Hill Dickinson advises Psych Capital on medical psychedelic sector’s first UK IPO

Hill Dickinson is pleased to have advised Psych Capital plc on the successful completion of its IPO on the AQSE Growth Market on 9 June 2022. The transaction marks the first UK listing of a company operating in the nascent medical psychedelic sector.    

The scientific study and research of medical psychedelic drugs is undergoing a renaissance. There are currently 50 clinical trials in operation globally. It is hoped that new pioneering therapies may help to alleviate a range of mental health conditions, including anxiety and PTSD. Psych Capital estimates that the current capital invested within the sector exceeds US$2 billion and the value of such businesses exceeds US$10 billion.  

Earlier this month, Hill Dickinson co-sponsored ‘The Psych Symposium’ an event hosted by Psych at the National Gallery in London, which brough together industry leading professionals, including Rick Doblin (MAPS), Amanda Feilding (Beckley Foundation), Professor David Nutt, Christian Angermayer (Atai Life Sciences) and Robert Barrow (MindMed) to help promote access to psychedelic healthcare in Europe.  

Psych currently operates a global resource for networking, intelligence and insights in the nascent medical psychedelic sector (with an audience of over 20,000 subscribers to its platform), and it holds an investment in Awakn, a Canadian NEO exchange listed research and clinical group operating within the UK and Europe.  

Speaking about the significance of the company’s admission to the stock market, Jack Delaney said: “The admission of Psych Capital to the AQSE market is notable not just for the team involved but because it paves the way for international and domestic businesses operating in the nascent field of psychedelic science and medicine to access capital markets in London.”

“We are delighted that the team at Psych recognised our experience in related markets such as medical cannabis and chose to instruct us as their legal adviser.”

The Hill Dickinson team was led by Jack Delaney (Legal Director) with the assistance of Matt Montgomery (Associate) and Oliver Hart (Paralegal).