Xphyto Therapeutics (XPHY.C) subsidiary Xphyto Laboratories added mescaline to its list of psychedelic medicine programs today, according to a press release.
Earlier this month the company brought Applied Pharmaceutical Innovation on and now they’re going to focus on synthesizing pharma-grade mescaline, which has been recognized as a drug of note in terms of its potential for treatment with addiction and depression.
“In addition to our European-based psilocybin biotechnology production, the company has now expanded its portfolio of psychedelic compounds to include mescaline. Our goal is to develop industrial-scale production processes for the wholesale market and for incorporation into Xphyto’s thin film drug delivery platforms. We see a significant market opportunity in the production of pharmaceutical mescaline and the standardization of dosage formulations with precise, predictable and efficient drug delivery for clinical study and therapeutic use,” said Hugh Rogers, chief executive officer and director.
Mescaline is a naturally occurring hallucinogen found in certain cacti, including peyote, San Pedro and Peruvian torch. It’s one of those drugs that have been used in Native American and First Nations ceremonies for thousands of years, but for the rest of us it’s a schedule 1 drug, at least for the time being as there’s been a push to have it regulated for medical uses.
Here’s a doctor making the case for mescaline and psychedelics.
Psychedelic compounds have arrived in the past year as a potential new class of drugs that offer therapists a new and novel approach to mental conditions like depression, anxiety, addiction and post-traumatic stress disorder. Xphtyo intends to ramp-up industrial scale production of psilocybin, the psychoactive chemical in magic mushrooms, as well as mescaline, to provide a deep foundation for its psychedelic medicine programs.
Shares have been flat (so far) on the news, and at present are trading at $2.78.
—Joseph Morton
Full disclosure: Xphyto Therapeutics is an equity.guru marketing client.
