Minnesota based medical cannabis company producing pharmaceutical-grade cannabis extracts Goodness Growth Holdings Inc. (CSE: GDNS) (OTCQX: GDNSF) has announced that it will be launching a psychedelics medicine study division.

This division will be mandated with researching on the effects of naturally extracted psychedelics on multiple psychological disorders.

The company says this is a program it has been waiting to venture into however it was waiting for results from various studies like that conducted by Johns Hopekins University which established psilocybin is effective in treating depression, so at to make a final decision on the matter.

The company’s CEO, Dr. Kyle Kingsley, says as a company they were waiting for some kind of threshold evidence to be sure that this is a real opportunity and it would be real medicine for people.

It’s gone beyond that. It’s really sort of exceeded my expectations as far as the therapeutic potential of psychedelics,” said the CEO.

Dr. Kingsley says the company has no plans of producing psychedelics drugs in the near future however, the psychedelics division will focus on research activities and partnering with other companies in research at the moment.

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