Biotechnology company specializing in developing next generation biosynthetic psychoactive compounds to teat mental illnesses PsyBio Therapeutics Corp. (CVE: PSYB) (OTCPINK: PSYBF) announced having filed for provisional patent with the United States Patent and Trademark Office (UPTSO) for production of psilocybin.
The patent application is titled ‘Optimized Methods for the Production of Psilocybin and its Intermediaries or Side Products.’
Following this filing, the company now has four pending provisional patent and one non-provisional patent pending approval with the United States Patent and Trademark Office.
Chief Medical Officer of the company, Michael Spigarelli, says the company is exploring ways to build a platform revolving round bacterial-based synthesis of therapeutic tryptamines, a class of hallucinogens.
“By building upon PsyBio’s platform technology, we are in a unique position to leverage the value of naturally occurring tryptamines by utilizing their innate synergy to build potentially improved therapeutics,” said the CMO.