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NEW YORK, Feb. 16, 2021 /PRNewswire/ -- Psychedelics have made some spectacular breakthroughs to gain legitimacy as mental healthcare products and to become an emerging health and wellness market of its own. As these products enter the regulated consumer market, however, it's important that they are reliably and accurately dosed to ensure user health and safety. Accurate dosing is difficult to achieve with botanicals, which is why forward-thinking psychedelics companies are developing new extracted products designed for the most accurate dosing possible. These innovative products include oral tablets, capsules, nasal gels, and more. Forward thinking companies like Pure Extracts (CSE: PULL) (OTCPK: PRXTF), Compass Pathways (NASDAQ: CMPS), Cybin Inc (NEO: CYBN) (OTCPK: CLXPF), AIkido Pharma Inc (NASDAQ: AIKI), and Numinus Wellness (TSXV: NUMI) (OTCPK: LKYSF) are advancing psychedelic medicine with research and development into the best ways to administer these revolutionary treatments.
Pure Extracts Developing State-of-the-Art Psychedelics Extracts
Pure Extracts (CSE:PULL) (OTC:PRXTF) is a Canadian company specializing in functional mushrooms and psychedelics with extensive extraction and production experience. The Company utilizes cutting-edge, sub and super-critical CO² and ethanol extraction technology to produce high-quality, high purity formulations on a commercial scale. As psychedelic health and wellness continues its development, Pure Extracts is set up to deliver solvent-free, white-label formulations to service contract sales.
Pure Extracts conducts its extraction at its state-of-the-art facility in Pemberton, British Columbia, located 30 kms north of famed Whistler Resort. The facility is built to EU-GMP specifications, allowing for certification so that the Company will be able to sell its products internationally. On December 16, Pure Extracts announced that the Company had begun to build-out the fourth unit in its facility. This unit is specifically designed for extraction of mushrooms and for research and development of psilocybin. Pure Extracts is currently preparing its application for a Health Canada Dealer's Licence under the Controlled Drugs and Substances Act, which will allow the company to produce, distribute, and sell psilocybin products.
On December 30, Pure Extracts announced the commencement of a new study on the formulation and manufacturing of psilocybin-based active treatments for oral tablets, capsules, and a nasal gel. Conducted at the Toronto Institute of Pharmaceutical Technology by Dr. Alexander MacGregor, the study will focus on formulating, manufacturing, and clinical bioavailability testing of rapid onset psilocybin dosage forms that could be used in future efficacy clinical trials by both Pure Extracts and its pharmaceutical customers.
"We are excited about the R&D progress we are going to make with TIPT over the next six to eight months while waiting to receive our Dealer's License from Health Canada," Pure Extracts CEO Ben Nikolaevsky said in the Company's release. "We will be well prepared for our move into the controlled substances world of psychedelics and will have advanced knowledge regarding psilocybin and its associated novel delivery mechanisms."
Biotech Space Develops Extracted Psychedelic Therapeutics
Compass Pathways (NASDAQ:CMPS) sent shockwaves through the psychedelics space last year when it became the first psychedelics company to list on a major US exchange with its listing on the NASDAQ. The company has continued its research and development into psychedelics, announcing on February 9 the expansion of its Discovery Center and research collaborations with three of the world's most eminent scientists in psychedelic research.
In the fight towards therapeutic breakthroughs for mental health disorders, Cybin Inc (NEO:CYBN) (OTC:CLXPF) has entered into a partnership with Kernel to utilize its Kernel Flow technology to quantify brain activity during psychedelic experiences. Cybin believes that this clinical work could help to fill in the gaps for targeting neurological disorders.
Diversified biotechnology company AIkido Pharma Inc (NASDAQ:AIKI) announced in January that the company had executed a patent license agreement for technology related to psilocybin for cancer treatment and treatment of cancer side-effects. AIkido has been focused on small-molecule anti-cancer therapeutics for decades and the company's CEO says that they believe psychedelics to be an expanding area of treatment.
On February 8, psychedelic-focused mental health and wellness company Numinus Wellness (TSXV:NUMI) (OTCPK:LKYSF) completed its acquisition of Montreal-based full-service well-being organization Mindspace Psychology Services Inc. The company describes Mindspace as "a leader and pioneer in psychedelic programming."
Psychedelics could be the future of health and wellness, and extracted products like those developed by Pure Extracts could be key to unlocking the safe and reliable therapeutic benefits of these products.
To learn more about Pure Extracts, please click here.
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