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Meet the Derivatives Mastermind Now Funding ’Shrooms Science



Photographer: Roger Cremers/Bloomberg

Welcome to the latest on the cannabis and psychedelics industries. It’s always fascinating to talk to the individuals driving political or social change — especially when they come from a finance background. This week I learned the story behind New York University’s high-profile study of psilocybin. 

Psilocybin’s dramatic success at treating alcohol addiction in a study published last week brought new hope to an age-old public health problem — and to the nascent psychedelics industry. But what are the actual prospects for commercializing so-called magic mushrooms?

At a press conference to announce the study’s results, researchers spoke of a drive to bring psilocybin to as many people as possible while avoiding any monopolies that could limit its reach. They announced that NYU Langone Health, the university’s medical center, and the Grossman School of Medicine, which ran the clinical trial, have filed for a provisional patent based on the study and licensed it to B. More Inc., a nonprofit company. B. More’s founder Carey Turnbull and his wife also gave grants to the study’s lead author, Michael Bogenschutz, according to the published study.