Havn Life Sciences Inc. (CSE : HAVN), a recently-formed psychedelics company, announced on Tuesday its debut on the Canadian Securities Exchange under the symbol HAVN.

The company is led by co-CEOs Susan Chapelle and Tim Moore, the former CEO of cannabis company Green Growth Brands Inc GGBXF.

The Race For Psychedelic Capital

The so-called “Psychedelic Renaissance” has promoted a new and exciting race for investor capital that fired its starting pistol in early 2020. Competitors in the “Mush Rush” are choosing different strategies to securing capital.

While a significant number of psychedelic companies are choosing to go public in Canada via reverse take-overs, at times after a few years of trajectory as private companies, a smaller number of companies, like Havn, have decided to enter the exchange through the front gates, via an IPO.

Havn announced its launch on the same day it filed for a preliminary prospectus, shooting straight for the public markets.

This was possible thanks to the support of high-profile figures like Vic Neufeld, former CEO of Aphria APHA, who serves as director of the board. The board also includes Canada’s former deputy prime minister Sheila Copps, pharma veteran Allan Oberman and professor of pharmacology David J. Mokler, Ph.D.

Havn’s Plans for the Future

Formed in June of 2020, Havn defines itself as a biotechnology company focused on “unlocking human potential using evidence-informed research, and developing standardized psychoactive compounds derived from plants and fungi.”

The company operates a research facility located in the South Campus at The University of British Columbia which is currently awaiting the approval of a research license from Health Canada. The company has stated it plans to receive approval for performing clinical trials in 2021.

Havn expects to tap into unregulated natural health markets with mushroom and plant-based products, as well as the future regulated psychedelics markets, by supplying psychedelic products for academic research.

“We are currently working on a variety of projects including product formulation of effective microdosing of novel psychoactive compounds as well as the development of a state-of-the-art mycology lab for extraction,” said Chapelle.

Photo by Lisette Verwoerd on Unsplash