- Optimi Health (CSE:OPTI) announced a supply partnership with PsiloThai, a Thailand-based patient advocacy group
- This agreement marks a significant milestone as the company becomes the first psychedelics manufacturer to seek approval for its products to enter the Asian medical market for use in observational studies in patients with addiction and end-of-life distress
- Thailand’s Ministry of Public Health recently updated its regulations, allowing psilocybin for medical treatment, research and clinical trials
- Optimi Health Corp. stock opened trading at $0.34 per share
Optimi Health (CSE:OPTI) announced a supply partnership with PsiloThai, a Thailand-based patient advocacy group.
The microcap psychedelics manufacturer explained that this agreement marks a significant milestone as the company becomes the first psychedelics manufacturer to seek approval for its products to enter the Asian medical market for use in observational studies in patients with addiction and end-of-life distress.
“This partnership not only opens new avenues for research but also strengthens our commitment to advancing mental health treatments around the world,” Optimi’s CEO, Bill Ciprick, said in a news release. “We are honoured to be embarking on this first-of-its-kind journey in Thailand.”
“This collaboration with Optimi provides a unique opportunity to explore the therapeutic potential of psilocybin in treating complex conditions such as addiction and end-of-life distress,” PsiloThai founder Charlie Solares added. “We are optimistic about the positive outcomes these studies can yield. Partnering directly with a Health Canada licensed entity like Optimi allows us to leverage their expertise in cultivation, compliance, and GMP drug manufacturing to ensure the highest quality and standards for our patients.”
Thailand’s Ministry of Public Health recently updated its regulations, allowing psilocybin for medical treatment, research and clinical trials. The authorization for using the two Category 5 drugs was announced in a directive issued earlier this year. This directive, which pertains to psilocybin mushrooms and was signed by the Public Health Minister, came into effect in April.
The observational studies, aimed at assisting patients currently in hospital care, will be conducted in collaboration with government hospitals and Rajamangala University. Optimi will partner with PsiloThai to obtain the required import certificates to meet supply needs in the upcoming months. The studies will officially begin once formal approval is received from Thai Health Authorities.
Optimi has an existing supply agreement with Mind Medicine Australia, a patient advocacy organization that played a key role in persuading the Therapeutic Goods Administration to reclassify MDMA and psilocybin. Last month, Health Canada granted three export permits to Optimi, signifying its official entry into the Australian market.
Optimi Health is a Health Canada-licensed psychedelics pharmaceutical manufacturer focused on controlled substances such as botanical psilocybin and MDMA and functional mushrooms that focus on the health and wellness markets. The company is planning to launch its prescriber portal soon for Australian psychiatrists seeking more information about its drug candidates.
Optimi Health Corp. stock (CSE:OPTI) opened trading at $0.34 per share and has risen nearly 40 per cent since the beginning of the year.
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(Top photo: Optimi Health)
