Could psychedelic medicine be the new cannabis?

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Say the word “psychedelic” and most people will immediately conjure up images of tie-dyed hippy types taking magic mushrooms. However, recent developments have indicated that new treatments derived from these mind-altering substances are garnering new attention from the investment community. On Thursday, Berlin-based biotech called ATAI Life Sciences secured around US$43mln (£36.8mln) in a funding round, valuing the firm at around US$240mln, making it the largest company in the space.

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