Core One Labs Inc. (OTCQB:CLABF) (CSE:COOL)(Frankfurt:LD6), (WKN:A3CSSU) announced that it is in discussions with several pharmaceutical laboratories and research organizations to supply them with active pharmaceutical ingredient psilocybin to meet their psychedelic research needs.
Scientific interest in psilocybin has grown exponentially in recent years, with many high profile clinical trials showing enormous potential for the psychedelic compound in treating various mental health and neurological disorders, such as anxiety, depression, obsessive-compulsive disorder, various addictions, as well as Alzheimer's and Parkinson's diseases, to name a few. Promising results from many of these trials, though still in early stages and requiring further study, have given rise to rapid growth of a psychedelic industry and the emergence of many public and private entities engaged in research with psychedelics intended for medical use.
The company has the potential to produce its own psychedelic compounds at a Good Manufacturing Practices facility, while, in collaboration with its partners, also manufactures and could supply its quality and cost-effective products to licensed clients in Canada.
By streamlining a psychedelic supply chain and structuring itself as a vertically integrated business, Core One could control the production process of its products and develop an uninterrupted revenue stream. Management regards a robust and reliable supply chain as a key component in establishing its business clientele and capturing a large share of the medicinal and clinical psychedelics' market.
"Engaging in talks with multiple companies to supply them with psychedelic compounds demonstrates how far the company has come since initial research and development stages to where it is now. Embarking on the sales aspect of our corporate strategy keeps us ahead of the pack when it comes to being a leading supplier of medicinal psychedelics. We believe that our ability to continue to execute on our goals demonstrates to shareholders and other pharmaceutical companies why Core One is positioned to disrupt the medical industry when it comes to mental health and addiction treatments," stated Joel Shacker, Core One Labs CEO.
Photo: Benzinga edit with photos by geralt, sergeitokmakov on Pixabay
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