2020 was a year unlike any other. Covid exacerbated the mental health crisis as social isolation, anxiety, health care provider burnout, and a host of other individual and society-level challenges impacted our world.
Before reflecting on the past year, there is an important upcoming event you may want to join. Massachusetts General Hospital (MGH) is officially launching the Center for the Neuroscience of Psychedelics where I’m honored to serve as Chair of the Advisory Council. The launch on March 9 includes a conversation with Michael Pollan and the Center’s leadership from 4-5:30 pm ET. Invitation is attached or please register here to attend or receive a link to the recording after the event.
2020 saw significant progress in advancing psychedelic-assisted therapy for mental health. Some highlights include:
MAPS Capstone Challenge raised $30 million to complete FDA Phase III Trials for MDMA-assisted therapy as a treatment for PTSD. Psychedelic Science Funders Collaborative (PSFC), where I’m honored to be on the Steering Committee, led the campaign. MAPS released the FDA’s Interim Analysis validating the efficacy and impact of this work.
Over $650 million of commercial capital was raised in this sector in 2020 alone. Compass Pathways became the first public company on a US stock exchange with a current market cap of ~$2 billion. Atai raised $125 million in new funding and companies going public on Canadian exchanges include MindMed, Numinus and Field Trip Health. These treatments are attracting significant mainstream attention and funding.
Many new academic research centers opened their doors or announced intentions to work in this space, including UC Berkeley with Michael Pollan’s Public Dialog program, Mt Sinai where Dr. Rachel Yehuda is working with the Veterans Administration, Yale, NYU, and more.
On the policy front, referendum initiatives decriminalized psychedelics in several jurisdictions around the US, and Oregon’s passage of Ballot Measure 109 initiated the creation of the first state-wide regulatory framework for psilocybin therapy at clinics and retreat centers, which will be a closely-watched part of this ecosystem.
There were significant research results including Johns Hopkins study finding psilocybin to be highly effective in tackling major depressive disorder being the most talked about JAMA Psychiatry article of 2020!
The California Institute for Integral Studies (CIIS) also expanded their Certificate in Psychedelic Therapies and Research to Boston.
The YPO Psychedelic Medicine for Mental Health Group continues to host events with leaders in this area. To see recordings of those programs and other events I’ve spoken at or moderated, click here. Our next event will be with JR Rahn, Founder and CEO of Mindmed, on April 6, from 11:00AM ET – 12:00PM ET. You can register for that here.
I’m excited by the progress being made at the Center for the Neuroscience of Psychedelics (CNP) at MGH. CNP is interweaving psychiatry, cognitive neuroscience, neuroimaging and chemical neurobiology to better examine the function and therapeutic potential of psychedelic medicines and therapies and is led by my good friend, Dr. Jerrold Rosenbaum, Emeritus Chair of Psychiatry at MGH. Studies include examining psilocybin’s effect on rumination as a trans-diagnostic trait in patients with treatment-resistant depression as well as mindfulness-based MDMA therapy for veterans suffering from PTSD, which has the potential to dramatically impact cost and care delivery. Several webinars hosted by the Center’s leadership are available for viewing here. Please let me know if you’d like to learn more.
I am deeply grateful to be working closely with Sherry Rais and Alex Simon. Sherry is also the Executive Director of the Boston Psychedelic Research Group (founded and led by Anne St. Goar), Chief of Staff for Enthea (expediting health plan coverage for psychedelic healthcare) and Grants Manager for CIIS. Alex is on the Steering Committee and led a Landscape Analysis for PSFC, which included interviewing over 60 leaders to create a comprehensive overview of research, care delivery and policy in the psychedelics space.
I’m also becoming passionate about regenerative agriculture which has the potential to address climate change by sequestering carbon, creating healthier food for human consumption and providing better livelihoods for farmers. In addition to trying to help on a larger scale, we are buying a farm to use as a test bed for our own learnings and “get our hands dirty”.
It would be wonderful to hear updates from you. Please let me know if you have any questions or if there is anything I can do to help.
Wishing you a great 2021!
I’m happy to share some exciting updates about efforts to advance psychedelic-assisted therapies. There has been great progress made during these uncertain times.
The MAPS Capstone Campaign received a significant boost when Tim Ferriss, during his interview with MAPS Founder Rick Doblin, announced a combined $10 million dollar matching grant (facilitated by Tim and the Psychedelic Science Funders Collaborative). MAPS has until September 10 to raise $10 million in new funding, which will enable them to complete Phase III Trials of MDMA for PTSD and begin making this treatment widely available.
Massachusetts General Hospital’s (MGH) Center for the Neuroscience of Psychedelics received initial funding from generous donors and will be commencing studies shortly. Leveraging its interdisciplinary psychiatry, neuroimaging and chemical neurobiology resources, the Center will explore how and why psychedelics have such a profound impact on our brains and mental health. Initial studies will focus on psilocybin’s effect on rumination as a transdiagnostic condition and MDMA’s effect on social isolation in veterans with PTSD. I’m chairing the Advisory Council and we are making great strides in bringing together a strong community of advisors and supporters. We recently held a virtual Salon and it was inspiring to see 200+ philanthropists and leaders in this space take an interest in what is being built (recording here). Next Monday, July 20th @ 12pm EDT, we will be holding a deep dive Salon focused on the potential of MGH’s advanced neuroimaging capabilities for psychedelic research. You can register for it here. Additionally, the next Salon on September 15th @ 1pm EDT, will take a closer look at human neural stem cells and 3D mini-brains to understand and develop the therapeutic potential of psychoactive plant specimens, described by the late Dr. Richard Shultes, widely considered the founder of the field of ethnobotany.
The YPO Psychedelic Medicines for Mental Health Group continues to host informative webinars with leaders advancing psychedelic medicines and therapies. We recently held sessions with ATAI Founder Christian Angemeyer as well as Rachel Yehuda, a leading trauma researcher actively working within the VA to advance psychedelic-assisted therapy for veterans with PTSD.
The Boston Psychedelic Research Group (BPRG) will have Annie and Dr. Michael Mithoefer who together developed MAPS’ therapeutic protocol speak (virtually) on September 13 from 12-4pm EDT. Please email the BPRG if you are interested in learning more.
The ecosystem of psychedelic-focused companies is growing rapidly. In April, Compass Pathways and ATAI Life Sciences announced $80mm and $24mm funding rounds (respectively) from best-in-class biotech investors including an affiliate of Otsuka Pharmaceutical, Perceptive Advisors, and Future Ventures. It is exciting to see these innovative therapies finding resonance with mainstream healthcare.
As always, don’t hesitate to reach out to learn more or if I can be of help in any way!
Be well and enjoy the summer!
Dick Simon
Useful Links
Can Psychedelics Treat Climate Grief? (Michael Pollan – The Nation)
We can no longer ignore the potential of psychedelic drugs to treat depression (Robin Carhart-Harris – The Guardian)
Psychiatrist Explores Possible Benefits Of Treating PTSD With Ecstasy Or Cannabis (Julie Holland – NPR)
The Power of Psychedelics (Scientific American)
Psychedelic Science Funders Collaborative is Hiring Directors
2020 has certainly evolved in an unexpected direction and I hope you, your families and communities are faring well. Personally, I’m concerned for the immediate healthcare crisis and economic challenges, as well as the mental health struggles many face as things evolve. I’ve shifted from logging too many miles on planes to logging 10+ miles a day walking up and down the Charles River (If you hear bird songs in the background when we’re talking, now you know why!)
My focus on advancing psychedelic-assisted therapies continues and I’m curious to see how the present situation will affect progress or force adaptation in how efforts move forward. The work being done is fueled by innovative and risk-tolerant capital (philanthropy, early stage, venture capital, etc), and it remains to be seen how the present health and financial uncertainties, as well as the urgency of dealing with COVID-19, will affect these critical investments in mental health. Furthermore, much of the work to research and advance psychedelic-assisted therapies through the FDA/EMA relies on the ability to perform clinical trials and there are issues as to how added costs, social distancing, delays and complications will affect the progress.
The present times are a reminder that work around mental health is more important than ever. My son Alex and I, with the incredible support of Sherry Rais and others, continue to work with leadership at Massachusetts General Hospital to build their Psychedelics Research Center and with the Strategic Planning Committee at the California Institute for Integral Studies, the only accredited academic institution training therapists to perform psychedelic-assisted therapy.
We are also working with MAPS (Multidisciplinary Association for Psychedelic Studies) which received fantastic news from their FDA Phase 3 trial of MDMA for post-traumatic stress disorder. The Interim Analysis of the first half of that trial demonstrated sufficient efficacy that they will be able to complete the trial without adding additional participants, indicating a very high probability of overall successful outcomes and approval! MAPS is raising $30 million to complete the trial and begin making treatments commercially available. PSFC (Psychedelic Science Funders Collaborative) has partnered with MAPS to achieve this through the Capstone Fund, and we are involved in that effort.
Additionally, in March, the Boston Psychedelic Research Group (BPRG) hosted Harriet De Wit from the University of Chicago, who researches microdosing with LSD, as well as Jonathan Wilson and Eric Smith, who shared stories of what they are doing with the SEAL Future Foundation to help retired Navy SEALs reintegrate back into society. These (and earlier) BPRG meetings are available online here. The next BPRG meeting with Janis Phelps and Bill Richards will be held virtually via Zoom on May 3 at 12pm ET. Also, last week we held a Global Conference Call with Robin Carhart-Harris, with over 300 registrants. You can watch a recording of that call here. The next call will be May 12th at 11am ET with Christian Angermeyer, Founder of ATAI Life Sciences, who is creating a biotech platform to heal mental health disorders and doing important work on several psychedelic treatments.
The beauty of these strange times is that there’s plenty of time to catch up with many of you. Don’t hesitate to reach out!
Below I’ll share some upcoming virtual events (a few of which I’m facilitating or speaking at), as well as recent articles you may find interesting.
If you want to dive more deeply into this topic, feel free to peruse videos and other learning resources at http://www.dicksimon.com/psychedelic-medicines/.
Be Well!
Dick Simon
Upcoming (Virtual) Events:
May 3, 12pm ET: BPRG Virtual Meeting with Bill Richards and Janis Phelps. Join HERE
May 12, 11am ET: Global Conference Call with Christian Angermayer. Register HERE
May 21: MAPS Virtual Seminar is a weekly series bringing together leaders from a wide range of psychedelic-related pursuits. Learn more and register here.
On-going – See this online psychedelics event calendar for a running list of virtual learning opportunities.
Not psychedelic related, but great! – Yale University is offering a free course, The Science of Wellbeing, that explores what psychological science teaches us about how to be happier, feel less stressed and flourish more.
Useful Links:
2020 is an exciting time to be working for the advancement of psychedelic-assisted therapies as they move into the mainstream. See below for updates (including the creation of a Psychedelic Research Center at Massachusetts General Hospital!) and feel free to reach out with any questions, comments or suggestions.
At the World Economic Forum in Davos, I was heartened to experience the tremendous resonance these topics held for participants in an economics conference. We organized a half-dozen panels, forums and other events with a collection of researchers, advocates, and entrepreneurs including Rick Doblin (MAPS), Rachel Yehuda (Mt.Sinai), Khaliya (Falkora) and David Erritzoe (Imperial College).
Massachusetts General Hospital (MGH) is launching a world-class Psychedelics Research Center and I’m honored and extremely energized to be leading their Advisory Council. It is critical that rigorous science helps to understand and define psychedelic-assisted therapies, which is why I’m so enthusiastic about the proliferation of research centers emerging in the United States and beyond.
MGH is particularly well-positioned to enter the psychedelics research ecosystem. MGH is Harvard University Medical School’s teaching hospital and generally considered to have the top Psychiatry Department in the US, along with world-class imaging facilities and many other relevant resources and faculty. This center is being led by Dr. Jerrold Rosenbaum, the 19-year Chief of MGH’s Psychiatry Department (and a longtime friend) and has Bruce Rosen, the inventor of the fMRI, as it’s Chief Scientific Officer. We’re currently bringing together a community of researchers, supporters, and other advisors to fuel this center – please be in touch to learn more!
In January the Boston Psychedelic Research Group (BPRG) hosted Robin Carhart-Harris, Director of the Centre for Psychedelic Research at Imperial College, for a 150+ attendee presentation about his groundbreaking work leveraging neuroimaging to better understand the effects and potential implications of psychedelics. This event was the most recent installment of the network of researchers, therapists, and supporters brought together through the BPRG. We’re helping other cities bring this community model to their local research ecosystem – be in touch if you’d like to get involved!
I’ve also been very involved with Fantastic Fungi, an amazing film that shines a light on the fascinating but largely-overlooked significance of fungi and also serves as an approachable entry point to understanding the promise of psychedelic-assisted therapies. Learn about the screenings near you here and reach out if you’d like to host or sponsor a screening in your area on March 26, when over 500 theaters from around the world will simultaneously screen the film and an exciting panel discussion for Fantastic Fungi Day!
Please see LINKS below to news you may be interested in and let me know if you have any questions or if I can be of help in any way.
Dick Simon
LINKS
There are a few exciting updates about mental health and psychedelic medicines that I wanted to share:
1) I have been organizing an event at Harvard Business School where Rick Doblin and George Goldsmith will both be speaking on May 13 from 5:30-8:00 PM. The event is intended to be for HBSAB and HKSNEAA members but If you are interested in the topic / available and in Boston that day, or know somebody who will be, you/they can register here as a Harvard Kennedy Alumni attendee (HKSNEAA). It will be great to have them both speak about their journeys testing and seeking approval for the use of psychedelic medicines for mental health. Would be great if you could make it and/or if you could help spread the word.
2) Rick Doblin’s organization, MAPS, is looking for a COO. Ideally the candidate would live in California (although location is flexible) and have 5+ years of experience. If you know anyone who may be interested, please share this job posting with them.
3) Business Insider created a list of 100 people who are transforming the world of business and Rick Doblin made it on the list for his work with MAPS! Rick also completed a TED talk last week, which I will be sharing soon.
GREAT things are happening all around in this space and it is a wonderful time to be involved.
Dick Simon