Pure Extracts Technologies (CSE: PULL) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp and the rapidly emerging functional mushrooms sector, today announced that it is commencing a study on the formulation and manufacturing of psilocybin-based active treatments for oral tablets, capsules and a nasal gel that will be used as an investigational product. According to the update, the study with be conducted at the Toronto Institute of Pharmaceutical Technology (“TIPT”) by Dr. Alexander MacGregor, a key scientific advisor to Pure Extracts. The study will focus on formulating, manufacturing and clinical bioavailability testing of rapid onset psilocybin dosage forms that could be used in future efficacy clinical trials by Pure Extracts and its pharmaceutical customers. “Having the support of TIPT, one of Canada’s premiere pharmaceutical R&D companies, while waiting to receive our Dealer’s License from Health Canada is invaluable,” said Pure Extracts CEO Ben Nikolaevsky. “We are very excited to be laying the groundwork for our move into the controlled substances world of psychedelics and to be furthering our knowledge-base in psilocybin and associated novel delivery mechanisms.”
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About Pure Extracts Technologies Corp.
Pure Extracts features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP standards aiming towards export sales of products and formulations, including those currently restricted in Canada, into European jurisdictions where they are legally available. On Sept. 25, 2020, Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act and the company’s stock began trading on the Canadian Securities Exchange (“CSE”) on Nov. 5, 2020. For more information, visit the company’s website at www.PureExtractsCorp.com.
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