Psychedelics
Mental health and finding alternative ways to improve health and wellness are at the forefront for many people today. While people have turned to what Westernized medicine considers traditional pharmaceuticals, the psychedelics industry is quickly leading the charge as an alternative for mental health treatments.
Even with the psychedelics industry in its nascency, the opportunities that exist across the value chain are quickly being uncovered by early adopters in the sector. Whether you are producing psychedelics for clinical treatments, operating a clinical or treatment center, creating nutraceutical or wellness products, or developing medical tourism experiences, the path to commercial success will require you to navigate this emerging and highly regulated sector.
In the psychedelics sector, the potential for rewards comes with many considerations when venturing into unchartered territory. Your path to success in psychedelics includes high barriers to entry and complex legal and regulatory hurdles. MNP’s highly qualified professionals are well-versed in emerging sectors and can help you to navigate these challenges and find your path to success.
MNP can help the psychedelics sector:
- Conduct informative market research and prepare an effective business plan
- Prepare statements for seeking financing, meeting regulatory requirements, forming key partnerships, generating cash flow, minimizing taxes.
- Build profitability, expand the scope of your organization, and undergo significant transactions – such as going public or M&A
- Access the knowledge guidance crucial to successfully navigate the path forward.
Solutions for Your Success
The psychedelics sector is young, entrepreneurial and rapidly evolving – and brimming with potential. Learn how MNP can help guide you to sustainable growth and success.
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Conducting research and development activities in the psychedelics sector could qualify you for SR&ED credits. Learn more about SR&ED here.
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Going public can support your growth objectives by helping you access new markets, increase publicity and elevate your business’ image. Learn more about Going Public here.
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Glenn Fraser CPA, CA, MBA
Senior Vice President, Private Enterprise
Glenn is a member of MNP’s Private Enterprise team in Toronto. Glenn brings more than 25 years of experience to his role proactively serving privately held and owner-managed businesses in a variety of industries. In addition to assurance and tax compliance, he helps clients with business strategy, financing, tax strategy, and succession planning.
Prior to his current role, Glenn was the Vice President and National Leader of MNP’s Food and Beverage and Cannabis team. Glenn was also a member of the Firm’s Board of Directors from 2015 to 2022.
Glenn is an active community volunteer with a long history of board appointments with several charities, including Childhood Cancer Canada, where he served as board chair for more than a decade.
Glenn earned a Master of Business Administration (MBA) from York University. He is a Chartered Professional Accountant (CPA), qualifying as a Chartered Accountant (CA).