The first psychedelic medicine company has applied for the IPO in Canada, reported Bloomberg on February 11.

Mind Medicine Inc. is currently preparing for the Phase 2 FDA-governed clinical trial tests of its psychedelic drugs, based on, ibogaine to treat opioid addiction. 

MindMed’s co-founder and CEO JR Rath believes that “the psychedelics industry could be much bigger than the cannabis industry because it’s going to attract institutional capital and already is starting to”, and the company aims to be the first one to conduct IPO:

“Our ambition is to be one of the first publicly listed neuro-pharmaceutical companies developing psychedelic medicines”

Mind Medicine has applies to list under MMED on Toronto’s NEO Exchange. In case of approval, the listing is planned for March this year.

As Future Time previously reported, the FDA earlier named  “breakthrough therapy” for clinical depression to a psilocybin treatment developed by London-based Compass Pathways Ltd.

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