Press Release: Lexston Announces a Memorandum of Understanding with United States Based Panacea Plant Sciences Inc. for Research and Development of Psychedelics and Cannabis

CANNANNEW REPORT

Vancouver, British Columbia – TheNewswire – January 10, 2022 – Lexston Life Sciences Corp. (the “Company” or “Lexston”) (CSE:LEXT) (CNSX:LEXT.CN) (OTC:LEXTF) is pleased to announce the signing of a Memorandum of Understanding (the “MOU”) between its wholly owned subsidiary Egret Bioscience Ltd. (“Egret”) and Panacea Plant Sciences Inc. (“Panacea”), a leading United States biotechnology company focused on developing new therapeutic, cultivation, extraction and isolation techniques for high value natural products such as psychedelic-containing lifeforms and cannabis. Under the terms of the MOU, Panacea and Egret intend to create joint ventures (“JV”) through which they plan to expand the supply chain, reduce the supply cost, and characterize the chemistry and pharmacology of a suite of psychedelic compounds using each team’s particular expertise.  The goal of the JVs will be to develop cell-based culture systems for the standardized production and formulation of novel psychedelic combinations.  In addition to assigning intellectual property to the JV, the parties will also assign four percent (4%) of its equity to environmental and indigenous groups associated with the lifeform or compound of interest. The teams recently launched an initial pilot study on allosteric modulators of the serotonin receptor 5HT2A in combination with DMT, 5-Meo-DMT, mescaline, LSD, and psilocin.  This work will identify the mechanisms for the entourage effect of psychedelic plant and fungi. “We are excited to continue our collaboration efforts with Panacea. This agreement is significant for Lexston as it allows us to expand on our expertise in the chemical and genetic analyses of natural products to classical psychedelics. Involving the indigenous groups is an important aspect to both companies as it encourages acceptance of our research and can potentially improve many lives.” States Dr. Philippe Henry, Chief Science Officer and Director of Lexston. The parties will also explore different botanical sources of naturally derived tryptamines to identify ideal candidates for traditional and cell culture-based production.  The research is expected…

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Source : Press Release: Lexston Announces a Memorandum of Understanding with United States Based Panacea Plant Sciences Inc. for Research and Development of Psychedelics and Cannabis

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