An emerging industry is coalescing around psychedelic-assisted mental health treatments, with six leading companies advancing therapies involving lysergic acid diethylamide (LSD), psilocybin, and other hallucinogenic compounds. The psychedelic drugs market is poised for substantial growth, with an expected increase of $1.94 billion between 2024 and 2029, representing a compound annual growth rate of 14.3%, driven by increasing mental health disorder prevalence and gradual acceptance of psychedelic substances.
Leading Companies and Candidates
Compass Pathways is developing COMP360, a synthetic psilocybin therapy currently in phase 3 for treatment-resistant depression. In June, the company achieved its primary endpoint in the first of two phase 3 trials, demonstrating that a single 25 mg dose reduced depression severity by 3.6 points on the Montgomery-Åsberg Depression Rating Scale at week six compared with placebo. GH Research’s GH001, an inhaled form of mebufotenin, met its primary endpoint in a phase 2b trial for treatment-resistant depression in February 2025, with patients seeing an average 15.2 point reduction on the MADRS at day eight compared to a 0.3 point increase in placebo recipients. Atai Life Sciences’ lead candidate BPL-003, a mebufotenin nasal spray, demonstrated rapid and durable antidepressant effects with a single dose in a July phase 2b study.
Neuroplastogenic and LSD-Based Approaches
MindBio Therapeutics is pioneering microdosing with MB22001, a proprietary form of LSD for take-home use. A phase 2a trial found the drug reduced depression symptoms in 60% of patients, with 53% achieving complete remission. MindMed’s MM120, an optimized LSD form acting as a partial agonist at serotonin receptors, dosed its first patient in a phase 3 trial for major depressive disorder in April 2025. Enveric Biosciences is developing EB-003, a neuroplastogenic compound targeting serotonergic receptors to induce neuroplasticity without hallucinogenic effects, with positive preclinical results in post-traumatic stress disorder models in July 2025.
This article is an AI-assisted summary. All facts and figures are drawn from the original report: https://www.labiotech.eu/best-biotech/psychedelic-companies/