Biotechnology company Havn Life Sciences (CNSX: HAVN) (OTC: HAVLF) has entered a medical psilocybin research and development deal with Jamaica based nutraceutical company Hypha Wellness Jamaica Psilocybin (HWJP).
This deal involves the two partners jointly researching and coming up with standardized powdered homogenizedpsilocybin mushroom active pharmaceutical ingredient (API) products.
This partnership will be compliant to all regulatory requirements and will observe all applicable regulations in producing the powdered API products.
Havn Life Sciences says it’s currently building a production plant in Jamaica, this plant will be used to produce psychedelic mushroom API. The biotech company says it’s still exploring additional scientific partnerships with Jamaica based entities.
Hypha Wellness has its headquarters in Kingston, Jamaica. The company mainly engages in cultivating, extracting and manufacturing nutraceuticals. Hypha will be capitalizing on this deal to optimize therapeutic, commercial psilocybin and other fungi potential in their local market and the international market as well.
Havn believes collaborating will Hypha is a well thought idea since the company has the local influence and understands the local market better.
“Growing regulated psilocybin mushrooms for medical research is a very complex process. Our Jamaican collaborations are expected to allow us to optimize and refine our processes faster than we could elsewhere. Most importantly, they’re expected to better facilitate Havn Life’s commitment to helping patients, specifically those participating in observational studies in Jamaica,” said Havn’s Chief Psychedelic Officer Dr. Ivan Casselman.