Cannabis Company Wins Therapeutic Psilocybin License In Oregon

Kaya Holdings Inc. (KAYS), a publicly traded and self-described “mind care company” that holds cannabis licenses in Oregon and Greece, announced this week that it has received a license to administer psilocybin products in Oregon.

Oregon is currently the only state with a program covering the therapeutic use of psilocybin, the naturally occurring psychedelic found in hallucinogenic mushrooms. The FDA has previously given certain formulations of psilocybin the “breakthrough therapy” designation as its studied for safety and efficacy as a depression treatment.

KAYS said in a press release that it’s planning to open its psychedelic treatment center, The Sacred Mushroom, within 30 days of receiving the license.

“The introduction of legal psilocybin treatments in Oregon marks the beginning of perhaps the most disruptive force in the mental health sector, transforming treatment protocol and redirecting resources,” KAYS CEO Craig Frank said in the press release.

“Our distinctive guest experience model, the environment offered by the size and design of the facility and the dedication of our staff are designed to make The Sacred Mushroom the premier choice for anyone turning to psychedelics for relief or transformation. For these reasons, I believe KAYS is well positioned to become a leader in the ‘delivery of care’ of psychedelics.” — Frank, in a statement

Guests at The Sacred Mushroom — located on the top floor of the historic Falcon Building in downtown Portland — will have multiple options for their supervised psychedelic experience, including comfortable furniture and spaces, optional private rooms, an indoor garden, activities including yoga, journaling, and listening stations, all driven by the company’s “room to roam” philosophy.

Oregon voters approved the therapeutic use of psilocybin in 2020 and the state issued the program’s first license last May.

A recent study by UK researchers found that psilocybin shows promise as an effective treatment for depression.