Ambria Capital Managing Partner Sees Better Times Ahead In The Psychedelic Sector
In this new Trade To Black Podcast, TDR Founder Shadd Dales and contributor Anthony Varrell spoke with Cody Shandraw, Managing Partner at closed-end venture Fund Ambria Capital. This discussion was a full-spectrum conversation which touched on many topics in the psychedelic industry: from the improving picture on the capital markets side, to the advanced the industry is making.
Speaking about the moribund price action that has dogged the industry for several quarters now, Mr. Shandraw forecasts better times ahead. Anecdotally, he’s seeing investor “confidence starting to come back,”, and those psychedelic companies which survived the fallout, will “start to see the volume increasing because they have the reputation that they will be able to weather the storm.” Watch:
Speaking more broadly on the state of the market, Cody notes the incredible research emanating from the sector and future catalysts to come. Most notably, he’s excited about the prospects for North American regulators to approve MDMA-assisted therapy in the first quarter of 2024. He believes the Multidisciplinary Association for Psychedelic Studies MAPP1 and MAPP2 Phase 3 MDMA-assisted therapy data is so compelling, that regulators will be compelled to approve the therapy.
If his prediction proves correct, it will qualify as a material event in the sector. Should Health Canada or the FDA follow Australia’s lead, they would become the second country to approve psychedelic medicine for certain mental health conditions.
In a surprising move, Australia’s Therapeutic Goods Administration (TGA) announced in February that it would permit the prescribing of MDMA for the treatment of post-traumatic stress disorder and psilocybin for treatment-resistant depression. From July 1st on, both psilocybin and MDMA can be prescribed by specifically authorized psychiatrists for the treatment of certain mental health conditions.
To view our previous Trade To Black podcast with TerrAscend Corp. Executive Chairman Jason Wild, click here.
