Biotechnology company specializing on developing and commercializing psychedelic therapeutic products for treating addiction and substance use disorder Entheon Biomedical Corp. (CSE: ENBI) (OTCQB: ENTBF) announced having successfully completed the acquisition of specialized genetics company with a direct-to-consumer platform, used in psychedelics and cannabis space to provide personal insights into a person’s response to hallucinogenic and psychoactive drugs Lobo Genetics Inc.
Entheon says it closed the amalgamation agreement on June 16, 2021, with Lobo and 13089363 Canada Inc. (Subco) which is wholly owned subsidiary of Enthoen. According to the agreement, Subco and Lobo amalgamated by way of a three-cornered amalgamation to merge ito one company under the name ‘Lobo Genetics Inc.’
“We are thrilled that the transaction with Lobo has successfully completed, and we very much look forward to working with the Lobo team toward our combined mission of researching a genetic-driven approach to developing personalized psychedelic-assisted psychotherapeutic (PAP) protocols to treat substance use disorders. With the acquisition of Lobo comes the addition of key staff members and enhanced expertise in the field of genetics. With increased capacity to screen patients, on a genetic basis, for underlying psychiatric disorders prior to undertaking PAP, Entheon is furthering its commitment toward safety and predictability in psychedelic therapies while aggregating data that can be used to determine which psychedelic molecules are best-suited for a particular patient,” said Entheon’s CEO, Timothy Ko.