The New Psychedelics: One Dose, Eight Hours, a Therapist on Standby
Biotech firms developing magic-mushroom-based treatments are trying to shed their countercultural image and recast mood-altering compounds as medicine.
Illustration: Rania Esstafa for Bloomberg
Behind the heavy wooden doors of a drafty 1920s building in central London, an eclectic mix of scientists, psychologists, investors and even a philosopher gathered on a rainy December morning to discuss the state of the psychedelics industry.
One speaker wore an electric-blue velvet pantsuit with glittery sneakers, another a thick furry coat, a contrast to investors and executives in suit jackets and collared shirts. Conversations amid the winter gloom included the transformative power of ayahuasca retreats, “love potions” and the elusive nature of reality. The event was a far cry from a traditional pharmaceutical industry conference, though one aspect was familiar: Companies were there, touting upcoming drugs. What was different was the drugs themselves.