- Nirvana Life Sciences Inc. (NIRV) updates investors on the licensing and development application for its Vancouver lab facility
- The company applied for a dealer’s license from Health Canada in July
- This license would permit various uses for 29 different controlled substances
- It uses psychedelics in novel formulations to create non-addictive solutions to manage pain and addiction
- Nirvana Life Sciences Inc. (NIRV) is up 10.00 per cent and is trading at $0.55 per share as of 2:57 p.m. ET
Nirvana Life Sciences (NIRV) has provided an update to investors regarding the licensing and development application for its Vancouver lab facility.
Last summer, the company applied for a dealer’s license from Health Canada. This license would permit research and development, manufacturing, import and export, and the sale to qualified investigators and other licensed dealers in Canada of 29 different controlled substances.
Michael McCune, VPO of Nirvana Life Sciences commented,
“The application for the 29 different controlled substances will support all the projects that Nirvana’s researchers have in the development pipeline… Our team’s focus on designing to the facility to the highest standard will ensure that our research and development projects meet the rigorous standards of Health Canada.”
The substances covered include novel compounds consisting of different tryptamines, phenethylamines, ergolines and aryl cyclohexylamines. As part of its review, Health Canada has requested further detail on the volumes of materials to be handled and produced within the facility.
To support this project, Nirvana Life Sciences engaged three leading firms with experience in this sector.
Nirvana believes that using naturally sourced psychedelics in novel formulations holds the promise of delivering non-addictive solutions that are effective in managing pain and addiction.
Nirvana Life Sciences Inc. (NIRV) is up 10.00 per cent and is trading at $0.55 per share as of 2:57 p.m. ET.