Core One Labs (COOL.C) announced that their wholly-owned subsidiary Vocan Biotechnologies are in the final stages of completing their provisional patent application for the protection of their proprietary biosynthetic psilocybin production system.

Vocan is one of the few companies operating a Health Canada Controlled Drugs and Substances Dealer’s lab, giving them a huge opportunity to legally produce and research psilocybin. Vocan partners with the University of British Columbia (UBC) through a collaborative research agreement. The partnership provides Vocan with access to world class research equipment which provides them with enhanced analysis of their psilocybin compound.

Vocan is one of the few companies operating a Health Canada Controlled Drugs and Substances Dealer’s lab, giving them a huge opportunity to legally produce and research psilocybin

Vocan also has a term sheet with Vocan Brazil for the licensing of their technology, which, because of Brazil’s permissive psychedelic laws, will allow their technology to be used for production and clinical trials.

Core One’s press release states that Vocan has made “great strides in further developing its biosynthetic psilocybin production method and has started collecting data to substantiate our drafted provisional patent” over the past four months.

Core One believes their method of synthetic psilocybin production will hold many advantages for clinics worldwide, and has significant cost reductions and efficacy enhancements.

“Core One Labs submitting its patent for its revolutionary biosynthetic psilocybin production system is imminent as we are just days away. This could position the Company as the leader in provision of pharmaceutical API grade psilocybin which could ultimately drive value for shareholders and stakeholders alike. We have assembled a world class team to promote and sell our biosynthesized psilocybin to other major companies that are working on therapeutic psychedelic solutions. With current prices of psilocybin being over $7000 USD per gram, we view this space as being highly profitable,” stated Joel Shacker CEO of Core One Labs.

As Shacker notes, current prices for biosynthesized psilocybin prices are very high, and that provides an opportunity to make a lot of money by providing a cheaper version of the compound.

Core One’s press release states that Vocan has made “great strides in further developing its biosynthetic psilocybin production method and has started collecting data to substantiate our drafted provisional patent” over the past four months.

As Taylor Gavinchuk has noted, researchers want synthetic psilocybin so that they can have better control over the dosing. Without control over their subject’s dosing, it is difficult for researchers to prove their findings with scientific certainty. Sure, if you’re just looking to have a good time with some friends, exact dosing isn’t too important, but if you want FDA approval, it’s necessary.

With such high prices for such an important part of psychedelic development, any company that can produce synthetic psilocybin at a reasonable price could make a lot of money.

Following the news, Core One’s share price is up 6 cents and is currently trading at $0.66. Today’s increase represents a 12% increase in their share price.

Full disclosure: Core One Labs is not currently an Equity Guru marketing client, although they used to be.

Written By:

Piers Eaton

Canadian, English, and American writer, interested in human behavior. Can usually be found on reading or on a walk. Passable musician and decent snowboarder.

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