Press Release: Psygen Receives Dealer’s Licence from Health Canada

CANNANNEW REPORT

January 17, 2022 News Psygen Receives Dealer’s Licence from Health Canada Calgary, Alberta–(Newsfile Corp. – January 17, 2022) – Psygen Industries Ltd. (together with its subsidiaries, “Psygen“) is pleased to announce that its wholly-owned subsidiary, Psygen Labs Inc., received a dealer’s licence issued by Health Canada on January 17, 2022 (the “Dealer’s Licence“). Upon completion of its facility in Calgary, Psygen will begin onsite manufacturing of synthetic psychedelics in accordance with Good Manufacturing Practices (“GMP“) for use in clinical and scientific research. Psygen is strongly positioned to manufacture at scale any psychedelic drug substance that the market demands. “Psygen’s dealer’s licence is a major milestone that opens the doors to commercial production of GMP psilocybin and other psychedelics at our facility. Our dealer’s licence issued following a perfect inspection, meaning we had zero observations from the inspector, which is indicative of the diligence and skill that Psygen brings to our work,” said Danny Motyka, CEO of Psygen. Psygen’s dealer’s licence authorizes Psygen to manufacture, sell, import, export and otherwise deal with the following controlled substances: lysergic acid diethylamide (“LSD“) 3,4-methylenedioxymethamphetamine (“MDMA“) psilocybin psilocin N,N-dimethyltryptamine (“DMT“) 4-bromo-2,5-dimethoxyphenethylamine (“2C-B“) mescaline In addition to focusing on the controlled substances listed above, Psygen manufactures high-potential unscheduled substances such as 5-methoxy-N,N-dimethyltryptamine (“5-MeO-DMT“), ibogaine and others. Psygen has over twenty supply agreements in place for psilocybin, DMT, ibogaine, 5-MeO-DMT, MDMA and LSD to be fulfilled globally from production at the Psygen facility. GMP psilocybin previously manufactured by Psygen personnel in collaboration with a licensed dealer using Psygen’s methods has already been used in clinical trials for development of therapeutic products. Psygen also provided Health Canada with consent to be identified on a public list as a licensed dealer able to provide GMP psilocybin for use in patients through Canada’s special access program (the “SAP“). On January…

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Source : Press Release: Psygen Receives Dealer’s Licence from Health Canada

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