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Synthesis Institute collapse is a major setback for US psychedelic therapy

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Summary

Synthesis Institute, an Amsterdam-based psychedelic retreat and practitioner training provider, filed for bankruptcy in the Netherlands in 2021, leaving almost 300 students enrolled in their psilocybin facilitator training course in Oregon with an uncertain future. The company had secured $7.25 million in Series A funding in September 2021 and had intended to establish a psilocybin service center and facilitator training program. However, the expansion project did not come to fruition due to Jackson County’s zoning regulations. The ramifications of the collapse of Synthesis Institute could be destabilizing for the nascent commercial psychedelics community as a whole.

Q&As

What was Synthesis Institute's purpose?
Synthesis Institute's purpose was to bridge the gap between clinical and more wellness-oriented psychedelic therapies, which are used to help tackle depression and anxiety and has shown promise to help treat other mental health ailments.

What were the consequences of Synthesis Institute failing?
The consequences of Synthesis Institute failing could have a destabilizing impact on the nascent commercial psychedelics community as a whole.

What was the cost of Synthesis Institute's retreats?
The cost of Synthesis Institute's retreats was roughly $1,000 per day.

What challenges did Synthesis Institute face in North America?
Synthesis Institute faced bureaucratic roadblocks and a 2022 vote in Jackson County that could have prevented companies from establishing psilocybin centers in the jurisdiction in North America.

How did Synthesis Institute get funded?
Synthesis Institute got funded with $7.25 million in Series A funding in September 2021.

AI Comments

👍 Synthesis Institute's Psychedelic Practitioner Core Training program was one of the first approved by the state of Oregon, demonstrating the potential of psychedelic therapy to help treat mental health ailments.

👎 The collapse of Synthesis Institute is a major setback for US psychedelic therapy, with the potential to destabilize the nascent commercial psychedelics community as a whole.

AI Discussion

Me: It's about the recent collapse of the Synthesis Institute, a psychedelic retreat and practitioner training provider, which has left almost 300 students enrolled in its psilocybin facilitator training course in Oregon with an uncertain future. The article goes on to discuss the implications of the collapse on the commercial psychedelics community. It's a major setback.

Friend: Wow, that's really unfortunate. What are the implications?

Me: Well, the collapse of Synthesis Institute could have a destabilizing impact on the entire commercial psychedelics community. The company was one of the first to be approved by the state of Oregon for their Psychedelic Practitioner Core Training program, and it was due to take 13 months and had an upfront cost of just under $10,000. With the company now gone, it could lead to a lack of trust in other psychedelic providers and disrupt the trust that was built within the community. It could also lead to fewer people enrolling in psychedelic therapy programs and a decrease in investment in the field.

Action items

Research other psychedelic retreat and practitioner training providers to find an alternative option.
Reach out to local psychedelic therapy organizations to learn more about the field and potential opportunities.
Stay informed about the legal and regulatory landscape of psychedelics in the US to ensure compliance with any new laws or regulations.

Technical terms

Synthesis Institute: Amsterdam-based psychedelic retreat and practitioner training provider.
Psilocybin: A psychedelic compound found in certain mushrooms.
Steward-Ownership Organization: A type of company structure in which the company is owned by a group of people who are responsible for managing the company’s assets and operations.
Buckhorn Springs: A 124-acre property in Jackson County, Oregon.
Psychedelic Practitioner Core Training Program: A 13-month training program offered by Synthesis Institute with an upfront cost of just under $10,000.