The psychedelic medicine industry is growing. There’s rapid expansion in both the number of firms joining the industry and the amount of daily news and major announcements.
Yet with bigger names hogging the limelight, and only so much time in the day, it’s easy for smaller companies to get lost in the shuffle. Yet these small cap firms offer interesting potential opportunities for investors, so to help you stay informed we’ve put together a list of some of the top small cap companies.
Optimi Health
CSE: OPTI
Market Cap: $45.1 million
Optimi Health is currently focused on production and sales for the health and wellness markets. Optimi is building a vertical model that will cultivate, extract, process and distribute functional mushroom and psychedelic products.
Building 20,000 square foot facilities in British Columbia, Optimi is investing in the infrastructure required to supply the growing market demand of a variety of sectors. The company has received a research exemption under Health Canada Food and Drug Regulations for the use of Psilocybin and Psilocin for scientific purposes, and has applied for a dealer’s license for the sale, research, and development of Psilocybin and Psilocin formulations.
Despite being a new firm still in its early developmental stages, Optimi Health was recently added to the Horizon’s Psychedelic ETF (PSYK).
PsyBio Therapeutics
TSXV: PSYB
Market Cap: $39.1 million
PsyBio Therapeutics is a biotechnology company focused on developing novel formulations of psychoactive medications, produced by genetically modified bacteria, for the treatment of mental health challenges and other disorders. The company is advancing R&D for naturally occurring psychoactive tryptamines, as well as developing new synthetic molecular structures with unique therapeutic properties.
PsyBio is still in the early preclinical drug discovery stage but has signed several research development partnerships, including a collaboration with Miami University to utilize proprietary platform technology to biologically synthesize psilocybin and other next-generation compounds.
MYND Life Sciences
CSE: MYND
Market Cap: $32.4 million
MYND Life Sciences is a biotech firm focused on developing psychedelic medicines based on neuro-anti-inflammatory substances. MYND was founded by Dr. Wilfred Jefferies and Dr. Lyle Oberg, with Dr. Jefferies being a renowned neuroimmunologist with over 60 patents and 100 journal publications.
The company’s initial focus is on Major Depressive Disorder, working to establish a link between depression and inflammation in the brain – working primarily with psilocybin compounds. MYND has two flagship molecules in their pipeline: MYND-604 and MYND-778. MYND-604 is the company’s lead candidate. a novel oral dosage to treat depression.
Listing on the Canadian Securities Exchange in May 2021, MYND has a Health Canada exception to research psilocybin and has plans for early-stage clinical trials to start in Q1 of 2022.
Levitee Labs
CSE: LVT
Market Cap: $26.5 million
Describing itself as an integrative wellness company, Levitee Labs is taking a broad approach to the delivery of mental health treatment. Launching on the CSE in July 2021, the company has quickly built a diversified development plan, including:
A premium mushroom supplement brand; its Sporeo Supply facility, which manufactures and sells sterilized grain and substrate for mushroom cultivation; a supply and distribution agreement giving Sporeo access to approximately 7,000 retailers; the acquisition of five addiction clinics, three specialized pharmacies, and a telemedicine platform; and finally, an application for a Controlled Drugs and Substances Act license from Health Canada.
Braxia Scientific
CSE: BRAX
Market Cap: $39.6 million
Braxia Scientific, formerly known as Champignon Brands, is a Canadian-based medical solutions company focused on a variety of activities, from owning and operating multidisciplinary clinics providing treatment for mental health disorders, to research activities related to discovering and commercializing novel drugs and delivery methods.
The rebranding to Braxia was meant to reflect the integration of ketamine and psychedelic clinics in its R&D priorities. Under its original Champignon banner, the company was one of the first psychedelic firms to go public (beginning trading in late February 2020)
Braxia is operating a network of multidisciplinary outpatient clinical research treatment facilities across Canada, specializing in providing rapid-acting treatments such as intravenous ketamine and intranasal esketamine, with a focus on helping patients diagnosed with treatment-resistant conditions such as major depressive disorder or bipolar disorder.
Pure Extracts
CSE: PULL
Market Cap: $28.7 million
Pure Extracts is working to be a leader in the extraction side of the business. Boasting a team of experienced extraction professionals and cutting-edge CO² and ethanol extraction technology, the company is positioning itself for distribution and product innovation in the cannabis and psychedelic space.
Pure Extracts’ production facility is in Pemberton, B.C., built for EU-GMP certification (for international sales), and aiming to produce high quality, high purity formulations at a commercial scale. With a growing market in both the cannabis and psychedelic sectors, the firm is investing in scaled production for white-label production and contract sales.
Stay tuned to Microdose for more insight into small cap companies. For a full breakdown of where all the public companies are listed, check out A List of Psychedelic Stocks and Where They’re Traded