Creso Pharma’s wholly-owned psychedelics subsidiary, Halucenex Life Sciences Inc. completes important milestones ahead of first psilocybe mushroom harvest
Highlights:
- Upgrades to grow room completed allowing Halucenex to commence maiden mushroom cultivation program
- Company has recently completed installation of food-grade washable wall and ceiling panels and heat and humidity control systems for growing psilocybe mushrooms
- Steps toward cultivation are now underway with first harvest anticipated in the coming months
- Growing botanical psilocybe mushrooms will allow Halucenex more cost-effective R&D
- High Performance Liquid Chromatography (HPLC) System successfully commissioned to test Active Pharmaceutical Ingredients in synthetic and botanical psilocybe mushrooms
- HPLC methods are used in pharmaceutical manufacturing, R&D and for medical purposes– system expected to provide extensive insight ahead of product development initiatives
- Method development protocols for psilocybin, psilocin potency and purity testing being currently established in collaboration with R&D partners
Creso Pharma Limited (ASX:CPH, OTC:COPHF, FRA:1X8) (‘Creso Pharma’ or ‘the Company’) is pleased to advise that wholly-owned, Canadian based psychedelics company, Halucenex Life Sciences Inc. (“Halucenex”) has completed several milestones that will allow the Company to progress its first psilocybin mushroom harvest and other product development initiatives.
Upgrades to state-of-the-art grow room:
Halucenex has completed a series of renovations to its grow rooms at its medical facility in Nova Scotia. The recent upgrades will lay the foundation for the Company’s maiden harvest of inoculated psilocybe mushrooms. The Company has completed the installation of food-grade washable wall and ceiling panels, as well as commissioned heat and humidity control systems for growing psilocybe mushrooms. The facility upgrade follows extensive internal consultations and discussions with partners to ensure optimal growing conditions.
Halucenex will now progress steps towards cultivation and anticipates its first harvest to complete within the next three months. Harvested psilocybe mushrooms will then be used for R&D and product development initiatives.
Successfully commissioning of High Performance Liquid Chromatography (HPLC) System:
Halucenex has also recently installed a high performance liquid chromatography system at its medical facility in Nova Scotia, which will be utilised to test the active pharmaceutical ingredients (API) in both synthetic and botanical psilocybe mushrooms.
HPLC is an analytical chemistry technique used to separate, identify and quantify each component in a mixture. The method is commonly used for pharmaceutical manufacturing, R&D and for medical purposes.
Halucenex will use the new HPLC system to gain further insight into the level of APIs in synthetic and botanical psilocybe mushrooms cultivated at its facility. This is an important development, as it will provide Halucenex with additional data which can be used for initial product development initiatives.
Method development for psilocybin and psilocin potency and purity testing are currently being established in collaboration with the Company’s R&D partners.
Commentary:
Managing Director and CEO Mr William Lay said: “Halucenex has continued to make very strong, value accretive progress over the course of 2022.
“The successful commissioning of the HPLC system will allow the group to gain a detailed understanding of botanical and synthetic psilocybin content and purity. This is imperative as we move towards product development and other research initiatives.
“The recent renovations to the Company’s grow room are an important milestone ahead of our first planned harvest. The initiative has laid a strong foundation to commence cultivation, which will provide cost effective biomass for R&D purposes.
“The Board and management look forward to providing additional updates to shareholders, once ethics approval for the planned clinical trial has been secured and patient recruitment initiatives are underway.”
-Ends