The Compass Pathways’ announcement that it is filing for a NASDAQ listing has been creating most of the headlines in the psychedelics space in current days.
Flying beneath the radar, one more private business is also moving to go public. Thoughts Remedy Wellness Inc., primarily based out of Vancouver, Canada, just filed its IPO prospectus on Sedar on August 27, 2020.
Go by way of the nuts-and-bolts of Thoughts Cure’s current operations, and it is all about “functional mushrooms”. Functional mushrooms are a huge-and-expanding industry in the dynamic nutritional supplements space – currently pegged at $23 billion per year (in 2019) by Mordor Intelligence.
Thoughts Remedy has an current solution line of functional mushroom goods (“Moonbeam”), for which it is developing each an on the internet and brick-and-mortar distribution network.
Nevertheless, the Corporation states its enterprise model in a great deal a lot more common terms.
A lot more than just functional mushrooms.
Thoughts Cure’s more plans as a wellness & wellness business grow to be apparent when it discusses its R&D plans in the prospectus.
Thoughts Remedy believes that each the functional and psychedelic mushroom goods industry is a considerable enterprise chance and plans to be in position to take portion in this emerging sector. [emphasis mine]
Thoughts Remedy, like most of the psychedelics startups, is functioning toward a Canadian listing on the CSE. It is searching for to raise among CAD$1 million and CAD$two.six million for its qualifying transaction.
Functional and psychedelic mushrooms, and other psychedelics R&D as effectively (per the prospectus).
This is becoming a certain niche inside the bigger psychedelic drug market. Why?
We will connect the dots right here in an upcoming investor function.
Compass Pathways might pretty most likely grow to be a core holding in the psychedelic drug sector immediately after it goes public. But as investors appear to broaden and diversify their psychedelics portfolio, functional-and-psychedelic mushroom organizations like Thoughts Remedy Wellness offer you a new game-program for investors.