“With both its North American GMP mescaline synthesis program and German-based psilocybin biotechnology production underway, the first stage of XPhyto’s psychedelic medicine program is progressing on schedule. As the manufacturing programs advance, we look forward to focusing our expertise on psychedelic drug formulation,” stated Hugh Rogers, CEO & Direction of Xphyto.
According to the Xphyto’s latest announcement, the Company’s mescaline program is proceeding on schedule, having completed lab set up, preliminary synthesis, modified synthesis, and initial batch production. It is worth noting that Xphyto’s GMP mescaline production program is carried out under contract by Applied Pharmaceutical Innovations (API), a not-for-profit institution at the University of Alberta. Shortly after announcing a contract with a leading German university for the production of psilocybin, XPhyto announced its contract with API for the production of additional psychedelics on February 3, 2021.
Mescaline is a naturally occurring psychedelic compound found in certain cacti, such as peyote. Even if you are not a seasoned drug expert, you have probably heard of peyote at some point. Peyote is widely recognized for its hallucinogenic effects, often accompanied by severe nausea and vomiting. Despite this, peyote is still widely used by Native Americans for religious and healing purposes. Peyote has also shown promise as a potential treatment for mental health related medical conditions like depression, anxiety, addiction, and trauma-related stress disorder.
A recent publication by ACS Pharmacology and Translational Science reported that the naturalistic use of mescaline was associated with self-reported psychiatric improvements and enduring positive life changes. Of the respondents reporting histories of depression, anxiety, post-traumatic stress disorder (PTSD) as well as alcohol and drug use disorder, between 68% and 86% reported subjective improvements following their most memorable mescaline experience.
“We see a significant market opportunity in the production of pharmaceutical grade psychedelics followed by the standardization of dosage formulations with precise, predictable and efficient drug delivery for clinical study and therapeutic use,” continued Mr. Rogers.
The industrial scale manufacturing of pharmaceutical grade psychedelic compounds, including mescaline and psilocybin, represents an important part of the Company’s psychedelic medicine program. This will enable XPhyto to create a foundation for its drug formulation and clinical validation work. Furthermore, development of standard operation procedures (SOP) for GMP certification of the synthesis process is also underway.
XPhyto’s share price opened at $2.10. The Company’s shares are up 1.90% and are currently trading at $2.25 as of 9:51AM ET. This indicates that there has been some change following the news.
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