- Pure Extract Technologies pursues study into psilocybin active treatments
- Study to extend for 250-day period, targeting a number of milestones
- The study is set to be carried out at Toronto Institute of Pharmaceutical Technology, will be supervised by Pure Extracts’ scientific advisor, Dr. Alexander MacGregor
- Oregon recently voted to legalize psilocybin mushrooms for therapeutic use, a potential legislative movement which may soon be replicated in other jurisdictions
Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on the cannabis, hemp, and functional mushroom sectors, has provided investors with an update in regards to its ongoing study on the formulation and manufacturing of psilocybin-based active treatments through the provision of oral tablets and capsules, as well as a nasal gel which is set to be used as an investigational product (https://ibn.fm/p8GT0).
The study, which is being carried out according to Canadian Good Manufacturing Practice as well as Good Clinical Practice, is set to 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 carried out by both Pure Extracts and its pharmaceutical customers.
The Company has revealed that the research study, which will extend for a 250-day period, will pursue a number of milestones, including:
- Sourcing and procurement of medicinal ingredients, excipients & packaging materials
- Raw Material Testing
- Formulation and Manufacturing Process Development, Stability Testing
- Clinical Batch Manufacturing
- Quality Control Release Testing
- Shipping of Clinical Batches to CRO
The study is scheduled to be carried out at the Toronto Institute of Pharmaceutical Technology (“TIPT”) and is set to 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 ground-breaking therapeutic drugs for the treatment of cancer, management of diabetes, systemic infections and post-operative pain.
“We are excited about the R&D progress we are going to make with TIPT over the next 6 – 8 months while waiting to receive our Dealer’s License from Health Canada,” commented Pure Extracts’ CEO Ben Nikolaevsky regarding the study and tie-up with the TIPT. “We will be well prepared for our move into the controlled substances world of psychedelics and will have advanced knowledge regarding psilocybin and its associated novel delivery mechanisms.”
While psychedelics continue to be classified as a controlled substance in Canada, officials in the Canadian Government stated in November of 2020 – in response to an earlier petition tabled in Parliament – that there were still avenues whereby certain individuals could gain exemptions to legally consume them.
The group behind the petition, the Canadian Psychedelic Association (https://ibn.fm/fDyBC), said when the petition was originally read before Parliament in September that entheogenic medicines “could be the crucial missing piece in healing epidemic rates of depression, anxiety, PTSD, and drug addiction while empowering people to realize greater wholeness, purpose and connection.”
Nonetheless, the Canadian Government’s statement came only shortly after U.S. voters approved a measure to decriminalize the possession of plant-and fungi-based entheogenic substances, while voters in Oregon went further still – passing a reform initiative seeking to legalize psilocybin mushrooms for therapeutic use (https://ibn.fm/K3mqh).
Through its ongoing study delving into psilocybin based active treatments, Pure Extracts is now seeking to be at the very forefront of the product development curve should Canadian governmental authorities opt to legalize the use of psychedelics and psilocybin mushrooms in the coming future.
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://ibn.fm/PULL
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