- Pure Extracts commences study into psilocybin-based active treatments
- Study set to be carried out at Toronto Institute of Pharmaceutical Technology, supervised by Pure Extracts’ scientific advisor, Dr. Alexander MacGregor
- Study will delve into carrying out conformity testing, stability testing for psilocybin products thereby commencing the R&D that will ultimately take place at Pure Extracts’ purpose-built research space at its facility in British Columbia
- Functional mushroom, psychedelic drug market forecast to grow to value of $6.85 billion by 2027
Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company, recently announced that it had commenced a study into the formulation and manufacturing of psilocybin-based active treatments, with oral tablets, capsules and nasal gels set to be used as investigational products. The study is set to be carried out at the Toronto Institute of Pharmaceutical Technology (“TIPT”) under the auspices of Dr Alexander MacGregor, a key scientific advisor to the Company (https://cnw.fm/PFk6m).
The study will focus on the formulation, manufacturing and clinical bioavailability testing of rapid onset psilocybin forms – with the latter set to be used in future efficacy clinical trials that could be carried out by both Pure Extracts or its pharmaceutical customers. The study, which will adhere to both Canadian Good Manufacturing Practice and Good Clinical Practice, will delve into conformity testing and stability testing for psilocybin products while also incorporating research into processes such as clinical batch manufacturing, packaging and labelling.
“Having the support of Dr. MacGregor and TIPT, one of Canada’s premiere pharmaceutical R&D companies, while waiting to receive our Dealer’s License from Health Canada is invaluable,” commented Pure Extracts’ CEO Ben Nikolaevsky. “We are very excited to be laying the groundwork for our move into the controlled substances world of psychedelics and to be furthering our knowledge-base in psilocybin and associated novel delivery mechanisms.”
The study will be overseen by Dr. Alexander MacGregor, a pharmaceutical science inventor and expert in the field of pharmaceutical technology and novel drug delivery systems. Dr. MacGregor has successfully applied for a wide variety of global patents in the field of medical treatments and pharmaceutical drug delivery technologies, with his various innovations resulting in groundbreaking therapeutic drugs for the treatment of cancer, management of diabetes, systemic infections and post-operative pain.
In conjunction with the study, Pure Extracts revealed that the Company had begun construction on a fourth unit within its 10,000 square foot facility, designed for research and development into psilocybin and functional mushrooms as a whole (https://cnw.fm/o9iEV).
Psilocybin-based drugs have begun to gain increased acceptance as alternative treatments for major depressive disorders (“MDDs”) in the United States, with the U.S. FDA granting its initial Breakthrough Therapy designation to COMPASS Pathway’s psilocybin-assisted therapy in late 2018 (https://cnw.fm/h7JBR). With the functional mushroom and psychedelic drug market projected to grow at a CAGR of 16.3% over the next eight years to $6.85 billion by 2027 (https://cnw.fm/GE5uh), Pure Extracts seems to be well on its way toward enjoying a leadership position within the field.
For more information, visit the company’s website at www.PureExtractsCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to PULL are available in the company’s newsroom at https://cnw.fm/PULL
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