Psyched Wellness (CSE: PSYC) has completed a number of milestones with regards to getting its first amanita muscaria mushroom products to market. The company announced this morning that it has completed lab experiments that are comprehensive in nature for the final extraction protocol for the amanita muscaria mushroom.
The protocol for extraction will then be used to enable the company to get the first line of products to market. The material safety data sheet for its amanita muscaria extract has also been completed, along with assembly of safety and efficacy narratives.
The completion of the extraction protocol will essentially allow for the company to expand operations in terms of production, while also enabling a higher yield and capacity of the psychoactive compound found within the Amanita Muscaria mushroom, known as Muscimol.
“With the completion of the final extraction process and finalizing the SDS, we are now able to start producing larger-scale extraction and ship it abroad. The team is doing a great job and I am confident we will be able to start our pre-clinical trials with our CRO partner in Asia before year ends.”
David Shisel, Chief Operating Officer of Psyched Wellness
The announcement of a completed extraction protocol follows the news earlier this week that Psyched has completed its toxicology assessment on the Amanita Muscaria mushroom. The results, which were positive in nature, have enabled the firm to move ahead with establishing a path to market for its products. The company is working towards submitted to the US FDA and Health Canada for classification as a new dietary ingredient and a natural health product, respectively.
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Psyched Wellness last traded at $0.25 on the CSE.
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