Numinus Wellness Inc. (NASDAQ:LKYSF) has announced the completion of its first legal Psilocybe mushrooms extraction for R&D by a Canadian public company. This landmark moment comes following Numinus’ successful completion of cultivation and harvesting of its first legal Psilocybe mushrooms flush at its 7,000 sq. ft. analytics and research laboratory.
Numinus completes first Psilocybe mushroom extraction in Canada
Payton Nyquvest, the company’s CEO, Chairman, and Founder said that the completion of the first legal Psilocybe mushrooms extraction in Canada is a massive milestone for the company. This is a big step in the provision of safe natural products for evidence-based psilocybin-assisted psychotherapies. Nyquvest added that the company continues to a positive change vanguard in the industry and the announcement just demonstrates Numinus’ ability to deliver first.
The company has established itself in leading the analytical testing of psychedelic products as an R&D center and ancillary for psychedelic therapy studies. Armed with Health Canada licenses, the latest technologies to facilitate innovation and scientific expertise the company continues to lead in the field. Most of the revenue for high-throughput contract marijuana testing goes into funding psychedelic initiatives.
Numinus submitting the amendment for extract supply for clinical trials
Sharan Sidhu, the company’s General Manager, and Science Officer indicated that this is a huge milestone for the company in its research strategy after a successful harvest in October. Sidhu said that the goal of the company in the extraction process is optimizing Psilocybe mushrooms for psilocybin standardization as well as other multiple therapeutically important components to enhance extract efficacy. Numinus is also in the process of submitting amendments for extract supply for use in clinical studies and the Special Access Program which once approved will be a huge move in scaling psychedelic-assisted therapies delivery.
This announcement comes at the back of Numinus’ advocacy work which contributed to the groundbreaking announcement from Health Canada for its intention to revises the Special Access Program. This will allow access to psilocybin-assisted therapies just like other investigational treatments. Also, Numinus recently announced the acquisition of Mindspace Psychology Services Inc.