Hannam & Partners issued an independent research report on Psyence identifying it as a first mover into the palliative care market supported by natural psilocybin production. It notes that whilst Psyence has already generated revenue through its functional mushroom joint venture (Psyence Function) and production facility vertical(Psyence Production), it attributes the lion’s share of Psyence’s value to their drug discovery programme and expects a 450% uplift in share price.