Psyence Group Inc. (PSYG) has entered into a multi-year agreement with the Jamaican government’s Scientific Research Council.
The SRC is Jamaica’s principal public sector agency, charged with fostering scientific research and the commercialization of its results.
Projects implemented by the SRC have the potential to assist in the economic and social development of Jamaica.
SRC has expertise in various areas including product research and development, chemical and microbial testing, molecular characterization and diagnostics of strains, propagation method development, active ingredient quantification and mushroom cultivation.
The SRC’s Quality Management System is certified to ISO 9001 standard and its analytical and microbiological laboratories are accredited to ISO/IEC 17025.
The first collaborative initiative includes the development of nutraceuticals containing a range of psilocybin concentrations from micro-doses to hallucinogenic levels of dosing, as well as producing timed-release formulations.
According to Justin Grant, Ph.D., Psyence’s Chief Scientific Officer, “This collaboration sets the path forward for Psyence’s observational trials, to be followed by more rigorous clinical trials.”
“We are honoured to commence work with the SRC on the development and physicochemical characterization of these products to produce consistent and standardized psilocybin mushroom-derived dosage forms,” added Grant.
The second initiative places special focus on Jamaica’s indigenous mushroom species because Jamaica has long been celebrated as a biodiversity hot spot.
This partnership will work in the field to identify, collect, characterize and store local psychedelic and psychoactive mushrooms.
The third initiative includes protocols for optimization of spawn production of rare psychedelic mushroom species and methods of conservation of select germplasm for up to 3 years.
Dr. Ryan Francis, Acting Divisional Manager, Product, Research and Development Division of SRC, commented, “The scientific approach of Psyence is aligned with the SRC’s objectives to preserve Jamaica’s indigenous resources and to develop evidence-based, standardized products.”
The Psyence Group sets the global standard for natural psychedelics.
Psyence is the pioneer in natural psilocybin for the treatment of psychological trauma and its mental health consequences in the context of palliative care.
Psyence Group Inc. (PSYG) is unchanged, trading at C$0.30 per share.