Bright Minds (DRUG): The GW Pharmaceuticals of Psychedelics
Bright Minds Biosciences Inc (CNSX:DRUG, OTCMKTS:BMBIF) is a biotech company focused on developing novel transformative treatments for neuropsychiatry disorders, epilepsy and pain. Our viewers may be familiar with GW Pharmaceuticals PLC (formerly NASDAQ:GWPH), recently acquired by Jazz Pharmaceuticals PLC (NASDAQ:JAZZ), and its Epidiolex® (CBD) oral solution as a treatment for childhood-onset epilepsy. Bright Mind’s focus is on second-generation drug therapies to target specific receptors to become the GW Pharma of the psychedelic space.
“The psychedelic drugs that most people know: psilocybin, LSD, MDMA, while efficacious lack a lot of the drug characteristics necessary for them to be embraced by big pharma and doctors. What we’ve done is taken these compounds discovered in the 40s, 50s, and 60s and applied modern drug discovery technology to create superior compounds. Our team of chemists and biologists modify chemical structures to extenuate therapeutic aspects and tune out negative side effects.” – Bright Minds CEO Ian McDonald
Isolating and improving on primary psychedelic compounds to create new analogs can target specific illnesses more efficiently and makes them patentable. Bright Minds will be able to patent its therapy methods and the drugs themselves. This creates a lucrative opportunity when looking at the size of the addressable market.
The USA has 17 million patients suffering from depression. Patent-on drugs have an average cost of $20,000 per year. Simple mathematics dictates the size of the depression market alone is over $300 billion (with estimates that it could be double that). PTSD is estimated to be over a quarter of a billion market. Epilepsy is also a market predicted to be greater than $1 billion.
Watch the full interview to learn how Bright Minds is improving on existing psychedelic drugs, its big pharma partnerships, and its timeline to revenues.
01:16 – Bright Minds business overview
02:19 – Patient audience
04:22 – GW Pharma
05:28 – Isolating & improving compounds
06:50 – Big pharma interest in Bright Minds programs
10:53 – Timeline to revenue