Weekly Psychedelic News – Week 13, 2023

Stay up-to-date with the latest in the world of psychedelics with our weekly news roundup for week 10 of 2023. Read about the latest research, policy updates, and industry developments in the rapidly growing field of psychedelic science.

Missouri House Backs Bill Requiring State Research on Psychedelics to Treat Depression, PTSD

In hopes of helping veterans and other Missourians facing mental health issues, the Missouri House advanced a bill Wednesday that would require the state to conduct a study on using psilocybin, also known as “magic mushrooms,” to treat depression, substance use or as part end-of-life care.

“Substance abuse and suicide are escalating in the veterans community,” Rep. Aaron McCullen said, quoting a letter from the Grunt Style Foundation that serves veterans. “While psilocybin is not a panacea for every issue, it represents a first true scientifically-validated hope that we have to address this crisis.”

Field Trip Announced Layoffs, Clinic Closures & Creditor Protection

Field Trip Health & Wellness Ltd. has announced closure of 5 of their 14 clinics in order to reduce expenditures and preserve capital. They will be closing clinics located in Chicago, Washington DC, Seattle, San Diego and Fredericton as of April 15, 2023.

Under the country’s Companies’ Creditors Arrangement Act (CCAA) a Canadian court granted the company protection from creditors which allows them to remain in operation.

They also announced a “companywide” reduction impacting an unspecified number of corporate and clinical staff, and chairman and chief executive Ronan Levy stepped down.

Psychedelic Market Update – March 27th – 31st

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