A Review of Recent Moves Made by Psychedelic Companies

February 23, 2022 14:32:47

A lot has happened over the past weeks in the psychedelics industry. Below, we look at some of the moves companies in this burgeoning sector have made.

Last week, Core One Labs Inc. researchers at its Vocan Biotechnologies Inc. subsidiary had received positive results and would begin using its recombinant production system to produce API-Grade N-methyltryptamine, or NMT. NMT is also known as MMT, or monomethyl tryptamine, and is a DMT precursor that the company will be producing to expand its psychedelic product pipeline. The firm is currently using its proprietary recombinant production system to produce psilocybin.

In a recent announcement, Benzinga, a financial news and data firm, revealed that it was planning to host a psychedelic investor convention at the Fontainebleau Miami Beach in April of this year. The conference’s keynote speakers include Irwin Internationals CEO Klee Irwin and the chair of O’Shares Investment Advisers, Kevin O’Leary, who is also a host on the Shark Tank. Other panelists and speakers include experts, investors and industry leaders such as Dr. Joseph Tucker, the CEO of Enveric Biosciences, and Robert Barrow, the CEO of MindMed.

On Wednesday, Cybin Inc. (NYSE American: CYBN) (NEO: CYBN) also announced that the U.S. Patent and Trademark Office had awarded a patent for the biopharmaceutical company’s CYB004 compound. The compound is an investigational DMT compound that has shown potential effectiveness at lower doses while growing the duration of the drug’s effect. This, the company believes, provides a therapeutic profile that can reduce the common negative experiences linked to DMT. Cybin remains focused on developing an alternative treatment option for anxiety disorders, with plans to begin a pilot study for the compound in the third quarter of this year.

Irwin Naturals Inc. also announced that it had begun the execution of its ketamine clinic rollout strategy. The company’s objective is to become the biggest chain of psychedelic mental health clinics globally. CEO Klee Irwin stated that the company would be leveraging its status and brand equity to expand as society embraced the psychedelic mental health revolution.

In addition, Global Trac Solutions Inc. announced that its media platform’s views went over 650,000, with impressions exceeding the one million mark for the first time last month. The company attributed its success and steady growth in the psychedelic sector to the increase in interest in psychedelics globally, the use of industry experts and original content. David Flores, the company’s CEO, noted that the company was delighted to be a premier media hub for the psychedelic industry, which may be valued at more than $10 billion in the next five years, with companies such as Delic Holdings Corp. (CSE: DELC) (OTCQB: DELCF) looking to claim a sizeable share of that cake.

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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