The mushroom boom: NeonMind investigates psychedelic psilocybin’s potential for weight loss

12 Jan 2021 --- NeonMind Biosciences is exploring the use of psilocybin – a complex organic compound in psychedelic mushrooms – as a potential treatment to improve eating habits and aid weight loss.

This builds upon a growing body of unprecedented research that points to the compound’s efficacies in treating anxiety, depression and PTSD.

“Psylocybin causes neuroplasticity, which means it can remove our Pavlovian-like responses to environmental stimuli,” Penny White, CEO of NeonMind, tells NutritionInsight.

The psychedelic therapy specialist’s common shares have now commenced trading on the Canadian Securities Exchange under the ticker symbol “NEON.”

NeonMind completed its oversubscribed initial public offering at the end of last month, for gross proceeds of US$4.6 million.  

Lifting the stigma from medicinal mushrooms
“Psilocybin has the potential to serve as a new and different tool to help people lose weight and maintain their weight loss by changing neural pathways,” says White.

“Changed habits and cognitions can increase caloric expenditure and reset the behaviors and cognitions that link life stress and trauma to eating behavior.”

NeonMind completed its oversubscribed initial public offering at the end of last month for gross proceeds of US$4.6 million.

White asserts that if effective treatments for any illness include the administration of psychedelic compounds, then more steps should be taken to make these treatments known.

“This can be done through education and through the media. I believe that once people understand the therapeutic power of psychedelics then their old beliefs will fall away,” she maintains.

“Our public listing is a significant milestone for us as we execute on our plan to grow our intellectual property portfolio and product development pipeline.”

Preclinical trials for psilocybin-aided weight loss
Obesity is an epidemic that is responsible for 37 percent of the global burden of disease, according to the US National Center for Biotechnology Information.  

“Psilocybin is known to activate serotonin receptors. Serotonin can curb cravings, shut off appetite and reduce eating,” White explains.

NeonMind Mushroom Coffee. Further lifting the stigma surrounding “magic mushroom” aiding weight management, NeonMind launched a preclinical trial November 2020 with the backing of Health Canada. 

“We are currently conducting a preclinical trial at the University of British Columbia examining psilocybin as a treatment for weight loss. We are also designing a phase 2 human clinical trial which we hope will be application ready by the spring.”

Patented psychedelics and medicinal mushrooms
NeonMind has filed five US provisional patent applications claiming therapeutic value in weight loss; compulsive eating disorder; obesity or a complication of obesity; or the alteration of diet for better health.

“Psilocybin is now believed by many to treat mood disorders,” White highlights. “It causes neuroplasticity, which means it can remove our Pavlovian-like responses to environmental stimuli.”

NeonMind is also pursuing commercialization of its catalogue of proprietary medicinal mushroom product formulas. It recently launched a collection of four mushroom-infused coffees containing medicinal mushrooms such as lion’s mane, turkey tail, reishi and cordyceps.

The NeonMind e-commerce platform launched in November 2020 for direct-to-consumer sales of these products.

Mushroom ingredient positionings across NPD
According to Innova Market Insights, supplements launched with mushroom ingredients have had an average annual growth of 13 percent between 2015 and 2019. 

The top positioning for this category of ingredients is Immune Health, followed by Energy & Stamina and Digestive or Liver Health. However, with average annual growth of 71 and 37 percent, respectively, the fastest-growing positionings are mental acuity, and brain or mood health.

NPD in this space has been especially strong in recent months, with immunity at the top of mind for many consumers. Eric Puro, CEO of Kääpä Biotech, previously told NutritionInsight that the mycological specialist had seen a 400 percent increase in its sales during the COVID-19 pandemic.

By Benjamin Ferrer