Psyched Wellness (CSE: PSYC) has completed its toxicology assessment on that of Amanita Muscaria, the firms core focus when it comes to psychedelic and functional mushrooms. The assessment, which was conducted by contract research organization KGK Sciences, has reported positive results for the company with the key finding being that the mushroom should be classified as a “functional psychedelic mushroom.”

Originally engaged in April of this year, the assessment was conducted over a number of months as KGK analyzed the fungi. The assessment focused on both the mushroom as well as its extract, with the company intending to produce and distribute the latter.

The assessment for toxicology was completed in May, with the firm later then moving to conduct a GAP analysis on the extract as well as a path to market within both Canada and the USA to sell the extract as a health supplement. This work included the start of a pre-clinical study on the extract. Applications will soon be submitted upon the completion of the pre-clinical trial to the US FDA and Health Canada, where it will look to be classified as a new dietary ingredient and a natural health product, respectively.

Key findings from the assessment state that the fungi is consumed as a food across three continents globally while being anecdotally used to assist with inflammation, anxiety, restlessness, addiction, and brain fog with psychedelic effects being generated in larger doses. Amanita Muscaria has been mislabeled as being poisonous, which the toxicology report seeks to clarify that it is not in fact poisonous, and that the compound of concern, Muscarine, is not present in large enough quantities to cause any harm to humans. Finally, the psychoactive compounds present in the mushroom are that of Muscimol and Ibotenic Acid.

“The fact that it has been mislabeled presented us with the opportunity to be the only company we are aware of to study Amanita Muscaria for both the medicinal and psychoactive qualities. We have completed the work with our CRO partners and determined that we can safely and efficiently extract the psychoactive compound, Muscimol from Amanita Muscaria and we are very excited to continue our studies with the goal of developing new novel uses for Muscimol.”

Jeff Stevens, CEO of Psyched Wellness

Psyched Wellness last traded at $0.24 on the CSE.

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