Investors See Far Out Profits In Psychedelic Medicine

Psychedelics like LSD, magic mushrooms and MDMA are making the jump from party drugs to prescription drugs–and more investors are noticing

It’s been a long strange trip for Brom Rector to become one of the few venture capitalists investing exclusively in psychedelic medicine. The 31-year-old has been experimenting with drugs like LSD for a decade but he never imagined he could turn that interest into a career.

Now Mr. Rector, a former hedge-fund portfolio manager, is raising millions of dollars from scientists, financiers and crypto bros eager to buy into treatments that aren’t even legal yet. They are betting that hallucinogens will eventually be approved for medical treatment and recreational use, spurring a boom from biotech to the entertainment industry that will far outstrip

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

WSJ /  🏆 98. in US

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Drops to $19.7K as Recession Concerns Weigh on Financial Markets, Euro Nears Dollar ParityBitcoin drops to $19.7K as recession concerns weigh on financial markets, euro nears dollar parity. By shauryamalwa
Read more »

Twitter shares tank as legal battle looms over Elon Musk's plans to abandon $44B dealTwitter shares fell below $34 in early trading, far below the $54.20 that Musk agreed to pay, suggesting few investors believe the deal will go through.
Read more »

Twitter shares tank as legal battle looms over Elon Musk's plans to abandon $44B dealTwitter shares fell below $34 in early trading, far below the $54.20 that Musk agreed to pay, suggesting few investors believe the deal will go through.
Read more »

Twitter shares tank as legal battle looms over Elon Musk's plans to abandon $44B dealTwitter shares fell below $34 in early trading, far below the $54.20 that Musk agreed to pay, suggesting few investors believe the deal will go through.
Read more »

European Markets Set for Lower Open as Investors Brace Themselves for U.S. Inflation DataEuropean stocks are expected to open lower, extending losses seen in previous sessions this week, as investors prepare for the latest U.S. inflation data.
Read more »

6 common medication errors parents make with kidsBefore giving your kid that dose of antibiotics or cold medicine, make sure you read up on these common medicine mistakes.
Read more »