South African cannabis veteran Jody Aufrichtig has launched an international psychedelics venture, Psyence, which began trading on the Canadian Securities Exchange on 26 January 2021.
Psyence was listed after a reverse take-over of Mindhealth Biomed that was facilitated by Cardinal Capital Partners Inc. Shareholders in both companies accepted 100% a conversion of their shares into the Psyence Group (CSE: PSYG). The company’s listing statement out of Toronto, describes it as “a global platform for innovation leading the way in naturally derived psychedelic therapies and the development and commercialization of related technologies and products”.
Psyence’s co-founders: Highlands’ Jody Aufrichtig and Creso director Alan Friedman
Psyence says it is aiming to set the global standard for natural psychedelic and is pioneering the use of natural psilocybin for the long-term treatment of psychological trauma and its mental health consequences.
First harvest out of Lesotho going to R&D
Psyence, which has been granted a cilocybin license in Lesotho, has already harvested its first crop and is preparing to ramp up commercial production. It says it’s Lesotho facility has been designed and constructed to International Organization for Standardization (ISO) 14644-1 cleanroom specifications and engineering design principles. This design allows various parts of the process to comply with the Good Manufacturing Practice (“GMP”) Standards required for product safety and quality to meet the certification needs of The British Standards Institute (“BSI”). The facility is registered with the US Food and Drug Administration (“US-FDA”) and is equipped with validated and calibrated specialised equipment to ensure optimum growing conditions and efficient harvesting and packaging.
Psyence’s Lesotho psilocybin production facility
Aufrichtig says “The results of our first cultivation and harvest process have been overwhelmingly positive, proving that our equipment is performing to the highest standard; our staff are experienced and well trained; our harvest system is working optimally, and our standard operating procedures are efficient and robust.
“The first harvest is serving as an R&D batch. It is being used to inform product characterization as well as to test transport routes to global licensed research and medical customers in legal jurisdictions. Following the success of the first harvest, three more batches will be cultivated and harvested in order to validate all of the processes as our roadmap to attaining BSI certification. Cultivation of the second batch is already underway; the cultivation and harvesting process, from spore inoculation to vacuum packing and storing takes approximately 10 weeks to complete and can be done on a continual basis”.
Psyence’s psychedelic therapy commercial products to be launched this year
Psyence seeking an integrated approach to psychedelic therapies
Psyence’s global footprint operates across multiple legal jurisdictions, through the advanced provision of psychedelic therapy and experience, and with a product portfolio of market-leading functional mu-shr-oom brands.
- Psyence Therapeutics arm is its primary business, developing psilocybin-based formulations and therapies to help treat mental health disorders.
- Psyence Production is one of the first federally commercially licensed and scalable, comprehensive psilocybin mu-shr-oom cultivation and processing facilities.
- Psyence Experience will offer retreats in Jamaica and Southern Africa to help reconnect people to nature while nurturing the mind and body, and elevating consciousness.
- Psyence Function offers a range of health and wellness products that claim to add even more nourishment for the body and the mind.
Psyence Contact Information
Lisa-Marie Iannitelli, Investor Relations
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