Psyched Wellness (CSE: PSYC) this morning announced that it has commenced its pre-clinical trials of amanita muscaria mushrooms as of this morning. The milestone was achieved by the company following the first batch of the mushroom extract being shipped to its contract research organization (CRO) partner.
In total, it is said that 108 grams of the extract was sent to the lab to begin the first phase of pre-clinical trials, with the study to be focused on determining the maximum tolerated dose of the extract. In layman terms, the company is looking to determine what dosage of the extract can be used before unacceptable side effects or overt toxicity are encountered with the extract. The announcement comes just one week after the company formally announced that its protocol for extracting the mushroom was a success.
The pre-clinical trials commenced by the company will essentially look to determine the safety, efficacy, and safe dosage levels of the amanita muscaria extract, which will enable the company to ultimately forge ahead with functional mushroom products based on the extract.
“This is a key step, as it is the foundation off which we can apply to the FDA for a New Dietary Ingredient (NDI) and Health Canada for a Natural Health Product Number (NHPN) for our Amanita Muscaria supplement. It will also provide the IP required to focus our team’s attention on studying other more clinical uses of Amanita Muscaria for mental and physical health issues.”
Jeff Stevens, CEO of Psyched Wellness
Jeff Stevens, the CEO of Psyched Wellness, recently joined us on our latest video series, SmallCapSteve LIVE!, wherein he laid out the value proposition for the amanita muscaria mushroom, and where the company intends to focus in the future. You can catch this discussion in the video below.
Psyched Wellness last traded at $0.275 on the CSE.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
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