- Red Light Holland (CSE:TRIP) reveals it has successfully completed the comprehensive extraction protocol with PharmAla Biotech (CSE:MDMA)
- The achievement marks the successful extraction and creation of a high-quality concentrated psilocybin extract at PharmAla’s partner, Chiral Labs, facilities
- The process was able to remove materials used for extraction to ensure the product meets the requirements necessary for pharmaceutical ingredients
- Shares of Red Light Holland are down 8.33 per cent to C$0.055 as of 11:18 am ET , while shares of PharmAla Biotech are up 4.17 per cent to $0.125 as of 12:20 pm ET
Red Light Holland (CSE:TRIP) has revealed it has successfully completed the comprehensive extraction protocol with PharmAla Biotech (CSE:MDMA).
In a news release, the company stated the achievement marks the successful extraction and creation of a high-quality concentrated psilocybin extract at PharmAla’s partner, Chiral Labs, facilities.
Additionally, the process was able to remove materials used for extraction to ensure the product meets the requirements necessary for pharmaceutical ingredients.
“The completion of this full extraction report represents a pivotal milestone in our journey towards optimizing and scaling the production of high-quality, natural-source psilocybin Active Pharmaceutical Ingredients (API),” Todd Shapiro, CEO of Red Light Holland, said in a news release.
Red Light Holland and PharmAla first revealed in late May the entities had successfully completed the first phase of psilocybin extraction.
At the time, the truffles went through a rehydration process and initial testing was conducted at CCrest Laboratories in Montreal.
Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale of functional mushrooms and mushroom home grow kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands, in compliance with all applicable laws.
PharmAla Biotech Holdings is a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA.
Red Light Holland is focused on the production, growth and sale of functional mushrooms and mushroom home grows kits in North America and Europe, and a premium brand of psilocybin truffles to the legal, recreational market within the Netherlands.
Shares of Red Light Holland (CSE:TRIP) are down 8.33 per cent to C$0.055 as of 11:18 am ET
Shares of PharmAla Biotech Holdings Inc. (CSE:MDMA) are up 4.17 per cent to $0.125 as of 12:20 pm ET.
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Top image: Red Light Holland
