A Canadian company based in Vancouver, Canada, is seeking permission from regulators to produce psychedelics such as LSD and MDMA at its British Columbia facility. Psychedelics have been seeing a resurgence in popularity in Canada, with the country’s national health policy agency moving to approve the restricted use of psychedelics for therapy early this year.
Opitmi Health Corporation, a company that develops natural mushroom formulations, has asked federal regulators to allow it to manufacture synthetic psychedelic drugs at its facility in British Columbia. The Vancouver-based company has requested a controlled substances dealers license that would allow it to synthesize psychedelic drugs such as LSD, mescaline, GHB (Gamma Hydroxybutyrate) and DMT (N, N-dimethyltryptamine).
Optimi Health currently produces functional psychedelic formulations at its Princeton, British Columbia, facilities. It operates under a vertically integrated structure that allows it to handle every aspect of the supply chain from cultivation and extraction to distribution. The company produces psychedelic and functional mushroom products at its two Princeton facilities.
The company is now looking to expand its product line and plans on using the analytical lab and modern cultivation facility in British Columbia to develop a range of synthetic psychedelics.
Increased research into the effectiveness of psychedelic drugs has spurred public demand, Optimi Health revealed. More specifically, Optimi Health mentioned ongoing phase III clinical trials on MDMA that were funded by the Multidisciplinary Association for Psychedelic Studies coupled with moves to decriminalize drugs in British Columbia as primary drivers of psychedelic demand.
A statement from the company revealed that Optimi Health has fielded an increasing amount of inquiries about synthetic psychedelic production from industry stakeholders. Health Chief science officer Justin Kirkland said that the company’s analytical labs will allow it to continue cultivating natural psilocybin while it manufactures synthetic psychedelics under EU-GMP standards to cater to the increased demand for psychedelics.
According to Optimi Health CEO Bill Ciprick, there is no company in North America that can match Optimi’s production capacity or its EU-GMP compliant operational footprint. Furthermore, he stated that it will most likely take new entrants into the psychedelics game millions of dollars and many years to reach Optimi’s efficiency and production capacity.
He said that the company was aware of its strategic position in the nascent psychedelics sector and how its request lines up with its priorities. Ciprick noted that Optimi Health filed the request after holding extensive discussions with drug developers and researchers and receiving a multitude of requests for synthetic psychedelics that meet EU good manufacturing practices (GMP) standards.
Canada is quickly establishing itself as a global leader in the psychedelics field, especially with several revenue-generating companies sech as Delic Holdings Corp. (CSE: DELC) (OTCQB: DELCF) having their roots in this country.
NOTE TO INVESTORS: The latest news and updates relating to Delic Holdings Corp. (CSE: DELC) (OTCQB: DELCF) are available in the company’s newsroom at https://ibn.fm/DELCF
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