Psilocybin is a naturally occurring psychedelic compound found in a variety of fungi and mushrooms, which shows potential in many serious medical conditions, the company said.
The London and Australia-listed biopharma company said the permission gave it a chance to develop Psilocybin’s analytical methods, research its physical-chemical properties and develop pharmaceutical forms suitable for administration. It added that this permission placed it at the forefront of experimental, pharmaceutical research.
“Whilst we continue to focus on our core development pipeline of CimetrA and CannEpil, we look forward to working with other pharmaceutical partners to establish the properties of Psilocybin and demonstrate how it could be used to develop medicines to treat people with debilitating conditions,” Chief Executive Roby Zomer said.
Source: Market Watch
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