Apparently, Xenon does this by acting as an antagonist of the N-methyl-D-aspartate (NMDA) receptor, a subtype of glutamate receptor, and also by enhancing the effect of ("potentiation of") gamma-aminobutyric acid (GABA). Other drugs that act along the NMDA pathway are Ketamine and Memantine (an Alzheimer's drug). And other drugs that act along the GABA pathway are Benzodiazepines (e.g., Diazepam, Lorazepam-- i.e,. Valium). And apparently Nitrous Oxide (N2O) uses both mechanisms as well.