Cannabis Practice Chair Jonathan Robbins was recently quoted in a New York Law Journal and Law.com article discussing the promise that law firms are seeing in psychedelic-based medicines as they move to market. Psychedelic-based medicine is not big business yet, but it is headed in that direction. As such, a small number of law firms that have already built a reputation in the booming cannabis field are getting in on the ground floor. Investors are also already comfortable with psychedelics in a way that took years with cannabis. Robbins said that five years ago it was hard to find private equity funds, REITs, and high-net-worth individuals—all key components of the firm’s investor base—willing to discuss investing in medical marijuana. Now, with psychedelics, there’s a recognition that with limited risk, there’s the prospect of substantial reward.
“They’re embracing the psychedelics work, and in a quicker manner than the world of cannabis, because of the lessons we’ve learned from the world of cannabis,” said Robbins, who is based in the firm’s Ft. Lauderdale office. “I anticipate that on the horizon, we’re going to be very, very busy.”