Demonstrating the integrity of its supply chain from Jamaica into Canada, biotechnology company HAVN Life Sciences (OTCPK: HAVLF) achieved a milestone with international delivery - not an easy task. Moving controlled substances transnationally is fraught with regulatory and trade concerns.
HAVN does standardized extraction of psychoactive compounds from plants and fungi for the creation of active pharmaceutical ingredients (API).
The importation of its naturally derived psilocybin into Canada was completed after the extractor entered into a supply agreement with Nectar Health Sciences Laboratory Division Inc., a wholly-owned subsidiary of Psilobrain Therapeutics Inc. based in Victoria, British Columbia, which holds a Controlled Substance Dealer's License issued by Health Canada to handle and transport its psychedelic compounds.
The agreement with Nectar Health Sciences paves the way for HAVN Life's streamlined exportation of naturally derived psilocybin from Jamaica, validating the company's supply chain business model of providing psilocybin for clinical use and research.
"This partnership is a huge win for us as we look to secure additional supply agreements with Canadian companies, now that the integrity of our supply chain from Jamaica has been demonstrated," says HAVN Life CEO, Tim Moore. "As the research and drug development work on psilocybin moves forward, HAVN Life continues to position itself as a supply chain leader, able to meet the demand for naturally derived psilocybin."
Working out efficient and reliable supply chain handoffs is a crucial achievement for any company handling and transporting psychedelic compounds, particularly when operating across national boundaries.
"We are pleased to be one of HAVN Life Sciences preferred supply partners," says Kevin Coft, CEO of Psilobrain Therapeutics Inc.
"Our Nectar Health Sciences Laboratory Division has been at the forefront of synthetic psychedelic research, and our supply agreement with HAVN Life Sciences compliments and initiates our next stage of comprehensive testing, analytics, extraction, and product development from psychedelic mushrooms cultivated and processed under stringent quality control protocols."
Additionally, the export validates HAVN Life Sciences’ supply chain business model of providing psilocybin for clinical use and research, adding to previously announced supply partnerships this year with Mycrodose Therapeutics, Mycotopia Therapies, Cube Psytech, Allied Health, ATMA Journey Centers, Revive Therapeutics and HealthTech Connex.
Photo by Maarten van den Heuvel on Unsplash