Investors such as Václav Štrupl (Miton), Václav Dejčmar (RSJ Group) and Ondřej Fryc (Reflex Capital) have for a long time been strategically supporting research and development in this field, including the financially demanding clinical trials. One of the panels at the international conference Novel Mental Health Treatments and Sustainability of Healthcare Systems: Czechia as a Leader of the EU? discussed investment and philanthropy in projects related to mental health. The panel participants talked about topics such as research support, legislative barriers as well as the need to destigmatize psychedelics in society.
Venture capital companies and philanthropists have invested billions of dollars in the mental health sector in recent years. Companies using psychedelics and psychedelic-assisted therapies are raising hundreds of millions of dollars. The promising progress of preclinical and clinical trials coupled with the expected approval of the regulatory framework in the US this year is attracting the attention of investors. According to Pitchbook, global venture capital activity reached its second best results this January, with 163 million USD invested in five projects. Over 50 companies focusing on psychedelics have gone public in the US, and their combined value is now over 2 billion USD.
Innovative therapy in Czechia has had the support of an established group of investors and philanthropists who have been strategically supporting research and clinical studies over the long term. Among them are Václav Štrupl, partner in Miton, Václav Dejčmar, the co-owner of RSJ group, and Ondřej Fryc, co-owner of Reflex Capital.
Miton Group partner Václav Štrupl said: “The trends in mental health of recent years, especially after Covid, are alarming. Psychedelics may therefore provide a good tool to help in this area.” He adds: “We would like to build a comprehensive ecosystem around psychedelics, which would include not only research and support for clinical trials but would also work towards destigmatisation and communication with regulators.”
Through Miton, Štrupl financially and organizationally supports the Czech psychedelic clinic Psyon – one of the first clinics in the EU to provide ketamine-assisted therapy.
“For me, supporting psychedelics and its related research is a long-term project, but it makes a lot of sense. I currently see legislation as the biggest obstacle,” said investor and philanthropist Ondřej Fryc.
“We can be the innovation hub of Europe, but we need a clear vision and legislation,” said Václav Dejčmar, adding: “I believe that psychedelics can be important for treatment, but I also believe that they can be crucial for the future of all humanity, because we are living longer thanks to science and research, and if we live to be a hundred years old, we are at risk of dementia. So we need to prolong the life of the body as well as the life of the soul.”
“PsychedelicsEUROPE is a regulatory platform that provides a bridge between the investor community, experts, and the government at both the EU and the national level. As demonstrated during the Czech Presidency of the EU, the Czech Republic can be the leader of Europe’s mental health agenda. It is vital that key investors are becoming interested in Brussels, since initiatives that are being prepared there have a major impact on future Europe’s regulatory framework on the medical use of psychedelics,” adds Viktor Chvátal, founder of PsychedelicsEUROPE.
On the global level, the US-Israeli venture capital company Negev Capital is also involved in investment activities in the PAT area. Negev Capital invests in startups and companies that are active in the research and development of psychedelics. Negev’s first fund invested 31 million USD into 27 companies, including Beckley Psytech, Filament Health and MindBio Therapeutics.
Hayim Raclaw, director of business development at Negev Capital said: “Psychedelics have been a big topic over the last five years, particularly in the US, and that’s very interesting to me from an investor’s perspective, and I see opportunity there.” He adds: “Europe is quite behind in research compared to the US, Canada, the UK or Australia. However, I do see positive trends and activity in Europe, particularly in the Netherlands and in the Czech Republic.”
The conference Novel Mental Health Treatments and Sustainability of Healthcare Systems: Czechia as a Leader of the EU? was organized by the Institute for Rational Addiction Policies, the Psychedelics Research Foundation and PsychedelicsEUROPE, connecting eminent scientist, experts, regulation authorities and legislators of the EU member states, representatives of the European Commission (EC), members of the European Parliament (EP) and representatives of Ukraine, who together discussed the future of mental health and options for helping in Ukraine’s reconstruction.
