PurMinds(TM) NeuroPharma Awarded Synthetic Psilocybin API Import Permit from Health Canada to Develop GMP-Compliant Psychedelic Drug Product Formulations for Clinical Trial Supply
Retrieved on:
Wednesday, October 11, 2023
PurMinds™ Dealer's License authorizes the production, formulation and global supply of psychedelic compounds, and the Company's newly awarded Import Permit allows for the legal importation of synthetic psilocybin active pharmaceutical ingredient (API) from PurMinds™ US-based API supplier to its Ontario-based neurolab and production facility.
Key Points:
- PurMinds™ Dealer's License authorizes the production, formulation and global supply of psychedelic compounds, and the Company's newly awarded Import Permit allows for the legal importation of synthetic psilocybin active pharmaceutical ingredient (API) from PurMinds™ US-based API supplier to its Ontario-based neurolab and production facility.
- With MDMA therapy inching closer to receiving FDA approval, Alberta's regulation of psychedelic drugs for therapeutic use, and Australia's drug policy reform to reschedule MDMA and psilocybin, PurMinds™ anticipates a surge in the demand for investigatory psychedelic drug sales.
- "These pivotal legislative reforms present a large growth opportunity for the Company that should greatly accelerate the pathway to positive cash flow," said Robin Shugar, J.D., Chief Commercial Officer and General Counsel.
- "As one of the very few, licensed psychedelic mushroom cultivation and investigational drug product production facilities worldwide, and with a strong focus on safety, efficacy, and accessibility, PurMinds is ideally positioned to be at the forefront of clinical trial psychedelic drug product supply."