Psychedelic Businesses Association

What Psychedelic Businesses Association does

PsyCan (Psychedelic Businesses Association), legally incorporated as Psychedelics Businesses Association, is a not-for-profit trade association founded on May 27, 2022, and headquartered at 1 Adelaide Street East, Suite 801, Toronto, Ontario. It is the first national-level trade association for the legal psychedelic medicine and therapy sector anywhere in the world, representing Canada's researchers, medical practitioners, labs, clinics, drug developers, and suppliers operating in psychedelic medicine. The organization operates with a small team (1–10 employees) under Executive Director Liam Bedard, a board chaired at different points by Austin Miller (Bluestem) and Nicholas Kadysh (PharmAla Biotech), and additional officers drawn from member companies such as Cybin, Algernon Pharmaceuticals, Empower Psychedelics, and Shields Pharma.

The association's core services are advocacy, policy engagement, and member coordination rather than technology products. Operationally, PsyCan runs a Government Relations Working Group that coordinates shared industry positions, facilitates meetings with federal cabinet and parliament (Parliamentary Dialogue Week), and engages provincial legislators (Provincial Dialogue Days) on regulatory matters. It publishes policy outputs including the 2023 'Beyond the Special Access Program' White Paper proposing a standalone medical psychedelic access framework, and a formal Pre-Budget Consultation submission to the Department of Finance Canada recommending a Section 56 class exemption for qualified prescribers. Communications channels include a newsroom, press releases, an online advocacy campaign, email newsletter, and ongoing media engagement, with French-language site support.

PsyCan's business model is subscription-based membership dues. Member tiers include Psychedelic Medicine and Therapy members (enterprise companies such as Cybin, Filament Health, PharmAla Biotech, Psygen, SABI Mind, Bluestem, and others), Associate Members (insurance and service providers such as Gallagher and Hub International), Community Partners (TheraPsil, MAPS Canada, Psychedelic Association of Canada, Heroic Hearts Project), International Partners (PsyIndUK, PMC), and a Healthcare Practitioner Membership priced at $500 CAD annually with a quarterly payment option. Go-to-market is sales-led via direct outreach, industry events, and advocacy activities, with government relations serving as a key member-value lever.

Name

Psychedelic Businesses Association

Legal name

Psychedelics Businesses Association

Website

https://psychedelicscanada.org

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

PsyCan (Psychedelic Businesses Association) is a Toronto-based not-for-profit trade association founded in 2022 that represents Canada's legal psychedelic medicine and therapy companies, providing government relations, policy advocacy, and membership services to drug developers, manufacturers, clinics, and practitioners.

Ownership category

akta.pro rank

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations

Revenue model

1. Membership Dues: Primary revenue stream from annual membership dues. Healthcare practitioner membership is priced at $500 CAD per year with quarterly payment option available. Member companies pay membership fees to join the trade association representing Canada's legal psychedelic industry.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

PsyCan is a not-for-profit national trade association that provides advocacy, government relations, and membership services to legally-operating Canadian psychedelic medicine and therapy companies. Its core deliverables are coordinated policy engagement with Health Canada, federal cabinet, parliament, and provincial legislators, plus a membership program that connects researchers, drug developers, manufacturers, clinics, and licensed practitioners for industry coordination and communications amplification.

Product overview

PsyCan (Psychedelic Businesses Association) operates as a not-for-profit trade association offering a platform of advocacy, membership, and government relations services to the Canadian psychedelic medicine and therapy industry. The organization provides its members with a Government Relations Working Group for coordinated industry positions, Parliamentary Dialogue Week for federal engagement, and Provincial Dialogue Days for regional advocacy. PsyCan publishes policy documents including its White Paper on psychedelic access regulations and pre-budget consultation submissions. The association also offers a Healthcare Practitioner Membership tier for licensed professionals. These services collectively support member companies engaged in research, development, manufacturing, and clinic operations in the legal psychedelics sector.

Differentiator

Problem solved

Functional benefit

Products and services

• Industry Advocacy Services Government relations and policy advocacy services representing member companies' interests to federal and provincial policymakers, including regulatory reform recommendations for psychedelic medicine access.
• Membership Program Association membership representing researchers, medical practitioners, labs, clinics, drug developers, and suppliers producing and working with psychedelic medicine, offering networking, communications, and industry coordination services.
• Government Relations Working Group Coordination platform bringing members together to develop shared positions on industry issues, facilitate meetings with federal cabinet, parliament, and relevant government departments.
• Parliamentary Dialogue Week Annual lobbying initiative at the Canadian Parliament in Ottawa connecting members with decision makers from every political party on psychedelic medicine regulation.
• Provincial Dialogue Days Meetings with provincial legislators on regulatory matters affecting psychedelic medicine practice at the provincial level.

Quantifiable outcome

• 68% of Canadians support legal psilocybin-assisted psychotherapy (rising to 84% for terminal illness patients)
• +2 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

22 partnerships are on record, tiered core and minor.

• Psychedelic Industry UK (PsyIndUK)coreStrategic or Co-development Partner · 1 January 2025Tri-party international collaboration announced January 2025 between UK, Canadian, and US psychedelic industry leaders. First collaboration of its kind globally, uniting key organisations for international information sharing and transatlantic collaboration. Partners will convene regularly to explore latest developments in psychedelic medicines, therapies, and research.
• Psychedelic Medicine Coalition (PMC)coreStrategic or Co-development Partner · 1 January 2025Tri-party international collaboration with PMC, a Washington DC-based nonpartisan nonprofit advancing psychedelic medicine research and implementation through US federal and state advocacy. Partnership focuses on ethical standards, addressing bad actors, and fostering transparency across the global psychedelic industry.
• Algernon PharmaceuticalsminorOthersPsychedelic Medicine and Therapy member representing pharmaceutical research and development sector.
• BluestemminorOthersPsychedelic Medicine and Therapy member company, manufacturer of psychedelic APIs.
• Cubed BiotechminorOthersPsychedelic Medicine and Therapy member company focused on psychedelic biotechnology research.
• CybinminorOthersPsychedelic Medicine and Therapy member company developing proprietary DMT molecule CYB004.
• EntheotechminorOthersPsychedelic Medicine and Therapy member company operating ketamine clinics.
• Empower PsychedelicsminorOthersPsychedelic Medicine and Therapy member company providing psychedelic therapy services, preparing for clinical trials through Special Access Program.
• Filament HealthminorOthersPsychedelic Medicine and Therapy member company manufacturing natural psychedelic drugs, has psilocybin supply agreements with Centre for Addiction and Mental Health (CAMH).
• PharmAla BiotechminorOthersPsychedelic Medicine and Therapy member company manufacturing MDMA for clinical trials, cash-flow positive. CEO Nicholas Kadysh serves as PsyCan Board Chair.
• PsygenminorOthersPsychedelic Medicine and Therapy member company holding Dealer's Licence from Health Canada for psychedelic manufacturing.
• SABI MindminorOthersPsychedelic Medicine and Therapy member company operating psychedelic therapy clinics in Alberta.
• Shields PharmaminorOthersPsychedelic Medicine and Therapy member company providing pharmaceutical services.
• Gallagher (Insurance)minorOthersAssociate member providing insurance services to healthcare and life sciences sector.
• Hub InternationalminorOthersAssociate member, insurance brokerage providing services to psychedelic sector.
• spark*advocacyminorOthersAssociate member - advocacy organization supporting psychedelic industry.
• Enhanced Therapy InstituteminorOthersAssociate member - therapy training and certification institute.
• Flow State TherapyminorOthersAssociate member - psychedelic therapy services provider.
• Heroic Hearts ProjectminorOthersCommunity partner - organization supporting veterans with psychedelic therapy.
• MAPS CanadaminorOthersCommunity partner - Multidisciplinary Association for Psychedelic Studies Canada, advancing psychedelic research and therapy.
• Psychedelic Association of CanadaminorOthersCommunity partner - national psychedelic advocacy organization.
• TheraPsilminorOthersCommunity partner - psilocybin access and advocacy organization, involved in world's largest medical psilocybin access and data project.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Psychedelic Medicine Coalition (PMC): Washington DC-based nonpartisan nonprofit advancing psychedelic medicine through US federal and state advocacy. Closest geographic peer in trade association function — partnered with PsyCan in the January 2025 tri-party international collaboration.
• Psychedelic Industry UK (PsyIndUK): UK trade body for the psychedelic medicine industry, representing British drug developers, clinics, and researchers. Direct functional peer — partnered with PsyCan in the January 2025 transatlantic alliance and serves as the UK counterpart in industry coordination.
• TheraPsil: Canadian non-profit focused on medical psilocybin access and advocacy, involved in the world's largest medical psilocybin access and data project. Listed as a PsyCan community partner; functions as an adjacent advocacy organization with overlapping patient-access mission.
• MAPS Canada: Canadian chapter of the Multidisciplinary Association for Psychedelic Studies, advancing psychedelic research and therapy. Community partner of PsyCan with overlapping mission around MDMA-assisted therapy access and clinical research advocacy.
• Psychedelic Association of Canada: National Canadian psychedelic advocacy organization promoting awareness and policy reform. Listed as a PsyCan community partner; operates in adjacent advocacy space with overlapping stakeholder audiences.
• Heroic Hearts Project: Canadian organization supporting veterans with psychedelic therapy access. Community partner of PsyCan; comparable as a mission-driven nonprofit in the psychedelic access space with a defined beneficiary population.
• spark*advocacy: Canadian advocacy organization supporting psychedelic industry reform. Listed as a PsyCan associate member; comparable as a non-profit advocacy organization with overlapping policy reform mission in the Canadian psychedelic sector.

Broad incumbents

• Cannabis Council of Canada: National trade body representing Canadian licensed cannabis producers. Functions as the closest analogous trade association for a federally regulated controlled substance industry; comparable membership, advocacy, and government relations model in an adjacent category.
• Innovative Medicines Canada: National association representing Canada's innovative pharmaceutical industry. Comparable as a trade association structure engaging Health Canada and federal policymakers on behalf of members, though operating in the conventional pharma sector rather than psychedelics.
• BIOTECanada: National industry association representing Canada's biotechnology sector, including many PsyCan member companies (Cybin, Filament, PharmAla). Provides broader biotech policy advocacy where psychedelic-specific issues are a sub-vertical.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/psycan
• LinkedInlinkedin.com/company/psychedelicscanada

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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Frequently asked questions about Psychedelic Businesses Association