The medical industry in the United States will soon get another medicine namely Psilocybin on trial basis. Like Cannabis, Psilocybin is considered as a Schedule 1 medicine in the medical industry. Before psilocybin came into the fame, it was considered by the Federal Law that it has minimum medical use and high potential for abuse. However, the Food and Drug Administration has approved the component as medicine for depression recently.
The component namely psilocybin is currently available on a trial basis. Patients, who are suffering from treatment-resistant depression, might take psilocybin as their medicine. But, it will strictly be on trial basis as Federal law still considers it as no medical use.
As the history of psilocybin says, it is one of the components that humans used to take for medical purposes almost a thousand years back. The component is found in several types of Mushrooms. According to findings, Psilocybin was found in nearly 200 species of mushrooms in the world. It is similar to cannabis. Hence, the federal law is still not convinced to give a green signal to it.
Compass is one of the companies that had approval for trials from the FDA. Currently, Compass is in the 2nd phase of 3 consecutive trial phases. According to the latest report, only 33% of the 2nd phase has been finished. Remaining 67% is still going on. Usually, it takes minimum 5 months and a maximum of 2 years to complete the 2nd phase trial. The 1st phase trial has been completed and Compass passed it smoothly.
3rd phase of the trial will take another 4 years to be completed. The final phase takes the massive system with nearly 3000 volunteers. If Compass passes through 3 phases successfully, the next will be an application for the new drug in the market that is Psylocibin under Food and Drug Administration. If that application gets accepted, Compass can grow process and sell Psilocybin in the proper consumer market.
Before marketing the component, it must be proved that consuming psilocybin is safer as well as more effective than any medicines available in the market for treatment-resistant depression at this moment. If the company fails to prove that in any of the remaining trial phases, the medicine would possibly not come to market. Overall, the entire process will take at least 5 years of time. It can take as long as 10 years to come to the market, according to the reports.
Like cannabis, psilocybin has to face many struggles to come to the market and legalized by federal law as it also has the restriction on consumption for either medical or recreational purposes.