NetworkNewsWire Editorial Coverage: Before government legislation brought the world of psychedelic drug compounds to a halt, promising research was being done in the space. As researchers and scientists took closer looks at substances such as psilocybin, ketamine, DMT (dimethyltryptamine), LSD (lysergic acid diethylamide) and more, the potential for the compounds appeared to be widespread and even life-changing for many who struggled with notoriously difficult diseases such as depression, addiction, PTSD and more. And then the Federal Comprehensive Drug Abuse Prevention and Control Act of 1970, known as the Controlled Substance Act, took effect. For decades, the promise of these substances has remained ignored. However, with recent changes in legal guidelines and swings in public opinion, astute researchers — and companies — are showing renewed interest in the huge potential of a sector that, to many, feels much like the cannabis space a few years ago. Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) (Profile) is one of the savvy companies entering the public domain. Much like GW Pharmaceuticals Plc (NASDAQ: GWPH) — which was recently acquired by Jazz Pharmaceuticals (NASDAQ: JAZZ) in a billion-dollar transaction — pioneered the way in cannabis almost a decade ago, Tryp is leading the way with its focus on researching potential treatments for challenging disease through the use of naturally occurring compounds. Other companies are following suit. Through its Bioscience lab, Numinus Wellness (TSX.V: NUMI) was the first public company in Canada to receive a license to produce and extract psilocybin from mushrooms, and the first to complete a legal harvest of psilocybe mushrooms using this license. And Seelos Therapeutics Inc. (NASDAQ: SEEL) just announced positive data from its study evaluating ketamine as a treatment…
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