Baltimore based and largest private non-profit provider of mental health, substance use, special education and disability services Sheppard Pratt is planning to open a new center that will be using psilocybin which is psychedelic compound to provide care for hard-to-cure illnesses.
The psilocybin will also be used for research purposes at a center within Sheppard Pratt’s new Institute for Advanced Diagnostics and Therapeutics in a study which will bring together a range of clinicians and treatments.
Recent studies including clinical trials have been proving that psilocybin is effective in treatment in treatment of resistant depression, post-traumatic stress disorder (PTSD) among other mood disorders. Psilocybin however remains illegal at the federal as it is still listed as a schedule 1 drug under the U.S. Controlled Substance Act.
The center will be named the Center of Excellence for Psilocybin Research and Treatment and it will be on Sheppard Pratt’s Towson campus. The center will continue with the collaboration between Sheppard Pratt and mental healthcare company COMPASS Pathways Plc. (NASDAQ: CMPS).
“Our ambition at COMPASS is to transform mental health care, which today is not good enough for far too many people. Working with the talented and committed team at Sheppard Pratt has already accelerated our combined research and efforts to develop evidence-based innovation for people who are suffering with mental health illness, and we are excited to do even more,” said the CEO of COMPASS Pathways, George Goldsmith.
The President and CEO of Sheppard Pratt, Dr. Harsh K. Trivedi, pointed out that other treatments like existing Electroconvulsive Therapy (ECT) and Transcranial Magnetic Stimulation (TMS) which are neurostimulation treatments targeting specific areas of the brain will also be used in the center.
“There is a tremendous need for mental health care in local communities, across the nation, and around the world. People are struggling to find their best path forward. The Institute offers innovative treatments and access to the most advanced psychopharmacology to help people find the right modality that will work best for them,” added Trivedi.