Pure Extracts (CSE: PULL) this morning announced that it has begun a study focused on that of psilocybin. More specifically, the study is focused on the formulation and manufacturing of active treatments for oral tablets, capsules and a nasal gel that are psilocybin based, which are to be used as investigational products.

The study is said to be conducted through the Toronto Institute of Pharmaceutical Technology, lead by key Pure’s key scientific advisor, Dr Alexander MacGregor. The study will look to develop rapid onset psilocybin dosage forms, with the study focused on formulating, manufacturing, and clinical bioavailability testing. The intent is that the resulting product can be used in future efficacy clinical trials by Pure and its clients.

Also included in the program is that of clinical batch manufacturing, packaging and labelling, conformity testing and stability testing. The resulting products are also to conform to both GMP and GCP standards.

Having the support of TIPT, one of Canada’s premiere pharmaceutical R&D companies, while waiting to receive our Dealer’s License from Health Canada is invaluable. We are very excited to be laying the groundwork for our move into the controlled substances world of psychedelics and to be furthering our knowledge-base in psilocybin and associated novel delivery mechanisms.

Ben Nikolaevsky, CEO of Pure Extracts

Pure Extracts last traded at $0.64 on the CSE.


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