Vicente LLP's Psychedelics & Emerging Therapies Update: July 2023
Jul 7, 2023
With Colorado’s Prop 122 (and SB23-290), MAPS' phase 3 trial completion, MDMA and Psilocybin legalization in Australia, and over 12,000 people attending a psychedelic conference—big things are happening in the psychedelics ecosystem! In this newsletter, we'll dive into some highlights. But first, let's talk about Psychedelic Science 2023.
Psychedelic Science 2023: What an Event!
Psychedelic Science 2023—the largest psychedelic gathering in history—recently came to Denver, and Vicente LLP was honored to sponsor the event and support the important work of MAPS.
This event marked a historic moment for the psychedelics movement and we're grateful that so many of our clients, colleagues and friends took the time to participate in the event and learn about the cutting-edge issues facing this growing eco-system.
If we didn't get a chance to connect or you have any questions for our psychedelics and emerging therapies team, don't hesitate to reach out. Contact us here.
Support the Cause!
Non-profit organizations Reason for Hope and the Veteran Mental Health Leadership Coalition (VMHLC) are leading a coordinated federal and state advocacy strategy to accelerate access to psychedelic "Breakthrough Therapies" for suicide prevention, specifically for the treatment of PTSD, treatment-resistant depression, and major depressive disorder. These organizations are supporting the BTA. One way you can support the cause is by donating to Reason for Hope or VMHLC.
Bipartisan Congressional Lawmakers File Numerous Marijuana And Psychedelics Amendments To Must-Pass Defense Bill
Bipartisan lawmakers want to use defense bill to reform drug policy. The bill would expand medical marijuana access for veterans, reschedule psychedelics, protect security clearances for marijuana users, and allow CBD use for servicemembers. Read this article to learn more.
FDA Releases First-Ever Draft Guidance For Psychedelics Research, Days After Congressional Lawmakers File Bill Asking For It
The FDA has released a draft guidance on the unique considerations that researchers should take into account when studying psychedelics. Read more about the guidance that provides scientists with a framework to carry out research that could lead to the development of psychedelic medicines.
State News & Insights
California
A California Assembly committee has approved a Senate-passed bill to legalize the possession and facilitated use of certain psychedelics. Click here to learn more about the path toward psychedelic decriminalization in California through bill SB-58.
Colorado
Governor Polis signed SB23-290, the Natural Medicine Health Act’s (NMHA) implementation bill, into law on May 23, 2023. The measure went into effect on July 1. This bill is the most comprehensive piece of legislation ever passed by a state government related to a state-authorized natural psychedelic medicine program. It builds upon the values of the NMHA with a renewed focus on indigenous voices, safety, and regulatory efficiency.
To learn more about SB23-290, read and download "The Ultimate Guide to SB23-290, Colorado's Natural Medicine Regulation and Legalization Bill," a full analysis of the bill from Vicente LLP and VS Strategies.
We are so proud of our team's work related to drafting, advocating, and implementing the NMHA and SB23-290. Through our work and that of many others, we have created in Colorado the most equitable and accessible state psychedelic model the country has ever seen. Stay tuned—there is more to come! If you are looking to participate in this new psychedelic ecosystem or understand these new laws, please contact us.
Join the Movement to Support Safe, Equitable Access to Psychedelic Medicines in Colorado
Healing Advocacy Fund Colorado (HAF) exists to support safe, equitable and effective implementation of the Natural Medicine Health Act, with the hope that Colorado can serve as a model for thoughtful and ethical reform. Grounded in values of safety, inclusivity, equity and responsibility, the organization intends to foster opportunities for community participation as this implementation journey unfolds.
- Sign up for HAF’s newsletter for news, updates, events and research around the implementation of the NMHA
- Interested in being a part of the Proposition 122 Implementation Coalition? Fill out this brief survey from HAF
Michigan
Psychedelic Policy Reform in Michigan: A Brief History
Michigan leads the Midwest in affording its communities local protection for psychedelic-based activities. This article gives a breakdown of notable moments in Michigan's psychedelic legislative history.
International News & Insights
Australia
Australia Becomes the First Country to Prescribe Psychedelics to Treat Depression and PTSD
Starting July 1, authorized psychiatrists will be able to prescribe MDMA for the treatment of post-traumatic stress disorder and psilocybin for treatment-resistant depression. Click here to read more about psychedelic medicines in Australia.
Miscellaneous News & Insights
Third Wave Podcast: The Case For Microdosing: Why Legalization Matters
What is microdosing and what does the path to legalizing responsible psychedelic use look like? Get the low-down from the Third Wave Podcast featuring Vicente founding partner and Microdosing Collective founding board member Joshua Kappel. Listen here!
Forming Psychedelic Companies: 10 Lessons from the Cannabis Industry
A new industry is emerging in the United States, and entrepreneurs in the psychedelics space must make critical decisions at the onset of new ventures regarding how to set up and structure their new businesses. Luckily, we have access to another industry with a complex legal framework and a patchwork of different state laws: cannabis. Read this article for 10 lessons learned from the cannabis industry to help psychedelic companies start smart.
Buying a Ketamine Clinic: Why, How, and Risks to Understand
With ketamine being the only approved psychedelic drug for medical use, ketamine clinics offer a unique opportunity for investors and entrepreneurs looking to enter the expanding market of innovative mental health therapies. In this article, we will explore the reasons behind the growing demand for ketamine clinics and the unique regulatory considerations involved in transactions involving these businesses.
Resources
To access Psychedelics & Emerging Therapies-related legislative summaries, regulatory updates, licensing information, informational webinars and events from Vicente LLP, simply bookmark this webpage
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