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With the significant growth of cannabinoid IP in the past few years, eyes are now on the emerging psychedelics market as the next frontier for IP protection. Gretchen Temeles of Hiller and Timothy Schlidt of Palo Santo Ventures discuss the issues.
In the past few years there has been a burgeoning interest in the use of psychedelics for the treatment of unmet medical needs in mental health.
Globally, the psychedelics drugs market was estimated to be valued at roughly $5 billion in 2020 and is projected to grow to about $11 billion by 2027.
Accompanying the efforts to commercialise psychedelic technologies has been a steady increase in patent filings as companies and universities seek to protect their investment and maximise commercial opportunities. This article addresses patent issues related to psychedelics.
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Hiller, Palo Santo Ventures, fungi, psychedelics, IP protection, LSD, MDMA, USPTO, patents,