Energia Foundation and Tabula Rasa Ventures, two research and investment firms that introduced psychedelics to the Davos crowd in 2022, have been promoting psychedelic-assisted therapy to policymakers, sovereign wealth funds and clinicians in the UAE, according to a statement.

“There’s still a lot of important research that needs to be done, but I’m hopeful that these medicines can expand the arsenal of tools we have,” Nahida Nayaz Ahmed, Chief Medical Officer at SEHA Mental Health and Well-Being Services, a unit of the ADQ-backed PureHealth, said.

Mubadala is reportedly eyeing investments in biotech companies developing psychedelic medicines.