Research into the therapeutic potential of psychedelic substances has garnered spectacular international attention. Most of this focuses on research in the Global North. In this article, we examine Brazil's scientific contribution to the psychedelic renaissance. Brazilian psychedelic science thrives thanks to a strong pharmaceutical innovation system and the legal status of ayahuasca, which has allowed it to develop a distinctive, globally relevant research paradigm. Unlike in many countries, this research program is mostly publicly funded through universities, showcasing Latin America's ability to produce competitive science despite oftentimes severe financial limitations. In part shaped by traditions of saúde coletiva, social medicine, psychiatric reform, and harm reduction activism, Brazilian psychedelic science has historically maintained close ties to local communities of knowledge, particularly the ayahuasca churches, some of which have partnered with clinical research laboratories. Drawing on ethnographic research with actors of the Brazilian psychedelic research community we argue that provincializing the psychedelic renaissance means challenging the patent-driven, neoliberal mindset that makes the idea of a shared, publicly funded psychedelic research commons seem impossible. We show that this ideal has nevertheless been quietly put into practice in places like Brazil, at least as long as its universities received adequate public funding.