$40m psychedelic medicine institute launches in Melbourne

A world-first global research institute that aims to develop new pharmaceutical-grade psychedelic medicine to treat mental health disorders is launching in Melbourne on Friday.

The Psychae Institute, a collaboration between researchers from leading world universities, plans to advance clinical studies of psychedelics, such as psilocybin, the active ingredient found in “magic mushrooms”; MDMA, also known as ecstasy; and DMT, an ingredient in South American psychoactive brew ayahuasca.

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