots right here in an upcoming investor function.
Compass Pathways may well quite probably develop into a core holding in the psychedelic drug sector just after it goes public. But as investors appear to broaden and diversify their psychedelics portfolio, functional-and-psychedelic mushroom corporations like Thoughts Remedy Well being give a new game-program for investors.