Psychedelic drugs 'far exceed' cannabis investment potential, kevinolearytv says.
'Shark Tank' co-host Kevin O'Leary has multiple psychedelic drug company investments citing 'incredible potential' compared to recreational cannabis.
Key PointsKevin O'Leary is invested in MindMed and Compass Pathways, two public companies pioneering a new mental health market focused on psychedelic compounds like psilocybin.The "Shark Tank" star and investor says the size and scale of the market for treatment of mental health conditions like depression and PTSD shows "incredible potential," though it is risky.
Former NHL player Daniel Carcillo, who suffered traumatic brain injury, is an example of a life that was saved by psychedelic therapy and he has become an entrepreneur in the emerging space as CEO of Wesana Health.VIDEO21:5921:59Next Frontier in Treating Mental Health: Psychedelics – CNBC Healthy Returns Summit with Fmr. NHL Player Daniel Carcillo and MassGen's Sharmin Ghaznavi
Healthy ReturnsDaniel Carcillo, Wesana Health CEO, is a living example of the power of psychedelic drugs to help those suffering from mental illnesses when standard treatments — and other forms of alternative treatments — have already failed. The former National Hockey League player says he was on the verge of suicide as a result of traumatic brain injury he endured as a professional athlete. headtopics.com
"Nothing worked," Carcillo said at Tuesday'sCNBC Healthy ReturnsSummit, which included everything from standard medicine to isolation tanks. "I started to make plans to underburden my family and take my own life. I thought I had tried everything."
Then Carcillo discovered various mushroom-based alternative medical treatments for inflammation and wellness, such as Lion's Mane and Turkey Tail, and psilocybin — the compound in "magic" mushrooms — the latter of which the former NHL player credits with saving his life.
He says the day after a psychedelic trip under the right setting, he woke up feeling the way he hadn't felt in years: normal. And over the course of two weeks his symptoms lessened in intensity before "all but fading away."Medicinal uses for psilocybin include depression, PTSD and other mental disorders, and as more clinical data comes in, a recent spate of public offering has raised billions of dollars for the emerging mental health field.
The Washington Post | The Washington Post | Getty Images"I found myself more connected to myself and the others around me. I have three young kids under the age of six and all I wanted to do was hug them and get back to my beautiful wife," said Carcillo at CNBC Healthy Returns. His penchant for negative self-talk turned to positive self-talk — "Lots of amazingly destructive thought patterns disappeared in two weeks," he recalled — and today, he no longer suffers from anxiety and depression. headtopics.com
His experience is an anecdotal one but it is being corroborated by a growing body of clinical research in the use of psychedelics to treat a variety of mental health conditions including depression and post-traumatic stress disorder. Recent publications in The New England Journal of Medicine and Nature Medicine have detailed the
latest encouraging results on MDMA and psilocybinas potential mental health drug breakthroughs.The data has attracted the attention of Wall Street and investors, including Kevin O'Leary, "Shark Tank" co-host and chairman of the O'Shares ETFs.
This is a brand new area of medicine with such incredible potential.Kevin O'LearyCompanies including Wesana Health, Compass Pathways, MindMed and Field Trip Health are among an emerging class of stock market issues that, while coming with high risk, are raising billions of dollars based on a level of promise that O'Leary says is for real.
"The potential of psychedelics far exceeds the potential of cannabis," O'Leary said atCNBC's Healthy Returns Summiton Tuesday.The investor said he looks at new uses for illegal drugs "pragmatically" and as an investor it makes more sense to him to bet on psychedelics where research is increasingly showing medicinal efficacy, rather than placing market bets on the recreational use of drugs that are still illegal in many jurisdictions and could face complications related to RICO statutes. headtopics.com
"What interested me is scale and size of the market," O'Leary said. "These opportunities have been ignored ever since the 1960s."O'Leary has invested in MindMed and Compass Pathways as the past year-and-a-half has seen a major ramp in market acceptance of psychedelic usage in medicine, and multiple clinical trials moving along. Compass Pathways is expected to release the latest results from an important clinical trial by year-end.
"This is a brand new area of medicine with such incredible potential," O'Leary said, adding that the way investors should be looking at it is based on the fact that we have not had new medicines for mental health approved in decades. Read more: CNBC »
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kevinolearytv invest in deez nuts kevinolearytv Only a matter of time until miraculously all drugs will have healing abilities. kevinolearytv Show your work kevinolearytv . Cannabis is an ~$100 B market already here in the states. We can forage a years supply of mushrooms from nature in a day. I’m opposite Mr Wonderful. Cannabis is a much larger investment potential
kevinolearytv I think this explains Elon musk and the way he’s been acting lately! Somebody needs to give him a piss test! kevinolearytv $MINE kevinolearytv kevinolearytv how you can make money on psychedelic drugs when everyone can pick them up for free in a forest? kevinolearytv You can make him say anything with $1200 on cameo don't quote him on products
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