First Movers in the Psychedelics Space Position Themselves as Industry Leaders

NEW YORK, February 25, 2021 / PRNewswire / – The emergence of psychedelics as a mental health solution and as a legitimate industry has been one of the most radical market developments we’ve seen in decades. The global market for psychedelics is not a fleeting trend, but is expected to grow at a healthy CAGR of 16.3% through 2027 $ 6.85 billion. This market is being driven by changing public attitudes and perceptions about psychedelics, accelerated research and understanding of medical care for these substances, and the urgent need for more effective mental health solutions. These are all trends that are likely to propel this market further in the years to come as companies like Pure Extracts Technologies Corp. (CSE: PULL) (OTCPK: PRXTF) (XFRA: A2QJAJ), Revive Therapeutics (CSE: RVV) (OTCPK: RVVTF), Mydecine Innovations Group Inc. (CSE: MYCO) (OTCPK: MYCOF), Aikido Pharma Inc. ( NASDAQ: AIKI) and Compass Pathways (NASDAQ: CMPS) are striving to become leaders in this emerging field.

Pure extracts are preparing for a dealer license with Psychedelic Drug Research

Canadian extraction company Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) is about to become a leader in pharmaceutical psychedelic innovation. The company is currently filing an application with Health Canada for a Controlled Drugs and Substances Act distributor license with plans to produce pharmaceutical-grade psilocybin extracts from the company’s fully expanded EU-GMP-compliant extraction laboratory north of Whistler, British Columbia. Pure Extracts’ state-of-the-art CO² and ethanol extraction technology is ideal for creating precisely dosed and reliable psilocybin products for use with psychedelic-assisted psychotherapy.

Once Pure Extracts is granted the Health Canada distributor license, the company will be able to manufacture, distribute and sell commercial psilocybin and psilocin products Canada. In the meantime, the company is working to advance research into psilocybin extracts for pharmaceutical use. On January 14thThe company set the schedule and milestones for a previously announced study to formulate and manufacture psilocybin-based active treatments for oral tablets, capsules, and a nasal gel. The study is being conducted at the Toronto Institute of Pharmaceutical Technology by Pure Extracts Scientific Advisor Dr. Alexander MacGregor and focus on the formulation, manufacture, and clinical bioavailability testing of fast-acting psilocybin dosage forms.

“We are excited about the R&D advances we will make with TIPT over the next 6 to 8 months as we wait to receive our reseller license from Health Canada,” said Pure Extracts, CEO Ben Nikolaevsky said in the company’s publication. “We will be well prepared for our entry into the world of controlled substances of psychedelics and will have advanced knowledge of psilocybin and its associated novel delivery mechanisms.”

Biotech companies are positioning themselves in the emerging market for psychedelics

As the psychedelics industry gains momentum, biotech and life science companies are rushing to position themselves in the emerging market. Revive Therapeutics (CSE: RVV) (OTCPK: RVVTF) was announced on February 17th that the company has entered into an asset purchase agreement to acquire the psilocybin-related intellectual property from PharmaTher Inc. The company says the acquisition will cement its position in the psychedelics industry with a leading psychedelic pharmaceutical platform and that the company will use this technology to advance its psilocybin program for the treatment of clinical needs in mental health, cancer and neurological disorders .

On too February 17thMydecine Innovations Group Inc. (CSE: MYCO) (OTC: MYCOF) announced that the company’s subsidiary, Mindleap Health, has a provisional patent for its technology platform in both the U.S. Patent and Trademark Office and the Canadian Intellectual Property Office registered. Mindleap Health is the world’s first telemedical application to support psychedelic medicine.

On 6th JanuaryBiotechnology development company Aikido Pharma Inc (NASDAQ: AIKI) announced that it has entered into a patent license agreement for psilocybin technologies for cancer treatment and treatment of cancer side effects. The announcement of Aikido is noteworthy for the psychedelics sector, as Aikido has been an established player in cancer treatment for decades and the company’s interest in psychedelics signals a momentum for these treatments in the broader biotech space. The company’s CEO says the company sees psychedelics as a growing area of ​​treatment.

Compass Pathways (NASDAQ: CMPS) was announced on February 9 that the company has expanded its Discovery Center through collaborations with laboratories at UC San Diego, the School of Medicine, and Wisconsin Medical School. The Compass Discovery Center is a research network dedicated to developing new, optimized psychedelic compounds to meet unmet medical needs. The company intends to expand its research network nationwide.

The psychedelics market is just getting started, and as the industry grows and matures, first movers like Pure Extracts could be formed to become leaders in a game-changing pharmaceutical space.

Click here to learn more about Pure Extracts.

DISCLAIMER: Microsmallcap.com (MSC) is the source of the article and content listed above. References to issuers other than the profiled issuer serve solely to identify industry participants and do not represent an approval of an issuer and do not represent a comparison with the profiled issuer. The FN Media Group (FNM) is a third-party provider and service provider for the distribution of news that disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any of the companies mentioned here. The comments, views and opinions expressed by MSC in this press release are solely those of MSC and are not shared by FNM and in no way reflect the views or opinions of FNM. The readers of this article and its content agree that they cannot and will not hold MSC and FNM responsible for any investment decisions made by their readers or subscribers. MSC and FNM and their respective affiliates are news dissemination and financial marketing solutions providers and are NOT registered broker-dealers / analysts / investment advisors, have no investment licenses, and are NOT allowed to sell, offer or sell any securities.

The article and the content of the featured company reflect the personal and subjective views of the author (MSC) and are subject to change at any time without notice. The information and content contained in the article come from sources that the author believes to be reliable. However, the author (MSC) has not independently verified or otherwise investigated all of this information. None of the authors, MSC, FNM, or their respective affiliates guarantee the accuracy or completeness of such information. This article and its contents are not intended as investment advice or a recommendation as to any particular safety or practice. Readers are urged to speak with their own investment advisor and review all filings of the profiled issuer with the Securities and Exchange Commission prior to making any investment decisions. You should understand the risks associated with investing in the securities of the featured issuer, including, but not limited to, the total loss of your investment. FNM was not compensated, but rather compensated, by any of the public companies named here for distributing this press release twenty-five hundred dollars by MSC, an unaffiliated third party that is distributing this version on behalf of Pure Extracts.

FNM DOES NOT HAVE ANY SHARES IN ANY COMPANIES THAT MENTIONED IN THIS PUBLICATION.

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made under the Safe Harbor provisions of the private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “May,” “future,” “plan,” or “planned”. , “will” or “should”, “expected”, “anticipated”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a variety of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements, including the risk that actual results may differ materially from those projected forward-looking statements vary due to various factors and other risks identified in a company’s annual report on Form 10-K or 10-KSB and in other filings by that company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements contained herein and should not place undue reliance on such statements. The forward-looking statements in this press release speak as of the date of this release and MSC and FNM assume no obligation to update these statements.

Media contact:

FN Media Group, LLC
[email protected]
+1(561)325-8757

SOURCE Microsmallcap.com

Comments are closed.