- Psyence (PSYG) has exported purified pharmaceutical-grade psilocybin mushroom extract to its contract development & manufacturing organization partner in the U.K.
- The product was exported from Psyence’s production facility in Southern Africa
- The pharmaceutical psilocybin extract will be used to develop standardized pharmaceutical-grade psilocybin and psilocin extracts, formulated into a final product for regulatory approval internationally
- Psyence Group Inc. (PSYG) was up 20 per cent, trading at C$0.12 as of 11:45 am ET.
Psyence (PSYG) has exported purified pharmaceutical-grade psilocybin mushroom extract to its contract development & manufacturing organization partner in the U.K.
The product was exported from Psyence’s federally licensed ISO22000-certified production facility in Southern Africa. The production facility is licensed to cultivate, extract and export psilocybin mushrooms for the legal, global medical market and commercial medical research market. Psyence’s production system is designed for continuous harvesting, and an on-site laboratory was recently added to provide in-process analysis and extraction.
Psyence has partnered with a current good manufacturing practice-compliant full-lifecycle pharmaceutical services company that is a trusted partner to innovative biotech companies and leading pharmaceutical companies worldwide.
The pharmaceutical psilocybin extract will be used to develop standardized pharmaceutical-grade psilocybin and psilocin extracts, formulated into a final product for regulatory approval internationally.
Dr. Neil Maresky, Chief Executive Officer of Psyence, said the company will be one of the first to successfully export our pharmaceutical-grade psilocybin into the UK, having recently concluded exports to Portugal and Canada.
“The UK has the potential to be a leader in psychedelics research, and ensuring a supply of pharmaceutical grade psilocybin for future research and clinical trials in this market will be critical to achieving this.”
The company’s Chief Strategy Officer, Tony Budden, added that their on-site laboratory provides the ability to produce pharma-grade psilocybin mushroom and extract for the legal psilocybin research markets globally.
“The systems and processes we have fine-tuned ensure that we were able to meet the UK’s stringent import requirements for this product. By concluding another successful export, we believe we are on track to become a preferred global supply partner for research markets worldwide.”
Psyence Group Inc is a science-led psychedelic platform led by experts in neurology, neuroscience, and drug development. The company builds and operates federally licensed commercial psilocybin cultivation and production facilities. The team is also developing global partnerships for the supply of its pharmaceutical-grade psilocybin products for research, clinical trials, and drug development.
Psyence Group Inc. (PSYG) was up 20 per cent, trading at C$0.12 as of 11:45 am ET.