Life sciences company specializing on developing and licensing psychedelics compounds and conducting clinical trials on the medical benefits of psychedelic compounds Halucenex Life Sciences announced having received monumental license from Health Canada.
This Controlled Drugs and Substances Dealer’s license issued by Health Canada will enable Halucenex to go on with its planned phase 2 clinical trials on testing the efficacy of psilocybin in treatment of post-traumatic stress disorder.
This license will further allow Halucenex to possess, sell, and conduct research and development activities on approves psychedelics substances.
Halucenex is a wholly owned subsidiary of leading cannabis company which engages in developing cannabis and hem-derived therapeutic nutraceutical and lifestyle products for both people and animals Creso Pharma (ASX: CPH).
The founder and chief executive officer of Halucenex, Bill Fleming, says this license was has been issued after the regulator conducted meticulous due diligence on the company.
“To date, we’ve been focused on the lead-up to this milestone and have done a lot of essential preparatory work in anticipation of receipt of the dealer’s license. This will provide us with a significant competitive advantage as we progress our entry into the lucrative psychedelics drug space,” said the CEO.