- Dedicated to the health-conscious consumer
- Expanded preclinical trial pipeline by entering into definitive agreement to acquire Tassili Life Sciences Corp
- Expanding brand into alternative medicine by entering into a definitive agreement to acquire Novoformulations
Champignon Brands Inc. (CSE: SHRM) (OTC: SHRMF) (FWB: 496), a Canada-based company dedicated to the distribution of artisanal medicinal mushroom-infused products, is expanding its portfolio with the health-conscious consumer in mind. SHRM recently entered into a definitive agreement to acquire two separate companies: Tassili Life Sciences Corp. and Novoformulations, a specialty biotechnology company.
SHRM recently announced it has expanded its preclinical trial pipeline by entering into a definitive agreement to acquire Tassili Life Sciences Corp. (http://cnw.fm/X41kl). Under the terms of the agreement, SHRM will acquire all of the issued and outstanding shares of Tassili, equaling 16 million common shares. Tassili has filed four provisional psilocybin patents, including one relating to its work with the University of Miami around the treatment of mild traumatic brain injury (mTBI) and post traumatic stress disorder (PTSD).
Tassili is already in a partnership with a multidisciplinary team of scientists and physicians at the University of Miami that is working on developing effective treatments of mTBI with PTSD and standalone PTSD. Under a collaborative research agreement that will eventually include human clinical trials, the university will study the combination of psilocybin and cannabidiol in treating these conditions. Tassil will retain exclusive rights to inventions, data and IP discovery resulting from the studies.
“Mild traumatic brain injury, especially concussion, is a significant cause of morbidity worldwide,” Dr. Michael Hoffer, the professor leading the study at the University of Miami, stated in a release. “What many do not realize is that TBI often occurs alongside PTSD. Up to 40% of people impacted by mTBI, a head injury causing a temporary change in mental status or consciousness, or TBI in general, also suffer from PTSD. This combination of mTBI and PTSD is even more common in U.S. military members and presents a vast patient population to service and potentially heal with our novel therapeutics under development.”
The goal is to shift the perception of psychedelics through the establishment of scientific underpinnings of psilocybin and cannabidiol’s medical benefits. The next step is to develop a prescription-based therapeutic medicine for mTBI with PTSD as well as a number of other disorders.
In addition to acquiring Tassili, SHRM has entered into a definitive agreement to acquire Novo Formulations Ltd. (http://cnw.fm/Uk6Qd). Novoformulations is a specialty biotechnology company focused on developing novel and innovative delivery systems for the pharmaceutical and nutraceutical industries. This acquisition will accelerate the architecture of SHRM’s patent portfolio. Under the terms of the agreement, SHRM will acquire all of the issued and outstanding shares of Novoformulations, for a total of 12.5 million common shares in the capital of the company.
Novoformulations, made up of PhD and technician-level scientists, is currently working with ketamine, anesthetics, adaptogenics, and other pharmaceutical and natural molecules. The company is actively formulating, developing and commercializing bioavailable delivery platforms.
“The existing infrastructure inherited from these recent acquisitions positions us as a leading participant throughout the entire alternative medicine life cycle,” SHRM CEO Gareth Birdsall stated in a news release. “The end result will be a turnkey solution that incorporates both standardized ingredient mixtures and pharmaceutical-grade products that can now be marketed via a variety of proprietary delivery systems. The addition of Novoformulations allows Champignon to deliver medications in a safer, more effective and more expeditious manner than our peers, from bench top in the laboratory, to preclinical and clinical trials. We are intent on the commercialization of products throughout North America, as rapidly as is safely and effectively practicable.”
Champignon seeks opportunities to promote the health and wellness benefits of functional mushrooms, which are used in a wide variety of health-care and pharmaceutical products. The company’s flagship e-commerce store, VitalitySuperTeas.com, takes advantage of the burgeoning craft mushroom industry with a selection of mushroom-infused teas and accessories; SHRM is also expanding its preclinical trial pipeline and branching out into alternative medicine and pharmaceuticals.
For more information, visit the company’s website at www.ChampignonBrands.com
NOTE TO INVESTORS: The latest news and updates relating to SHRM are available in the company’s newsroom at http://cnw.fm/SHRM
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