The US arm of a prominent Japanese drugmaker has invested in a psychedelic drug discovery company in a rare endorsement by big pharma of the new and mostly illegal field of drugs.
The McQuade Center for Strategic Research and Development, a US segment of Tokyo-based Otsuka Pharmaceutical Co that identifies and and invests in early-stage drugs, will fund $5 million for the development of two psychedelic drug compounds from Toronto-based Mindset Pharma Inc, the companies said in a Wednesday statement.
The money will support early stage human trials of the two psychedelic compounds. Otsuka will get…
