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Texas plans to start a research program into a psychedelic drug called ibogaine. House Speaker Dustin Burrows and Lieutenant Governor Dan Patrick announced the 50-million-dollar program on Tuesday. They said the state couldn’t find a drug company to help develop ibogaine into a medication for FDA approval.
The legislature wanted companies to set up a corporate presence in Texas, match the state’s 50-million-dollar investment, and agree to give Texas 20 percent of revenue from sales of the drug. Ibogaine reportedly shows promising results in helping veterans deal with effects of traumatic brain injury.
