Psilocybin for weight loss?

Psilocybin, the naturally occurring compound responsible for the hallucinogenic effects of magic mushrooms, has been making headlines recently for its potential to become a mainstream therapeutic tool. While much of the attention has been focused on its role in psychedelic-assisted therapy for mental health conditions like depression, a new and promising application has emerged: weight loss. This shift is not only catching the eye of researchers but also attracting the interest of investors who see potential in developing synthetic versions of psilocybin for medical and wellness applications.

One of the companies leading this charge is NeonMind Biosciences, a Canadian-based biotechnology firm. The company is actively pursuing the use of psilocybin microdoses to regulate weight by reducing food cravings, curbing impulsive eating, and even boosting metabolism. To protect this innovative approach, NeonMind has filed a patent, setting its sights on creating a psilocybin-based weight management treatment that could revolutionize how we address obesity and related conditions like diabetes. As Jeff Smith, chairman of NeonMind’s board, explains, “Patents, science, and clinical results will ultimately drive the value of companies and efforts to bring these therapies forward.”

The importance of patents in the burgeoning field of psychedelics cannot be understated. In highly competitive markets, patents allow companies to secure exclusive rights over their products, providing investors with confidence that their financial backing will support proprietary, cutting-edge developments. However, when it comes to naturally occurring substances like psilocybin, the patent process is more complex. While the mushrooms themselves cannot be patented, specific extraction techniques or unique therapeutic uses can be. In this case, NeonMind’s patent application focuses not on owning the fungi themselves, but on the innovative ways in which the active compounds—psilocybin and psilocin—can be used for weight management.

In December, NeonMind filed its patent application, seeking rights to use psilocybin and psilocin in a carefully formulated weight loss program. The proposed therapy would tackle several key issues contributing to obesity, such as the reduction of food cravings, better control over impulsive eating behaviors, and a metabolic boost that could encourage healthier eating habits. Additionally, by working to alter the user’s relationship with food, the treatment aims to promote long-term behavioral changes, potentially making weight management more sustainable. Importantly, this patent would not grant NeonMind a monopoly over all psilocybin-based products but rather over its own specific method of extracting and utilizing the compound for weight-related purposes.

While the concept of using psychedelics for weight loss may seem novel, the growing interest in psilocybin as a therapeutic agent is part of a larger trend in the health and wellness industry. Compass Pathways, for example, made headlines when it secured a patent for using psilocybin to treat depression, another area where psychedelics are showing promising results. NeonMind is similarly staking its claim in the field, seeking to carve out a niche in weight management by applying a scientific, evidence-based approach to a holistic therapy that targets both the mind and the body.

Despite the excitement surrounding NeonMind’s approach, the weight loss benefits of psilocybin are still largely unexplored in clinical settings. To move forward, NeonMind will need to navigate the regulatory landscape and demonstrate the efficacy of its formulations in controlled studies. Currently, psilocybin remains a highly restricted substance, classified as a Schedule I drug in the United States, which presents significant hurdles for research and development. The success of NeonMind’s weight loss program will likely depend on how well lab-produced psilocybin and psilocin perform in future FDA trials, which will be necessary to bring such treatments to the market legally.

Nevertheless, NeonMind is preparing itself for the day when psilocybin enters the legal marketplace. The company holds over 120 unique formulas for various products, including beverages and infused foods that contain psilocybin and psilocin. One of its flagship products is a psilocybin-infused coffee, which integrates the compounds into an easily consumable form. This range of formulations positions NeonMind to be a major player in the burgeoning psychedelics industry once regulations allow for wider commercialization.

NeonMind’s history is rooted in the legal cannabis movement. Originally known as Flourish Mushroom Labs, the company is a subsidiary of The Yield Growth Corp, a diversified wellness company based in British Columbia, Canada. Yield Growth made its name in the cannabis space, but as legal and regulatory frameworks began shifting towards psychedelics, the company saw an opportunity to expand its offerings. Today, Yield Growth’s focus has broadened to include the development of wellness products and therapies involving restricted substances like psilocybin. NeonMind, in particular, is one of the company’s leading ventures, bringing cutting-edge psychedelic research to the forefront of health and wellness innovations.

In addition to its patent pursuits, NeonMind recently acquired an 18% stake in Translational Life Sciences, a startup specializing in the development of formulations for restricted substances and conducting clinical trials. This acquisition strengthens NeonMind’s position within the psychedelic space, giving it access to exclusive formulations and research that could prove pivotal as the company moves forward with its weight loss and other psilocybin-based projects.

As the psychedelics industry grows, NeonMind’s pursuit of a psilocybin-based weight loss therapy reflects a broader trend towards natural, science-backed solutions. Consumers are increasingly seeking alternatives to traditional pharmaceuticals, preferring holistic treatments that address both mental and physical health. Jeff Smith, who previously served as the chairman of Johnson & Johnson, sees this shift firsthand. He points out that even major pharmaceutical companies are starting to adopt more holistic, science-based approaches to treatment. As an example, he cites J&J’s recent introduction of Spravato (esketamine), a ketamine-based treatment for depression that represents a significant departure from conventional antidepressants.

Smith’s own journey into the psychedelic space was not a quick decision. Having spent years in the pharmaceutical industry, his shift toward psychedelics was deeply influenced by personal experiences, including seeing the positive impact that ketamine had on his brother’s health. This experience, along with his belief in the potential of psychedelics to transform how we treat mental and physical health conditions, fueled his move to NeonMind and his commitment to pioneering new, natural therapies.

It’s also worth noting that Smith’s departure from Johnson & Johnson came at a time when the company was dealing with several high-profile lawsuits, including claims that its talcum powder caused cancer and its alleged role in distributing opioids during the height of the opioid crisis. Smith had been an advocate for stricter regulations in the pharmaceutical industry long before his exit, arguing for better oversight of consumer products. His shift to psychedelics could be seen as a continuation of his desire to reshape the healthcare industry, focusing on more ethical, science-driven solutions.