KetamineOne Sees CRO Subsidiary Apply For Controlled Substance Dealers License
KetamineOne Capital (NEO: MEDI) this morning announced that its wholly-owned subsidiary, KGK Science, has hit certain milestones related to expanding its service offerings. The expanded offerings relate to the firms psychedelic research capabilities as well as its expanded access to patients.
The expanded research capabilities in the psychedelics space is related to a recently applied for controlled drug and substances dealer’s license with Health Canada. If granted, the license will enable the company to conduct clinical studies and R&D of controlled substances, including psychedelic compounds such as psilocybin, ketamine, MDMA, LSD, psilocin, mescaline, DMT and more.
The dealer’s license as a result would enable KGK Science to significantly expand its service offerings for psychedelics, including offering a solution for third parties to conduct clinical trials on such compounds. To this end, KetamineOne has completed what is referred to as pre-qualification audits of its Canadian clinics, as it works to enable its clinics to be used for future clinical trials.
Once completed, the use of KetamineOne’s clinics in conjunction with KGK Science would enable the firm to offer contract research services that have shortened recruitment timelines for studies, thereby differentiating its service offerings from its peers.
“KGK will now have the ability to utilize our clinic sites for future trials, gain access to a large patient database and, upon approval, have a narcotic dealers license. Our goal is that these initiatives will also provide Ketamine One patients with breakthrough treatments through clinical trials and our clinical staff with experience and protocols needed for the eventual expansion of new treatments.”
Adam Deffett, Interim CEO
KetamineOne last traded at $1.46 on the Neo.
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