ORLANDO, Fla., March 09, 2021 (GLOBE NEWSWIRE) -- Last month we introduced our readership to XPhyto Therapeutics Corp. (XPHYF). At such time, we mentioned that the Company is also involved in psychedelics and that we would dive into that matter at a later date.
Today’s that date.
For the uninitiated, psychedelic companies have been enjoying increased interest in North American stock markets as research portends significant possible clinical use. Take a look at this article from Forbes.
Here’s a brief excerpt:
“Like cannabis, the psychedelics industry has been growing at a locomotive pace. A key reason is an intriguing trend within the mental health community: the evolving acceptance of psychedelic drugs for treating depression and other mental disorders.
XPhyto has a world view, having published a couple significant psychedelic benchmark releases in February 2021 alone.
Take a look:
XPhyto Announces Psychedelic Pharmaceutical Production Agreement
XPhyto Laboratories Inc, its wholly owned Alberta subsidiary, has signed an agreement with Applied Pharmaceutical Innovation ("Applied") for the synthesis of pharmaceutical grade psychedelic compounds and the parallel development of the standard operating procedures necessary to obtain regulatory approval for the respective commercial production process. The industrial-scale production of standardized active pharmaceutical ingredients is an important part of XPhyto's psychedelic pharmaceutical program as the Company anticipates a shortage of large-scale supply of certain approved and standardized pharmaceutical grade psychedelics.
XPhyto Adds Mescaline Production to Psychedelic Medicine Programs
XPhyto Therapeutics Corp. is pleased to announce that XPhyto Laboratories Inc., its wholly owned Alberta subsidiary, has added mescaline production to its psychedelic medicine programs. Further to the Company's press release dated February 3, 2021, the capacity under contract with Applied Pharmaceutical Innovation will focus on the synthesis of pharmaceutical grade mescaline. Mescaline has been anecdotally recognized as a relatively safe psychedelic drug and has shown particular promise for the treatment of addiction and depression.
FYI, this is in addition to the Company’s European-based psilocybin biotechnology production development.
It’s a considerable footprint in the psychedelic market, especially with the seminal legalization efforts in Oregon in late 2020.
About XPhyto Therapeutics Corp.
XPhyto Therapeutics Corp. is a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The Company has research and development operations in North America and Europe and is currently focused on regulatory approval and commercialization of medical products for European markets.
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