SILO - Psyched: Steve Cohen Goes Big On Cybin Fed Intervention On Psilocybin Ketamine Insurance And More | Benzinga
Billionaire Steve Cohen Buys 19M Shares Of Cybin Stock For Psychedelics R&D, Blake Mycoskie $100M Pledge
Billionaire hedge fund and NY Mets owner, Steve Cohen amped up his support for psychedelics R&D through a new investment of nearly $19 million in beneficially owned shares of Cybin Inc. (NYSE: CYBN).
The large acquisition puts Cybin in the limelight with credibility status in ongoing and future work - see Cybin’s recent acquisition announcement of DMT therapeutics developer Small Pharma (OTCMKTS: DMTTF). More HERE.
Congressional Bill Would Ban Federal Intervention Where Psilocybin Is Legal, KE's $42M Ibogaine Budget Plan, OR's Drug Decrim Law
Democrat Reps. Robert Garcia and Earl Blumenauer filed a new bill in Congress that would discourage federal law enforcement and general intervention in states and localities that legalize or decriminalize psilocybin mushrooms.
The Validating Independence for State Initiatives on Organic Natural Substances (VISIONS) Act calls for no federal funds to be used to "prevent any state or unit of local government from implementing such state’s or unit of local government’s own laws that authorize the use, distribution, sale, possession, research, or cultivation of psilocybin.” Read more HERE.
At the state level, Kentucky’s Opioid Abatement Advisory Commission (KYOAAC) held the second of two public hearings and general information sessions regarding its plan to allocate $42 million from state funds for ibogaine research to support the treatment of addictions and to help stem opioid overdoses. Read more HERE.
Meanwhile, two petitions are circulating in Oregon to overturn the 2020 voter-approved Measure 110 that decriminalized the simple possession of drugs. The group behind the move, the "Coalition to Fix and Improve Ballot Measure 110, includes Oregonians such as Nike (NYSE: NKE) co-founder Bill Knight and Columbia Sportswear CEO Tim Boyle. Read more HERE.
Healthcare Providers Can Offer Ketamine Treatment On Employee Insurance Plans
The reportedly first and only licensed provider of health benefit plans that include psychedelic-assisted therapies, third-party healthcare ...