Psyched Wellness (CSE: PSYC) has begun the process of protecting its intellectual property. The firm this morning announced that it has submitted a provisional patent application with that of the United States Patent and Trademark Office.
The provisional patent application is for that of the firms extraction process for the Amanita Muscaria extract AME-1. The application, which was filed March 12 as App. No. 63/160,721, discloses and claims muscimol extraction from the Amanita mushroom.
Also included in the application is enhanced processes that enable the extraction of muscimol, including distillation and refluxing and/or pressing, which is to result in an extract in either liquid or powder form for use in human health. The extract, and thereby the extraction product, is expected by the company to serve as the foundation for future products.
“Filing this provisional patent is key milestone for PSYC and our shareholders. We recognize the patent frenzy that is taking place in the sector and although we are the only company (we are aware of) studying Amanita Muscaria and, specifically, Muscimol, it is critical to protect our work and our shareholders from others infringing on our intellectual property. I see this as the first of many provisional patents to come.”Jeff Stevens, CEO of Psyched Wellness
Psyched Wellness last traded at $0.35 on the CSE.
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