Top Psychedelics Drug Development Startups and Companies by Compound

The interest in the potential for psychedelic medicine to upend  traditional healthcare has exploded as regulations begin to ease and research advances across the globe. Startups are looking towards psychedelic compounds such as DMT, psilocybin, ketamine, and LSD to extract potential solutions for difficult-to-treat conditions. 

These treatments carry new promise for those with mental health disorders such as depression, abuse disorders, and anxiety, as well as the potential to impact physical conditions regarding nervous system function, pain management, and inflammatory conditions, with most carrying far fewer complications than many traditional medications, such as SSRIs. 

Psychedelic startups typically lean on one compound to develop their initial drug pipelines. But as innovation progresses, they have incorporated additional psychedelic substances into their development. 

With the combination of powerful psychedelic medicine and the proposed reduction of some of the undesirable side effects of traditional medications, the popularity of psychedelic treatment research is advancing quickly. 

DMT is a popular compound among psychedelic startups due to its strong effect on serotonergic receptors in the brain. DMT treatments typically work by disrupting the way the brain processes information and essentially ‘resetting’ patient behaviors. These methods have proven clinically effective for mental health disorders such as depression and anxiety.

Another popular use of DMT is the synthesis of its active compounds, particularly with 5-MeO-DMT. This synthesized version of DMT provides a safer health profile and quicker treatment time compared to other psychedelics. 

Here are some psychedelic companies working with DMT:

Location: Dublin, Ireland
Substance/Compound: DMT
What the company does: GH Research is focused on developing treatments for psychiatric conditions using the serotonergic psychedelic 5-MeO-DMT. The treatments seek to regulate nervous system function through agonist action on serotonin receptors. 

Learn more about GH Research on their website.

Location: London, England
Substance/Compound: DMT
What the company does: Small Pharma is a pharmaceutical development company using DMT-based therapies for fast-acting antidepressant treatments.

Learn more about Small Pharma on their website.

Location: Beckley, Oxfordshire
Substance/Compound: DMT, Psilocybin
What the company does: Beckley Psytech utilizes advanced digital tools and a deep network of specialists to develop psychedelic treatments that fundamentally change how psychiatric and neurological conditions are treated. Berkley Psytech is led by Lady Amanda Feilding, also known as the “hidden hand”, who is renowned as one of the leading pioneers of psychedelic science. 

Learn more about Beckley Psytech on their website.

Location: La Jolla, California
Substance/Compound: DMT, Psilocybin
What the company does: CB Therapeutics is an innovative bio-manufacturing solution that uses a proprietary yeast platform to accelerate the natural metabolic process in psychedelics. Their consistent process delivers reliable psychoactive molecules to reputable psychedelic-based companies. 

Learn more about CB Therapeutics on their website.

Location: Toronto, Ontario
Substance/Compound: DMT
What the company does: PharmaDrug utilizes DMT-based medicines to treat eye-disease. Their lead candidate has received orphan drug designation (ODD) for the prevention of ischemia-reperfusion injury. 

Learn more about PharmaDrug on their website.

Location: Tampa, Florida
Substance/Compound: DMT, Psilocybin
What the company does: Psilera is utilizing natural psychoactive products to build innovative neurological drugs for mental health treatments. Psilera increases the accessibility of psychedelic medicine by making small adjustments to psychoactive compounds to reduce side effects and hallucinations. 

Learn more about Psilera Bioscience on their website.

Location: Coquitlam, British Columbia
Substance/Compound: DMT
What the company does: Entheon Biomedical is a biotechnology company developing and commercializing a variety of DMT-based therapeutic products used to treat substance abuse disorders. 

Learn more about Entheon Biomedical on their website.

Psilocybin is a psychoactive compound commonly found in ‘magic mushrooms’. It produces a strong hallucinogenic effect when ingested but also proves to be an effective treatment for mental health conditions such as depression and addiction. 

Psilocybin has recently experienced a friendlier legislative stance which has opened up doors for its use in medicine. Psychedelic startups have made headway by capitalizing on the medicinal benefits while minimizing the hallucinogenic effect. This increases the accessibility of its medicinal potential to the larger population. 

Most commonly administered in microdose quantities (often 1/10th of a “full” dose) and often in combination with psychotherapy, psilocybin can also be used to treat physical illnesses such as lung inflammation, liver disease, and hypothalamic obesity.

Location: Altrincham, Chesire
Substance/Compound: Psilocybin
What the company does: Compass Pathways is designing psychedelic-based mental health therapies for a variety of disorders. Their primary product is the COMP360 psilocybin therapy targeting treatment-resistant depression. 

Learn more about Compass Pathways on their website.

Location: Melbourne, Australia
Substance/Compound: Psilocybin
What the company does: Incannex has designed six clinical programs curated to “Alleviate Human Suffering”. The programs use a combination of primarily psilocybin-based medicines and psychotherapy to address a variety of disorders, such as lung inflammation, sleep apnea, and rheumatoid arthritis. 

Learn more about Incannex Health on their website.

Location: Toronto, Ontario
Substance/Compound: Psilocybin
What the company does: Cybin is engineering proprietary drug discovery platforms, drug delivery systems, and psychedelic treatments for mental health disorders. Their primary psychedelic development programs are focused on addressing depression, alcohol addiction, and anxiety. 

Learn more about Cybin on their website. 

Location: Vaughan, Ontario
Substance/Compound: Psilocybin, Cannabis
What the company does: Revive Therapeutics develops cannabis and psilocybin-based therapies targeting rare inflammatory conditions such as liver disease. 

Learn more about Revive Therapeutics on their website.

Location: Toronto, Ontario
Substance/Compound: Psilocybin, DMT
What the company does: Mindset Pharma is developing psychedelic compounds for the treatment of psychiatric and neurological disorders. With four families of treatments, drug development primarily consists of synthesized psilocybin and DMT.

Learn more about Mindset Pharma on their website.

Location: Vancouver, British Columbia
Substance/Compound: Psilocybin
What the company does: Optimi Health accelerates the development of psychedelic science by supplying pharmaceutical-grade natural and synthetic psilocybin compounds.

Learn more about Optimi Health on their website. 

Location: Vancouver, British Columbia
Substance/Compound: Psilocybin
What the company does: Bright Minds uses psychedelic-based drugs to treat the central nervous system and mental health disorders. Their treatments are primarily centered on optimizing the relationship between serotonin and the brain, seeking to regulate dysfunction in the serotonin system. 

Learn more about Bright Minds BioSciences on their website.

Location: Kelowna, British Columbia
Substance/Compound: Psilocybin
What the company does: Tryp Therapeutics develops psilocybin-based treatments targeting chronic pain and mental health disorders. Their primary pipeline, TRP-9902, is a psilocybin-based treatment applicable to conditions such as fibromyalgia, binge eating disorder, and hypothalamic obesity. 

Learn more about Tryp Therapeutics on their website.

Location: Vancouver, British Columbia
Substance/Compound: Psilocybin
What the company does: Filament Health develops naturally-derived psychedelic medicines produced through cost-effective methods to increase the global availability of their products. These medicines primarily utilize the many psychoactive compounds found in mushrooms, such as psilocybin and norpsilocin.

Learn more about Filament Health on their website.

Location: New York, New York
Substance/Compound: Psilocybin
What the company does: Reset Pharmaceuticals is a biotechnology company developing commercial-grade psychedelic treatments for patients with life-threatening illnesses like cancer. Reset’s primary focus is using psilocybin-based medicine to treat mental health conditions that accompany cancer. 

Learn more about Reset Pharmaceuticals on their website.

Location: Oxford, Ohio
Substance/Compound: Psilocybin
What the company does: PsyBio combined biotechnology with psychedelic research to develop psycho-targeted compound treatments for mental and neurological health.

Learn more about PsyBio Therapeutics on their website.

Location: Denver, Colorado
Substance/Compound: Psilocybin
What the company does: Mydecine is a biotechnology company creating innovative psychedelic-based medicine with a focus on treatments for Post-Traumatic Stress Disorder and nicotine addiction. They leverage their multinational network of medical specialists and strategic partnerships to increase the efficiencies of the drug development process. 

Learn more about Mydecine Innovations Group on their website.

Location: Copenhagen, Hovedstaden
Substance/Compound: Psilocybin, Cannabis
What the company does: Octarine Bio is a synthetic biology platform using cannabinoids and psychedelics to develop therapeutics targeting a variety of medical conditions. Their proprietary technology utilizes synthesis, yeast fermentation, and enzymatic derivatization to develop validated pharmaceuticals. 

Learn more about Octarine Bio on their website.

Location: Los Angeles, California
Substance/Compound: Psilocybin
What the company does: Wake Network develops consumer products for wellness utilizing medicinal and psychedelic mushrooms in combination with genomics-based integrations. 

Learn more about Wake Network on their website.

Location: Kelowna, British Columbia
Substance/Compound: Psilocybin
What the company does: Mynd Life Sciences is developing treatments for depressive disorders such as Post-partum Depression in mothers. Their treatments seek to normalize women’s health post-birth through the use of psilocybin-based medicines. 

Learn more about Mynd Life Sciences on their website.

Location: Vancouver, British Columbia
Substance/Compound: Psilocybin
What the company does: Clairvoyant Therapeutics is treating those with alcohol use disorder through psilocybin-based therapies. Their therapies consist of psilocybin drug administration and staged counseling sessions to achieve a paradigm shift in affected patients. 

Learn more about Clairvoyant Therapeutics on their website.

Location: Toronto, Ontario
Substance/Compound: Psilocybin
What the company does: Diamond Therapeutics develops therapies for neuropsychiatric conditions using psilocybin-based medicines.  These low-dose therapies are designed to be accessible to a broad range of patients through cost-effective options that eliminate side effects. 

Learn more about Diamond Therapeutics on their website.

Location: Homer Glen, Illinois
Substance/Compound: Psilocybin
What the company does: Wesana Health is utilizing data-driven methods to develop psychedelic-based therapies targeting an array of mental health conditions.

Learn more about Wesana Health on their website.

Location: Vancouver, British Columbia
Substance/Compound: Psilocybin
What the company does: Levitee Labs is seeking to use psychedelic-based treatments to bridge the gap between what the medical system currently provides and what the patients need. Levitee Labs has also implemented an aggressive M&A approach by adding companies such as MONKE Nutra and Ojio to their portfolio to increase their offerings. 

Learn more about Levitee Labs on their website.

Location: Oakville, Ontario
Substance/Compound: Psilocybin
What the company does: NeonMind Biosciences is developing psychedelic-based medicines for the treatment of obesity and weight management. Their pipeline consists of NEO-001 and NEO-002, which combine synthetic psilocybin with behavioral therapy to improve patient appetite behaviors. 

Learn more about NeonMind Biosciences on their website.

Ketamine has been used professionally in healthcare for decades as an anesthetic drug. It is FDA-approved for treatment-resistant depression with suicidal ideation, with many other “off-label” applications (meaning: other than what the FDA officially recognizes).  

Ketamine has proven to be an effective anesthetic, in part because of its ability to cause dissociation in patients or the separation of mind from body. As research on the compound progresses, clinicians are finding additional use cases for treating medical conditions such as anxiety, post-traumatic stress disorder (PTSD), obsessive-compulsive disorder (OCD), mental health disorders, and substance abuse disorders. 

Psychedelic startups are taking advantage of recent findings and are developing novel products to treat a broader range of patients outside of a professional setting. Ketamine has also been widely used in combination with other psychedelics, as its effects have proven synergistic when used with other drugs. 

Here are some pharmaceutical companies working with ketamine:

Location: Munich, Germany
Substance/Compound: Ketamine, Ibogaine, DMT, MDMA, Psilocybin
What the company does: ATAI Life Sciences is a psychedelic company developing evidence-based psychedelic therapies to treat psychiatric disorders such as depression, anxiety, and schizophrenia. ATAI is also an investor in the space, providing funds to other psychedelic companies to accelerate development.

Learn more about ATAI Life Sciences on their website.

Location: Boston, Massachusetts
Substance/Compound: Ketamine, Psilocybin
What the company does: Delix is utilizing the recent discovery of neuroplasticity therapeutics called pyschoplastogens to develop treatments for selective rewiring of neural circuits. Their non-hallucinogenic therapeutics are designed to be deployed at scale. 

Learn more about Delix Therapeutics on their website.

Location: New York, New York
Substance/Compound: Ketamine
What the company does: Seelos Therapeutics is developing psychedelic and non-psychedelic-based therapies addressing the unmet needs of patients with central nervous system disorders such as Lou Gehrig’s disease and Parkinson’s disease. 

Learn more about Seelos Therapeutics on their website.

Location: Vancouver, British Columbia
Substance/Compound: Ketamine
What the company does: Numinus Wellness provides a holistic approach to mental healthcare through ketamine-assisted psychotherapy, psychedelic medicine, and mindfulness approaches. 

Learn more about Numinus Wellness on their website.

Location: San Francisco, California
Substance/Compound: Ketamine
What the company does: Osmind is a medical technology platform that aids in the development of psychedelic-based medicines and research. Osmind provides technical solutions to healthcare providers using medications and treatments such as TMS, Ketamine, SPRAVATO, and other psychedelic compounds. 

Learn more about Osmind on their website.

Location: San Francisco, California
Substance/Compound: Ketamine
What the company does: Freedom Biosciences develops psychedelic pharmaceuticals with psychoactive compounds such as Ketamine to deliver efficacious treatments to those with mental health disorders. 

Learn more about Freedom Biosciences on their website.

Location: Vancouver, British Columbia
Substance/Compound: Ketamine
What the company does: Braxia Scientific provides treatment for adults with depression, suicidality, and related disorders through ketamine based-treatments. 

Learn more about Braxia Scientific on their website.

Location: Toronto, Ontario
Substance/Compound: Ketamine
What the company does: PharmaTher produces Ketamine-based products for the treatment of neurotic pain and mental health conditions. Their product line currently consists of the Ketamine Patch, Ketamine IV, and Ketamine Pump.

Learn more about PharmaTher on their website.

Location: Toronto, Ontario
Substance/Compound: Ketamine, MDMA
What the company does: Awakn Life Sciences is developing commercial psychedelic therapeutics to treat addiction. They are currently focused on developing treatments for addiction disorders such as gambling disorder, compulsive sexual behavior disorder, and binge eating disorder.

Learn more about Awakn Life Sciences on their website.

Location: Toronto, Ontario
Substance/Compound: Ketamine
What the company does: Field Trip has designed an in-person Ketamine Assisted Therapy program that targets chronic pain. The 1-year program consists of ketamine therapy, meditation, and wellness support to aid in pain management and increase overall health.

Learn more about Field Trip on their website.

Location: Santa Barbara, California
Substance/Compound: Ketamine
What the company does: Bexson has developed a wearable on-body drug delivery system for the treatment of pain management. Using a ketamine-based compound, the device was designed to combat the rising opioid crisis fueled by traditional painkillers. 

Learn more about Bexson BioMedical on their website.

Location: San Diego, California
Substance/Compound: Ketamine
What the company does: Mycrodose is a pharmaceutical company developing drug delivery systems for psychedelic microdoses targeting cancer-related conditions, mental health, and cognitive degenerative diseases. 

Learn more about Mycrodose Therapeutics on their website.

LSD was initially synthesized and used in medical settings during the early 1950s to 1970, but harsh regulation hindered its advancement as a viable treatment. Recently, LSD has experienced a softening of legislative boundaries leading to a rise in its research for healthcare applications, where there are many purported benefits.

LSD has been clinically proven to provide effective treatment for health conditions such as mental health disorders, pain management, and dementia. Many psychedelic startups seek to minimize the unwanted side effects and isolate its medicinal benefits to make the compound more available to patients.

Location: New York, New York
Substance/Compound: LSD, MDMA
What the company does: MindMed uses psychedelic-based therapies to deliver treatment in fields such as addiction, pain, and psychiatry. Their drug portfolio consists of medicines (MM-120 and MM-402) derived from compounds such as LSD and MDMA.

Learn more about MindMed on their website.

Location: Issaquah, Washington
Substance/Compound: LSD, Psilocybin, DMT
What the company does: CaamTech promotes the overall well-being of consumers through psychedelic formulations containing multiple psychoactive compounds from LSD, psilocybin, and DMT.  

Learn more about CaamTech on their website.

Location: Montreal, Quebec
Substance/Compound: LSD
What the company does: Betterlife develops non-hallucinogenic psychedelic-based therapeutics for the treatment of mental health and neurological disorders. Betterlife’s flagship product is the LSD-based BETR-001, which mimics the medicinal properties of LSD without producing hallucinogenic effects. 

Learn more about Betterlife Pharma on their website.

Location: Pittsburgh, Pennsylvania
Substance/Compound: LSD
What the company does: Mindstate Design Labs is a drug development company that designs psychedelic-initiated altered states of consciousness for mental health therapy.

Learn more about Mindstate Design Labs on their website.

Location: Calgary, Alberta
Substance/Compound: LSD, DMT, MDMA, Psilocybin
What the company does: Psygen Labs is accelerating psychedelic research through the synthesis of psychedelic compounds. Their catalog of database APIs are designed to increase efficiencies in the psychedelic supply chain for drug developers, researchers, and clinicians.

Learn more about Psygen Labs on their website.

Location: Hialeah, Florida
Substance/Compound: LSD, Psilocybin, DMT
What the company does: Return Health utilizes psychedelic-based medicine to treat dementia. Their treatments are agonists of the serotonin receptor 5HT-2AR, impacting many brain functions involved in dementia. 

Learn more about Return Health on their website.

Location: Vancouver, British Columbia
Substance/Compound: LSD, MDMA, Ketamine
What the company does: Mindleap is a mobile psychedelic wellness platform that offers consumers psychedelic education, meditations, and coaching to cultivate a comprehensive psychedelic journey.

Learn more about Mindleap on their website.

Most psychedelic startups have integrated highly-researched psychedelic compounds mentioned above, but some companies have found use cases in other substances. 

Compounds such as ibogaine, mescaline, and amanita muscaria have proven effective in treating multiple health conditions. Some startups, such as Clearmind Medicine, have developed a proprietary compound that combines the benefits of multiple psychedelics. 

As research into psychedelic medicine progresses, companies will continue to explore uses for psychedelic medicine outside of the popular compounds, even developing entirely new substances.

Location: New York, New York
Substance/Compound: Ibogaine
What the company does: Gilgamesh is harnessing the therapeutic capabilities of psychedelic compounds to develop innovative treatments for various mental illnesses. They use their deep medical expertise and AI-powered platform to increase efficiencies across the drug development process. 

Learn more about Gilgamesh Pharmaceuticals on their website.

Location: San Francisco, California
Substance/Compound: Mescaline
What the company does: Journey Colab is developing synthetically-derived psychedelic therapeutics for addiction treatment. Their flagship product is the synthetic Mescaline HCI used for the treatment of alcohol addiction. 

Learn more about Journey Colab on their website.

Location: Toronto, Ontario
Substance/Compound: Amanita Muscaria
What the company does: Psyched Wellness develops a consumer product line of psychedelic-based wellness solutions. Their product, Calm, is the first legal Amanita Muscaria (hallucinogenic mushroom) extract available in the USA. 

Learn more about Psyched Wellness on their website.

Location: Vancouver, British Columbia
Substance/Compound: MEAI
What the company does: Clearmind is using psychedelic-based treatments targeting binge behavior and mental health, including nicotine abuse and depression. Clearmind has developed a new psychoactive compound, MEAI, that produces an alcohol-like experience while decreasing the urge to consume alcohol. 

Learn more about Clearmind Medicine on their website.

Location: Vancouver, British Columbia
Substance/Compound: Ibogaine, MDMA
What the company does: Mindcure is combining proprietary technology and research capabilities to promote “Mental Wealth” through psychedelic-based treatments. Their flagship product, iSTRYM, is a health software that helps optimize psychedelic-led psychotherapy sessions. 

Learn more about Mindcure on their website.

Location: Vancouver, British Columbia
Substance/Compound: Ibogaine
What the company does: Universal Ibogaine utilizes the psychedelic West-African shrub, Ibogaine, to develop psychotherapy treatments for opioids and other addictions. Their treatments aim to manage dopamine and serotonin circuits to influence addiction behavior changes. 

Learn more about Universal Ibogaine on their website.