DEA to Increase Psilocybin, Cannabis Production for Research Purposes

The United States Drug Enforcement Administration (“DEA”) has proposed an increase in the manufacture of cannabis, cannabis extract, psilocin and psilocybin for clinical trial and research purposes. In its most recent notice, the DEA stated that its objective was to assist in the development of new federally approved therapies.

The DEA stated that it believes in supporting the regulated research of controlled substances classified under Schedule I of the Controlled Substances Act. The increase in the aggregate production quota reflects this support and will help meet the requirements for research needed for the production of new therapeutic medications.

This isn’t the first time the DEA has altered its production quotas for Schedule I substances. However, the language used now reflects a progressive attitude toward the therapeutic potential of cannabis and psychedelics, as more states legalize the substances and enact reforms.

This year, the DEA wants to produce roughly 4,400 pounds of cannabis, which is equal to 2,000 kg of cannabis. This is a 500 kg increase from its original quota for cannabis in 2021. The agency is also proposing that 500,000 grams of marijuana extract be manufactured. This amount is more than twice its initial quota for 2021.

Meeting this production goal for cannabis is bound to be easier now, given that the agency made a decision to end the monopoly on federally authorized marijuana manufacturing that the University of Mississippi had for at least five decades by authorizing additional growers for research.

The DEA has also significantly increased its production goals for psilocin and psilocybin, which are the main psychoactive components of magic mushrooms. Initially, the quota for psilocybin was set at 50 grams. This has been adjusted to 1,500 grams, which is roughly a 2,900% increase.

The original quota for psilocin was also 50 grams, with the DEA now proposing this amount be increased to 1000 grams.

Parties interested have been given 30 days to submit comment on the new production quotas for these substances after the notice is officially published.

This is great news for researchers as well as advocates, as it demonstrates a willingness from the DEA to recognize an evolving scientific field and encourage more research on the substances to be conducted, regardless of their classification under the Controlled Substances Act.

However, the higher limits may not be enough, considering the fact that these fungi and plants remain classified under the strictest drug category, despite existing research demonstrating their medical value for various conditions.

Luckily, plenty of companies such as Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) are conducting R&D focused on psychedelic substances. The positive results from their work may play a big role in changing perceptions towards psychedelics due to the medicinal value discovered in these substances.

NOTE TO INVESTORS: The latest news and updates relating to Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) available in the company’s newsroom at https://ibn.fm/TRYPF

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