Jonathan Bixby and Mike Edwards, the duo that’s taken public companies involved in cryptocurrencies, e-sports and cannabis, are back with a fourth London listing in eight months. This time, it’s psychedelics.
Clarify Pharma invests in biotech and life-sciences companies seeking to prove the safety and efficacy of psychedelic-based substances. It raised 1.96 million pounds ($2.3 million) on the Aquis Stock Exchange, a small U.K. bourse. The stock opened at 2.77 pence, up 11% from the 2.50 pence listing price.
Marijuana’s regulatory headway for medicinal use in recent years has paved the way for a flurry of initial public offerings in the U.K. Dozens of startups are betting on a similar legal shift for psychedelic substances, which are being used to develop treatments for illnesses like depression and anxiety.
Scientific evidence is mounting that drugs like psilocybin, an ingredient in magic mushrooms, or Ibogaine, used in ayahuasca-style ceremonies, can be used in mental health treatment. But with so much legal uncertainty, most…
