Let’s talk for a moment about Measure 109.
The measure was a vote on whether or not to allow licensed service providers the ability to administer psilocybin producing mushroom and fungi products to adults patients, typically 21 years of age or older.
It was approved by Oregon voters on the third of November, 2020, and tasks the Oregon Health Authority with the creation of a licensing and regulation regime for the cultivation of mushrooms producing psilocybin, and also for the development of provisions for supervised psilocybin therapy. Effectively, measure 109 has created the first legal North American market for psilocybin therapies.
Field Trip Health (FTRP.C) has been anticipating this for awhile because they’re now in advanced stages of finding potential sites for their Field Trip Health centres to start treating people in Oregon with psilocybin based therapies.
Field Trip has been busy. Not only have they been looking around for suitable real estate for their mushroom therapy centres, they’ve been cultivating their own mushrooms since January—specifically 25 species and strains of psilocybin producing mushrooms at its research facility out of the University of West Indies (Mona) in Jamaica. They also intend to seek cultivation licenses in Oregon when regulations are established.
“Based on its geography and climate, Oregon is an ideal place for cultivation of psilocybin-producing mushrooms. But cultivation that meets all quality standards and analytical testing requirements is complex. Our current cultivation research, which is focused on developing safety methods for microbial contamination, pesticides, mycotoxins, heavy metals, and analyzing tryptamine content from all psychoactive species at all stages of growth, positions us well to establish effective cultivation operations in Oregon and, subject to the regulations that are established, to be able to offer a wide variety of products and therapies to the people in Oregon,” said Marshall Tyler, Field Trip’s director of research.
Studies performed by John Hopkins University, New York University and Imperial College in London have demonstrated that under the supervision of qualified professionals, psilocybin therapy can be effective in treating mental and emotional health conditions like depression, anxiety, end of life distress and addiction. Other studies have indicated that psychedelic therapies can have a positive effect on a person’s creativity, empathy, openness and in facilitating a positive regard for the environment and planet.
“From the earliest days at Field Trip, we built our business case on the belief that the psychedelic industry would develop on two parallel and complementary paths: one that would be purely medical for the treatment of diagnosed mental health conditions, and the other which would make psychedelic therapies available to a wider audience,” said Ronan Levy, executive chairman of Field Trip Health.
There’s going to be a two-year period wherein regulators iron out the details, including determining what qualifications are going to be required of therapists overseeing its use.
“The success of Measure 109 validates that belief, and positions us to be the clear leader in the emerging psychedelics industry. With Field Trip Health centers rolling out across North America delivering best-in-class psychedelic therapies, and our research on cultivation of psilocybe, we are extremely well-positioned to help Oregonians access best-in-class psilocybin therapies. And with our drug development work on FT-104, our novel psychedelic molecule, advancing ahead of schedule, we are also positioned to help extend the psychedelic renaissance to people around the world,” Levy said.
The passage of this law doesn’t put mushrooms on the same footing as cannabis legally. What it does is allow psilocybin to be stored and administered at licensed facilities only. There’s a second measure on the ballot for this year—predictably called Measure 110—which will decriminalize possession and small amounts of drugs, including mushrooms, if it passes.
Dr. Bronner’s soap company contributed financial support to the measure to the tune of more than $1 million, as well as a political committee that gave another $1.5 million.
—Joseph Morton
