☁️🍄 Issue No. 032

Today’s issue is presented by: 

Good morning, folks. Welcome back to Headlines, your weekly resource on the latest happenings in the mental health space. 

QUICK HITS

• Up and up. The global mental health market is set to clear $560B by 2030. 

• Shroom bloom. New multi-site study finds that a single 25mg dose of psilocybin can significantly reduce depression symptoms for weeks. 

• Higher education. UC Berkeley launches “Psychedelics and the Mind” course. 

• Divergent paths. Meet Mentra, a hiring platform looking to empower neurodivergent workers. 

• Who’s building here? Temporary tiny home project to address homelessness helps more than half of residents find homes. 

• Machine mushroom. COMPASS Pathways publishes study on AI-powered predictive model for psilocybin therapy. 

• From URL to IRL. PairedWorld launches a blockchain-powered ecosystem to facilitate and reward IRL social connections. 

• Go with your gut. Analysts project “extraordinary growth” for the business of psychobiotics from 2024–2028. [Re-read Issue No. 023: Gut Feelings]. 

NEWS & TRENDS

1) California decrim: Second time’s the charm? 

The West Coast’s psychedelic revolution is picking up steam — California is just a few steps away from becoming the third-ever state in the US to decriminalize psychedelics. Senate Bill 58 was approved by the State Assembly this past Wednesday in a 42–11 vote, then received a final sign-off from the Senate on Friday. The bill now heads to CA Governor Gavin Newsom’s desk. 

If passed, the measure will allow adults 21 and older to possess and use naturally occurring psychedelics like psilocybin, DMT, and mescaline. This is attempt number two after an earlier version, introduced by Senator Scott Wiener, stalled in August of last year after passing two Assembly committees. The bill has cleared that hurdle and more this time around (albeit with some major amendments). Now? It’s all eyes on Sacramento.  → Read more

2) Moonshot for Mankind

Despite considerable progress, issues around men’s mental health remain largely stigmatized. Over 6M men suffer from depression every year, yet 40% say they have never spoken to anyone about their mental health. Many cite beliefs that they must “man up,” and that it’s weak to show vulnerability — particularly in a culture that seems to prize stoicism and self-reliance over emotional openness. 

But a growing number of folks are hoping to reverse this trend. One of the most well-known projects is Man Therapy, a first-of-its-kind interactive digital therapy platform from Denver ad agency Cactus. Now, Cactus is teaming up with MenAlive, The Good Men Project, and more to continue that initiative with Moonshot for Mankind, a NASA-style initiative urging individuals and companies to pledge to prioritize men’s mental health. → See more

Today’s newsletter is sponsored by our friends from:

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DEALS & DEBUTS

💰LISSUN, an India-based virtual mental health platform, secured $1.3M in a seed funding round led by Point Ventures (IPV) and Rainmatter Capital. → source

💊 Optimi Health, a psychedelic drug manufacturer, received approval to supply MDMA and psilocybin to Canada’s Special Access Program (SAP) and secured CA$1M ($730K) in debt financing. → source, source

🔬 Clearmind Medicine, a psychedelic biotech company, entered into a Clinical Trial Agreement with Johns Hopkins University to evaluate its proprietary compound for treating alcohol use disorder.→ source

🤝 Koa Health, a workplace mental well-being app, has partnered with B2B telehealth provider SteadyMD to offer a comprehensive approach to mental health care across the continuum.→ source

🚲 Bicycle Health, a virtual opioid use disorder treatment provider, is partnering with supermarket chain Albertsons to make buprenorphine injections available to patients.→ source

🌐 ERPHealth, makers of behavioral health outcome tracking technology, acquired Manifesto, a peer support and health coaching platform. → source

🏛️ The American Psychedelic Practitioners Association (APPA) is working with The Daschle Group, a governmental affairs counsel, to educate Congress and federal agencies about psychedelic-assisted therapy and shape the future of federal policy.→ source 

🎮 Invictus Games Foundation, a charity supporting international service personnel and veterans, renewed its partnership with BetterUp, a mental fitness and coaching company.→ source

WHAT I’M READING

• The fractal mind. Internal Family Systems (IFS), also known as “parts work”, was developed experientially in the 1980s and ’90s but has been making waves across psychotherapy as a powerful tool. Its core premise? The mind is non-unitary, and should be treated as such. → Mad in America

That’s all I’ve got for you today! This weekend, I’m wrapping up another catsit in Bernal Heights and getting out in the sun. September in SF is really quite lovely. Hope you’re taking care of yourselves out there.

‘Til next Sunday,

-Mel