How This App Can Play a Role in the Psychedelics Industry

The frontier of psychedelics-based treatments is expanding as these substances continue to gain credibility in the eyes of the medical community.

More and more novel psychedelic medicine companies are pitching the potential of improved mental health treatments through the use of psychedelic compounds such as psilocybin.

Alongside these groundbreaking medical options, there’s been an uptick in devices and phone applications related to the psychedelics lifestyle.

For example, microdosing has gained popularity among tech workers, and now there’s an app for the practise, which involves consuming psychedelics in small doses as a way to improve day-to-day life.

The psychedelics apps available vary in scope and rigor, but one app in particular offers users the ability to interact one-on-one with experts who will guide them through psychedelics-based experiences.

Mindleap Health and the rise of psychedelics apps

Mindleap is an app where users can book video appointments with specialists and get help with their psychedelics journey. Appointments go for just under an hour, with prices set by the expert at hand. Users can also set wellness goals for their state of mind and lifestyle.

“You can use that information for yourself, you can choose to share it with your mental health specialists so then the actual therapy that you’re receiving is more data driven,” Nikolai Vassev, founder of Mindleap Health, told the Investing News Network (INN).

Vassev spoke at length about what he sees as the benefits of the entire psychedelics revolution and the role his company’s app can play within that shift.

He said that while the potential held within the most advanced clinical trials for psychedelic substances is staggering, their results and any changes they may bring will take time. What people can use now is guidance in the therapeutic use of the psychedelic substances they have available.

“Mindleap is an app for people that are curious about psychedelics, wanting to either microdose, prepare for an experience or integrate an experience into actual changes in their life,” Vassev said.

The tech executive told INN the inspiration for Mindleap came to him after visiting a psychedelics retreat in the Netherlands. His goal was for the app to reach 50,000 users by the end of 2020, alongside 100 specialists available for users.

Thanks to his background with a data analytics firm, Vassev put two and two together once he realized that the vast amount of interest in this lifestyle would then create vast amounts of data.

“I saw this kind of missing piece of lack of access to psychedelic integration specialists and psychedelic experts, and I wanted to build this platform for it,” he told INN.

More app potential to follow in the psychedelics space

While wellness apps and the connection between healthier lifestyles and everyday technologies are nothing new, the idea of marrying the use of psychedelics with tech options is in the early stages.

Earlier this year, psychedelics firm Mind Cure Health (CSE:MCUR,OTCQB:MCURF) launched its own digital solution for wellness optimization and support resources.

Dubbed iSTRYM, this app allows users to monitor their experiences with psychedelics and will eventually help feed into the treatment they receive, according to the firm.

Mind Cure confirmed the app will collect a variety of data points from its patient users after a therapy session has taken place, such as weather, location, mood and heart rate.

Mind Cure Chief Technology Officer Geoff Belair said the app will implement artificial intelligence to hone how the app works for users.

“One of the key differentiators in our proprietary tech piece is the implementation of artificial intelligence, working in the background, to taxonify the uncategorized daily inputs from patients into tangible assets that will then inform treatments,” Belair said in a statement.

The app will build out its database of information based on patients, clinicians and therapists.

Investor takeaway

The adoption of psychedelics and the recognition of their benefits appear to be driving the introduction of new technology to the psychedelics space.

While the potential of these apps remains to be seen, it’s clear that excitement for the entire psychedelics revolution is beginning to bleed over into different sectors.

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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.