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Biotechnology

Zollaris Laboratories Corp. Receives Health Canada authorization to investigate PSILOCYBIN (PSYCHEDELIC MUSHROOMS) for potential new therapeutics


“We are pleased that Health Canada has recognized psilocybin as a possible remedy for unmet mental conditions and we are proud to be part of its development”

Zollaris Laboratories Corporation. (hereafter, “Zollaris”) receives authorization from the Health Canada, Office of Controlled Substances for analytical investigation of several psilocybin powders currently permitted under license and available in Canada. The Health Canada license permits Zollaris to proceed to screen suitable candidates and drug preparations to be used in clinical trials to be initiated in 2022. Health Canada has recognized the importance of Zollaris’ analytical research infrastructure, drug development and manufacturing programs aimed at producing a molecular standardization of psilocybin form factors.

Psilocybin therapy is an approach being investigated for the treatment of mental health challenges where current drug therapies have known and unwanted adverse effects and present high potential to addiction. Psilocybin is a psychoactive ingredient found in some species of mushrooms, often referred to as ”magic mushrooms” and which have been the focus of renewed interest for medical use in mental health where current therapeutics are not ideal. With this license, Zollaris can enter the pharmaceutical drug development arena to develop future therapeutics.

Under the title of “Drug Development Pathways to Bring Psilocybin (and Psilocin) to the Pharmaceutical Market”, Zollaris Labs will complete the necessary steps in order to produce the first standard of Psilocybin to be sold under USP certification.

Zollaris investigational program is a pivotal passage to get pharmaceutical grade Psilocybin powders with a Made in Canada stamp, in our fully licensed GMP Facility.

ABOUT ZOLLARIS

Zollaris Corporation is a 30,000 state-of-the-art facility located in Hawkesbury, ON. The facility was commissioned in 2019 and founded by experience pharmaceuticals leaders. Zollaris has several categories of licenses which enable it to contract manufacture, perform technical analysis of natural products (“NPNs”), cannabinoids and psychedelic’s for customers and its own brands to be sold in the appropriate medical and recreational channels.

Forward-looking statements

Some statements in this release may contain forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include the Company’s inability to obtain sufficient financing to execute its business plan; competition; regulation; anticipated and unanticipated costs and delays; the success of the Company’s research and development strategies; the ability to obtain orphan drug status; the applicability of the discoveries made; the successful and timely completion and uncertainties related to the regulatory approval process; the timing of future clinical trials; the timing and outcomes of regulatory or intellectual property decisions; and other risks disclosed in the Company’s public disclosure record on file with the relevant regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and the Company does not undertake any obligation to publicly update them to reflect new information or subsequent events or otherwise except as required by applicable securities legislation.

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