Psychedelics have long been believed to have medicinal value, and now a growing body of research supports that theory. Johns Hopkins has published over 60 peer-reviewed studies on the topic, reflecting research into how psychedelics can impact behavior, cognition and brain function. The University of Texas even opened a new center to study how psychedelics can be used to treat depression, PTSD and anxiety. Research paved the way for the cannabis industry, and now psychedelics are not far behind.
In the US, Oregon became the first state to legalize psychedelics in 2020 with Measure 109 for medicinal administration, and now other states are following suit. US Rep. Alexandria Ocasio-Cortez also filed a measure to remove a 90s-era provision on psychedelics. While it was rejected, the vote has never been closer — a sign that we may see the federal government reducing its restrictions on psychedelics soon. Companies pursuing the field of psychedelic medical treatment now are poised for success as legal barriers are removed, either at the state or federal level.
Silo Wellness (CSE:SILO
, OTCQB:SILFF) is a psychedelic wellness company pursuing two parallel tracks to capitalize on the growing market fully. First, biotech research represents its long-term track, with the second track focusing on providing services in jurisdictions where legal barriers have been removed. The company, which was founded in Oregon by an Oregon lawyer, has previously launched Oregon’s first legal psychedelic retreats
via ketamine (also a U.S. legal first). Silo Wellness is pursuing treatment programs in Oregon under Ballot Measure 109 and has a proof-of-concept center in Jamaica. Combined, the company has a unique combination of business lines for both near-term and long-term revenue.
Oregon legalized psilocybin treatment in 2020 and Silo Wellness is the only public company with an established presence in the state. Public companies such as Field Trip and Cybin will not be able to participate directly in the U.S. market due to federal prohibition as that is not allowed by the NASDAQ and NYSE exchanges. In addition to being founded in Oregon, the company is pursuing creating wellness facilities within the state with Oregon legal protection. Additionally, the company presently offers Jamaican psilocybin and 5-Meo-DMT wellness retreats staffed by local experts, including Rastafari Indigenous leaders. The Jamaican retreats are paving the way for the company’s Oregon treatment facilities, creating near-term revenue opportunities and the people, processes, and procedures necessary to safely provide these services in a regulated market.
Silo Wellness recently acquired 100 percent of Dyscovry Science Ltd
, a Toronto-based biotechnology company focused on biosynthetic manufacturing of psilocybin and its derivatives targeting a physiological condition, irritable bowel syndrome. Dyscovry has the IP, facilities, and public collaboration to allow Silo to fully pursue the development of a pharmaceutical treatment platform. The acquisition allows Silo Wellness to further its goal of covering both tracks of the psychedelic industry under one roof: psychedelic healing now via jurisdiction-by-jurisdiction "adult use" and pharmaceutical biotech.
Silo Wellness founder Mike Arnold explained, “Psilocybin mushrooms changed my life. The first thing I thought of after my first dose was, ‘how can I get this treatment into the hands of people in need as quickly as possible?’ We can’t let this plant-based treatment get locked behind long trials and legal restrictions. Not psychedelic healing one day, but psychedelic healing right now.”
The company is led by an experienced team of scientists, researchers, and managers. Silo Wellness has all the right specialists in place to pursue its parallel track and achieve its ambitious goals of legal facilities and psilocybin-based pharmaceutical treatment.
- Silo Wellness is a psychedelic wellness company with a parallel track focusing on developing wellness facilities and a psilocybin- or derivative-based treatment.
- Silo Wellness is the only publicly traded company with an operational foothold in Oregon that replicates its proof of concept for psilocybin in Jamaica.
- The company’s Jamaican psychedelic wellness retreats provide a current revenue stream.
- An experienced team of managers and scientists lead the company towards its goals of widespread treatment with psilocybin-based treatments.
- Silo Wellness recently acquired 100 percent of Dyscovry Science Ltd., a Toronto-based biotechnology company focused on biosynthetic manufacturing of psilocybin and its derivatives targeting irritable bowel syndrome.
Psilocybin Metered-Dose Nasal Spray
Silo Wellness developed a patent-pending metered-dose nasal spray with a July 2019 priority date to provide accurate dosing with a faster uptake speed than digestion. Additionally, ingesting psilocybin can often cause discomfort in patients. Silo’s product circumvents this problem entirely with nasal administration.
- Patent Pending: Silo has pending patent applications in the US and Canada that cover multiple methods of delivery and various psychedelic compounds.
- Metered for Patient Safety: Just like other medications, accurate dosing is essential to treatment. The nasal spray’s metered dosing system creates a faster uptake speed and prevents accidental stacking of doses.
- Focus on Gut Health: Silo Wellness, in a pending collaboration with Dyscovry Science, focuses on Irritable Bowel Syndrome specifically and inflammation generally. The ongoing research is exploring the objectively measurable physiological medicinal effects of psilocybin rather than the hard-to-measure subjective psychological benefits.
Psychedelic Wellness Retreats
The company presently operates psychedelic wellness retreats in Jamaica, where it conducts legal psilocybin-assisted treatments. The retreat system’s policies, procedures and protocols are directly transferable to its planned Oregon facility. Silo Wellness is the only publicly traded company with a presence in Oregon, having been founded there by an Oregon lawyer in 2018.
- Custom Intake Process: Silo Wellness has created an intake process to ‘meet clients where they are, which is generally a culturally traditional background from rural areas or the Midwest or South rather than more of a “new age” clientele. Its intake process focuses on understanding the needs of each client and taking a scientific approach to treatment.
- Working with Experts in Jamaica: Psilocybin has a long history in Jamaica, and Silo Wellness is working with local Jamaicans and Rastafari Indigenous leaders to administer treatment and facilitate healing.
- Oregon Facility is First Legal Psychedelic Retreat in the US: Silo Wellness held the United States’ first legal, psychedelic wellness retreats in Oregon with ketamine in 2021. The planned Oregon psilocybin system will import its policies and procedures from its pilot program in Jamaica.
Mike Arnold - Founder, CEO, Oregon lawyer
Mike is an experienced Oregon trial attorney (complex criminal defense and commercial litigation) and the founder of Silo Wellness. He serves as the company’s president and chairman of the board of directors. He is responsible for Ontario Securities Commission and Canadian Securities Exchange compliance, investor relations, financing, and corporate development. In the last five years he has successfully raised over $12M for his startups.
He was actively involved in the cannabis sector in Oregon, having defended cannabis farmers in both federal and state courts. Additionally, Mike was involved in cannabis regulatory work, drafting cannabis license applications, and securing land use approval for cannabis facilities as state regulations permitted. He is also an experienced farmer, having raised livestock and poultry and operated a commercial cannabis outdoor farming operation.
Mike developed the concept for Silo’s metered-dose psilocybin nasal spray in 2018 together with his co-inventor. In Jamaica, he has extracted psychedelic compounds from raw biomass and developed and quality tested products there prior to founding psilocybin retreats there and ketamine-assisted psychotherapy retreats in Oregon.
Winfield Ding - Chief Financial Officer, CPA, CGA
Mr. Ding has been CFO and director for a number of public companies in Canada. He is a seasoned senior finance executive with over twenty years of finance and operations experience. A former audit manager and currently a self-practitioner, he worked in audit, taxation and advisory roles across a wide range of industries with a focus on public issuers financial reporting and business advisory. Mr. Ding received his MBA from the Chinese University of Hong Kong. Mr. Ding replaces Ryan Ptolemy as the Chief Financial Officer of the Company.
Michael Hartman - Director, Psilocybin Nasal
Michael Hartman is an accomplished pharmaceutical product developer, a scientist and a Director of Silo Wellness. His expertise on respiratory drug delivery and creating formulations for pressurized metered-dose inhalers and dry powder inhalers helped release Silo’s metered nasal spray. Michael earned five patents in the field of pharmaceutical aerosol formulations.
Dr. Parag Bhatt, Ph.D - Pharmacologist Science Advisor
Dr. Bhatt is a co-inventor of the Silo Wellness “magic mushroom” nasal spray. He obtained his doctorate in Pharmacology and Physiology at Saint Louis University with a focus on the neuromodulatory roles of serotonin (5-HT) and dopamine (DA) on a developing neural circuit in Drosophila melanogaster, the fruit fly. He has extensively studied how deviations in the development of neural circuitry contribute to the development of effective neurological disorders.
Dr. Simon Bababeygy - Director, M.D.
Dr. Simon R. Bababeygy is an ophthalmologist in Los Angeles, California. He is affiliated with different medical institutions including Loma Linda University Medical Center and VA Long Beach Healthcare System. Dr. Simon received his medical degree from Stanford University School of Medicine and has been practicing for 20 years.