Why Kevin O’Leary is betting on psychedelics

‘Mr. Wonderful’ tells WP why he’s investing in a psychedelic drug company after publicly trashing cannabis investment

Kevin O’Leary is backing a neuro-pharmaceutical company testing psychedelic-inspired medicines. As of this week the company, Mind Medicine (MindMed) Inc. is trading on the NEO Exchange.

O’Leary told WP why he’s backing MindMed, citing the potential of its drugs to address problems like depression, alcoholism, and opioid addiction, issues that haven’t seen medical innovations in almost three decades. He insisted that MindMed, as a pharmaceutical company aimed at producing FDA approved medicines, is totally unlike the cannabis industry, which he publicly avoided investing in. It’s an investment, he says, that may drop away to nothing, but it might pay off big.

By David Kitai, Wealth Professional
Read More Here: www.wealthprofessional.ca/news/industry-news/why-kevin-oleary-is-betting-on-psychedelics/327130