Last year, Microdose provided a stomping ground for those interested and involved in the psychedelic medicine space, with over 1600 attendees, including sponsors and investors over two packed days with engaging content, lively panel discussions, and insights from world-class researchers.
Some of the world’s most famous entrepreneurs, founders, executives, sports stars, actors and policymakers spoke during the two-day event, including heavyweight celebrities like legendary boxer Mike Tyson, former professional hockey player Daniel Carcillo, and Rick Doblin, Executive Director of the Multidisciplinary Association for Psychedelic Studies (MAPS).
Wonderland 2021 was truly a summit for those curious about the potential of psychedelics and to witness the disruptive innovation happening within this emerging space.
If you didn’t attend last year’s event, here’s everything you need to know about one of the most prominent psychedelic conferences and what’s coming up next.
Psychedelics as therapies are becoming more established and poised to go mainstream
It quickly became clear at Wonderland 2021 that psychedelics as therapies promise to transform mental health treatment. While the challenges of conducting robust clinical trials have not disappeared, the growing legitimacy of psychedelics as therapies among regulators and healthcare workers is undeniable.
Many mental health care and biotech companies opted to show off their positive groundbreaking clinical trials and research results. “As demonstrated by the data, we have taken the necessary steps to potentially unlock the powerful benefits of psychedelics and engineer a superior molecule. We are on a mission to make ethical, safe scientific progress in advancing the care and treatment of mental health patients,” said Doug Drysdale, Cybin’s Chief Executive Officer.
Journalists representing the world’s most prominent media outlets took part in Wonderland 2021, highlighting the modern rise of psychedelic research and its potential to beat the scourge of clinical depression.
The intersection of psychedelics and technology will open new doors
The potential of using VR technology as an adjunct to psychedelic therapies could have far-reaching implications, both in the therapeutic and recreational use of psychedelics. VR used in tandem with psychedelic medicine will open new pathways for psychedelic research, treatment, and general study of the human mind. “Accessing the self is really the piece of this technology that allows so much transformation,” said Kelsey Ramsden, President and CEO of Mindcure. “Utilizing the combination of technology and psychedelic medicines gives us an opportunity really change mental wealth.”
As interest in the psychedelics market gains traction, several drug companies are now employing artificial intelligence (AI) technology to research new compounds to treat various mental and physical conditions.
“We think this is a new paradigm in drug discovery, and we’re harnessing the world’s most powerful solving machine, which is an evolution,” said Dr. Suran Goonatilake, the cofounder of April 19, an AI driven drug-discovery company focused on novel psychedelic compounds. “We are combining evolution, deep learning, with expert knowledge. We think this is just a start.”
The psychedelic industry is a multilayered space, offering returns for early backers
The psychedelics industry appears to be poised for exponential growth. The extraordinary therapeutic potential of psychedelic drugs for treating PTSD and anxiety makes them highly desirable for spiritual growth and psychological healing.
Despite being an industry in the infancy stage, the potential for psychedelic health therapy is growing, with the market projected to reach $10.75 billion by 2027. At institutions like John Hopkins University and New York University, research exploring psilocybin as a therapy for treatment-resistant depression, drug addiction, and other anxiety disorders shows encouraging results.
“You will see more institutional investor enthusiasm, and I think especially as the FDA gives feedback on the data,” said Patrick Trucchio, the Managing Director of Equity Research at H.C Wainwright. “That’s extremely important. The FDA needs to continue to be kind of supportive and constructive for institutions to get more involved.”
“I think the train has left the station, and it is because psychedelics serve as a big umbrella for the potential for all of these new substances to make their way into the mainstream,” said the managing partner of JLS Fund, Lindsy Hoover. “The world is woken up to the fact that there is really no health without mental health.”
Momentum building for psychedelics legal reform
Recent years have seen compelling research, evidence-based therapy, and a rise in demand for psychedelics, particularly for their potential to treat various mental health complications. While this sector has seen unprecedented attention and investment, numerous questions remain over its future.
However, recent trends from Canada and the US signal that momentum is building for the necessary policy reforms paving the way for legalization and the normalization of psychedelic medicine. “I think in the near term future, we’re going to see proprietary compounds containing psychedelics, for example, psilocybin or MDMA, complete the FDA approval process,” said Courtney Barnes, an attorney leading in drug policy reform. I believe that as more cities and states get to push legalization via grassroots efforts, we have the potential to see a widespread access model one day.” The continent-wide push to relax drug laws has taken a significant step forward in recent years as Oregon became the first state to legalize psilocybin in the US. Meanwhile, British Columbia became Canada’s first jurisdiction to decriminalize small amounts of drugs.
Miami’s blueprint for disruptive innovation
Miami is one of many US cities trying to shave off the outsize influence of Silicon Valley’s tech scene by establishing it as a epicenter for innovation. Several other cities in the US have seen their tech scenes rise to national prominence.
Take for instance two local start-ups, fintech firm PIPE and senior care start-up Papa, which reached billion-dollar unicorn status in 2020. Moreover, Softbank has already shelled out $250 million in Miami, doubling its investment commitment this year. The businesses who moved in have stuck around, and local entrepreneurs and start-ups expect more to come as other tech hubs are struggling to attract talent due to interruption caused by the covid-19 restrictions and political polarization.
One of the most important takeaways of Wonderland is how bright and diverse this industry’s talent pool is. Whether you were listening to VICE journalist Shayla Love dissecting the sector’s future, or CEO of DemeRX Deborah Mash’s advice on effective strategies for building early-stage pharmaceutical development companies. The ideas were innovative and insightful, and the energy was electric.
The upcoming Wonderland will serve as an opportunity to celebrate. With the current bear market casting a large shadow over the industry, the psychedelic community and investors deserve a little reminder of virtues like positivity, forward-thinking, and patience when it comes to disruptive sectors.
‘Wonderland is more than a business conference; it is about building a vibrant community by connecting the dots — between talent, capital, partner organizations. For many of the participants, it was the first time they had managed to meet business leaders in person,” said Connor Haslam, CEO of Microdose Psychedelic Insights.
“Wonderland 2022 will be bigger, more comprehensive, and ready to welcome guests as Miami is rapidly establishing itself as a global start-up hub. Our new venue allows us to activate even more experiences alongside the biggest speakers and bright minds in the psychedelic landscape. Get ready to join us in Wonderland.”
Microdose has already announced big industry names like Paul Stamets, Christian Angermayer and will continue to unveil partners, session topics, and speakers in the coming weeks. To learn more or register for Wonderland 2022, please visit microdose.buzz/wonderland.
Those interested in presenting at Wonderland may complete the application to become a speaker. Companies interested in sponsoring the event may reach out to Daniela Pauli for more details or book a call.
