Six molecules·50 trial records·5 deals·16 calls on the record
Drug companies are spending billions on psychedelic medicine, mostly in America.
We read the contracts and filings behind every deal to show what's been bought, what's been skipped, and what that leaves open in Europe.
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Six molecules will decide what Europe gets. We follow all of them, every week.
For the 21 million people in the EU living with depression.
The money
$8.2bn
Headline value of the five deals we track. Lilly, AbbVie, Otsuka. None of it European.
Where Europe stands
Twelve assets. Six molecules. Four with no European partner.
Every row from a filing or a registry. Stage is the highest with a European record; US progress is a note, never a position.
| Molecule | Asset | Holder | Stage in Europe | European partner | Bought | Source |
|---|---|---|---|---|---|---|
| Psilocybin | COMP360 | Compass Pathways | Phase 3 | None disclosed | · | 10-K · 25 Aug |
| Lysergide | DT120 | Definium Therapeutics | Phase 3 | None disclosed | · | 10-K · 15 Sep |
| Mebufotenin | BPL-003 | Lilly, via AtaiBeckley | Phase 2 | Lilly | $3.8bn · Sep 2026 | 8-K · 15 Sep |
| GH001 | GH Research | Phase 2 | None disclosed | · | 20-F · 25 Aug | |
| HLP003 | HLP003 | Helus Pharma | Phase 3 | None disclosed | · | AIF · 24 Aug |
| MDMA | Amsterdam UMC | Investigator-led | Phase 2 | n/a | · | CTIS · 8 Sep |
| Brenipatide | LY3537031 | Lilly | Phase 3 | Lilly | · | 10-Q · 15 Sep |
Issue 17·6 October 2026
Europe is in the trial Helus hasn't dated.
EMBRACE, the CYB003 Phase 3 recruiting in Greece, Ireland and Poland, moved its primary completion date to June 2027 on Monday. Eleven of its 79 listed sites have been withdrawn. The registry says what moved. It does not say why.
Read the issueThe call in this issue
On 31 March 2027 the primary completion date on NCT06793397 is still 7 June 2027.
Open · resolves 31 Mar 2027 · scored in the first April issue
Falsifier: any primary completion date later than 7 June 2027 on the record on 31 March 2027