XPhyto Adds Mescaline Production To Psychedelic Medicine Programs
Vancouver, Canada (February 10, 2021) – XPhyto Therapeutics Corp. (CSE:XPHY / OTC:XPHYF / FSE:4XT) (“XPhyto” or the “Company”) is pleased to announce that XPhyto Laboratories Inc., its wholly owned Alberta subsidiary, has added mescaline production to its psychedelic medicine programs. Further to the Company’s press release dated February 3, 2021, the capacity under contract with Applied Pharmaceutical Innovation will focus on the synthesis of pharmaceutical grade mescaline. Mescaline has been anecdotally recognized as a relatively safe psychedelic drug and has shown particular promise for the treatment of addiction and depression.]
“In addition to our European-based psilocybin biotechnology production, the Company has now expanded its portfolio of psychedelic compounds to include mescaline. Our goal is to develop industrial scale production processes for the wholesale market and for incorporation into XPhyto’s thin film drug delivery platforms,” commented Hugh Rogers, CEO & Director. “We see a significant market opportunity in the production of pharmaceutical mescaline and the standardization of dosage formulations with precise, predictable and efficient drug delivery for clinical study and therapeutic use.”
Mescaline (3,4,5-trimethoxyphenethylamine) is a naturally occurring psychedelic compound found in certain cacti, including peyote, San Pedro, and Peruvian torch, and is most commonly associated with traditional Native American religious rituals and ceremonies. Mescaline is a Schedule I drug in the United States; however, it is legal in certain religious ceremonies registered by the Native American Church and its use is expanding as a supplement to various types of meditation and psychedelic therapy.
In general, psychedelic compounds have emerged as a new class of drugs with the potential to improve the treatment of mental health related medical conditions such as depression, anxiety, addiction, and trauma-related stress disorder. The Company believes that the industrial-scale production of pharmaceutical grade psilocybin and mescaline will provide a strong foundation for its psychedelic medicine programs.
On November 3, 2020, the Company announced an agreement with a leading German university for the exclusive development of a proprietary biotechnology process for the industrial manufacture of pharmaceutical grade psilocybin.
The Company will provide further information and updates in due course.
Mr. Knox Henderson