Credit: CRISTINA DAURA FOR BLOOMBERG BUSINESSWEEK

Magic mushrooms are making waves again as the FDA works with a London-based company in an attempt to heal depression through a psychedelic means of therapy.

Compass Pathways Ltd. is the startup hoping to get government approval in their mission to help people combat mental illnesses without the use of prescription drugs.

“Our goal is to develop psilocybin therapy—the preparation, the support for the actual dosing, the medicine, and the follow-up,” said Compass Pathways Ltd. CEO George Goldsmith. Goldsmith runs the company with his wife, Ekaterina “Katya” Malievskaia.

There are 216 patients participating in the trial and as of right now, it’s in Phase 2B. That’s the last step before the final stage before the FDA gives it the green light.

According to Bloomberg Businessweek, “Compass has made enough synthetic doses of the psychoactive ingredient in magic mushrooms to supply more than 30,000 patients. It’s raised $58 million in venture funding from powerful tech figures including Trump ally Peter Thiel, investor Christian Angermayer, and Bitcoin booster Michael Novogratz.”

The World Health Organization says that SSRIs and drugs that are used to treat clinical depression only have a 70 percent success rate. That means 90 million people are still left fending for another alternative. Goldsmith and Malievskaia say they want to do their part to help mind that gap.

The entire trial is expected to be completed in early 2021. Goldsmith and Malievskaia are hoping for an FDA approval within the next couple years thereafter.

Psylocibin is now decriminalized in multiple places around the country including Denver, Oakland and Chicago, but they still remain federally illegal.