Last night, Champignon Brands (CSE: SHRM) announced that they have signed a definitive agreement to acquire Tassili Life Sciences Corp. Tassili is currently working in partnership with the University of Miami to develop effective psilocybin-based treatments for post traumatic stress disorder as well as mild traumatic brain injuries.
The company is currently working with the University under a collaborative research agreement which will see Tassili conduct preclinical and clinical trials with the University. The objective of the study is to demonstrate the safety and efficacy of using cannabinoids and psilocybin in combination to treat both PTSD and mild traumatic brain injuries. The research conducted will also see Tassili retain exclusive rights to anything derived from the studies, including inventions, data, and IP.
Tassili also intends to demonstrate the clinical and physiological effectiveness in PTSD and OCD are enhanced by measured dosages of the two chemicals in combination. The end goal is for the company to find an effective combination of both psilocybin and CBD to commercialize the drug for the use against the diseases.
The company currently holds four provisional patents, one of which is a result of the ongoing collaboration with the University of Miami. Meanwhile, three others relate to the novel delivery systems that best suit recovery solutions for specific indications. Specifically, the patents relate to the following.
- U.S. Provisional Application entitled “Controlled Release Formulations of Psilocybe-derived Agents and Methods for Their Use” Serial No. 62/915,092 Filing Date: October 15, 2019
- U.S. Provisional Application entitled “Controlled Release Formulations of Psilocybe-derived Agents in Combination with Cannabis-derived Agents and Methods for Their Use” Serial No. 62/880,269 Filing Date: July 30, 2019
- U.S. Provisional Application entitled “Controlled Release Formulations of Multiple Active Pharmaceutical Agents” Serial No. 62/880,271 Filing Date: July 30, 2019
- U.S. Provisional Application entitled “Methods And Compositions For Treating Mild Traumatic Brain Injury With Post Traumatic Stress Disorder” Serial No. 62/924,434 Filing Date: October 22, 2019
Our development program is championed by the University of Miami, a major U.S. research institution with a worldwide reputation in TBI research and treatment. Working with the University of Miami we aim to shift the mainstream perceptions about psychedelics by establishing the scientific underpinnings of the two compounds’ medical benefits and then developing a prescription-based therapeutic medicine for this combined disorder and a number of other disorders on the horizon, such as obsessive-compulsive disorder (OCD).
George Scorsis, Chairman of Tassili
The acquisition of Tassili by Champignon Brands is to consist of an all share transaction. Total consideration will consist of the issuance of 16 million shares, with a finders fee also being applicable.
Champignon Brands last traded at $0.42 on the CSE.
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