- XPhyto Therapeutics Corp., a life sciences technology accelerator, is looking for ways to turn promising psychedelics into therapeutic pharmaceutical drugs, and recently added mescaline to its study profile
- Mescaline is illegal under U.S. federal law, but some state-centric efforts to legalize or decriminalize the hallucinogenic have launched in a manner similar to the populace effort that produced a wave of cannabis product legalization
- Mescaline has historically defied predictable outcomes by researchers, but advocates cite it as a means of successfully treating some mental health and substance abuse disorders
- A number of psychedelics production stocks saw huge gains during the past year
Bioscience industry innovator XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) tapped into a ready market when it began the production and testing process for a rapid, point-of-care RT-PCR test system for COVID, but the Canada-based company raised eyebrows when it announced its Alberta subsidiary XPhyto Laboratories Inc., had added mescaline production to its psychedelic medicine development programs earlier this year (https://cnw.fm/FOI4O).
The small cap markets have seen the rise of several progressive psychedelics stocks over the past couple of years that further defined their sector as a potential growth area in 2020. Health Europa recently reported that Mind Medicine Inc saw its share price increase 864 percent last year, for example, and that Numinus Wellness increased 555 percent while Red Light Holland increased 300 percent, and that investors in several other psychedelic stocks saw their money double or triple during the year (https://cnw.fm/AbDBl).
The report stated that some advocates believe psychedelics have much greater potential to disrupt the antidepressant market than cannabis, which has thus far failed to arrest the growth of antidepressant sales despite expectations to the contrary.
Mescaline is listed in the United States’ federal drug registry as a hallucinogenic substance without legally recognized medicinal benefits that has a high risk of abuse, but the substance occurs naturally in some types of cactus and has been granted legal use under limited conditions pertaining to certain religious ceremonies registered by the Native American Church and in select research efforts.
And much like cannabis, which saw its star rise as state after state defied U.S. federal drug policy by approving varied uses of hemp and cannabis within their political boundaries, mescaline has begun attracting legislative attention. In California, state Sen. Scott Wiener introduced a bill this year that would decriminalize select hallucinogenics, including mescaline, in part because he said research from top medical universities indicates that such substances can have significant benefits for treating mental health and substance use disorders.
The bill passed the Senate Health Committee by a vote of 6-1 on April 14 and will now be reviewed by the Senate Appropriations Committee, according to a local CBS News affiliate report (https://cnw.fm/iPiUl).
Branded the world’s “first psychedelic” in a history about efforts to tame the drug for a variety of scientific and creative purposes (https://cnw.fm/UEcas), mescaline has defied efforts to make it useful even since a synthetic version was created. However, this in turn creates a breakthrough opportunity for companies like XPhyto if they are able to make mescaline outcomes more predictable for its users, some of whom have historically reported euphoria and artistic enlightenment while others have reported serious nausea, anxiety and “excruciating” pain, according to the history.
“We see a significant market opportunity in the production of pharmaceutical mescaline and the standardization of dosage formulations with precise, predictable and efficient drug delivery for clinical study and therapeutic use,” XPhyto CEO and Director Hugh Rogers stated in the company’s announcement. “Our goal is to develop industrial scale production processes for the wholesale market and for incorporation into XPhyto’s thin film drug delivery platforms.”
For more information, visit the company’s website at www.XPhyto.com.
NOTE TO INVESTORS: The latest news and updates relating to XPHYF are available in the company’s newsroom at https://cnw.fm/XPHY
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