'Moving Beyond the Counterculture of the '60s': Why Some Law Firms See Promise in Pyschedelics | The American Lawyer - The American Lawyer

What You Need to Know

• Fox Rothschild attorneys have written opinions persuading the SEC to allow ETFs in the space.
• Akerman is seeing burgeoning investment interest from its clients.
• In Oregon, legal sale of psilocybin is poised to begin next year.

Last Tuesday, a pharmaceutical company traded on the New York Stock Exchange announced a grant to Manhattan’s prestigious Lenox Hill Hospital to launch a new psychotherapy treatment clinic focused on serving marginalized and underserved communities.

If that all sounds a little anodyne, the story gets a little more interesting when one missing detail is filled in. The company, Cybin, is one of roughly a dozen public companies that specialize in developing psychedelic drugs like psilocybin and MDMA for therapeutic use. Psychedelic-based medicine isn’t big business yet, but it’s headed in that direction. And a small number of law firms that have already built a reputation advising clients in the booming cannabis field are getting in on the ground floor.

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source: https://www.law.com/americanlawyer/2021/11/29/moving-beyond-the-counterculture-of-the-60s-why-some-law-firms-see-promise-in-pyschedelics/

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