VANCOUVER – Pure Extracts Technologies Corp. (CSE: PULL) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp, and the rapidly emerging functional mushroom sector, is pleased to support Health Canada’s proposed intent to revise the Special Access Programme (SAP) and related regulations to permit certain authorized uses of psilocybin-assisted psychotherapeutic treatments. The intended SAP revision, announced on December 11th, could lead to important new medical applications, particularly in the complex and growing mental health sector.
Health Canada’s announcement could act as a milestone achievement driving advanced research initiatives forward. This includes several ongoing clinical trials that consistently indicate breakthrough therapy potential of psilocybin-assisted psychotherapy for a number of mental health patients suffering from conditions where conventional therapies have failed or have proven unsuitable.
The proposed SAP update emphasizes the strategic importance of Pure Extracts engagement of a globally recognized operations, compliance, and regulatory consulting firm to advise on the Company’s application to Health Canada for a Dealers Licence under the Controlled Drugs and Substances Act (CDSA). The CDSA and its Regulations provide the framework for legal access to controlled substances, and the control and regulation of production, distribution, and sale. One of Health Canada’s responsibilities is to provide the licensing and oversight framework for the legal production of controlled substances.
Pure Extracts CEO Ben Nikolaevsky states, “The Special Access Programme may prove to be the tipping point and fundamental milestone event that eventually transforms an entire segment of the medical community’s outlook towards the treatment of mental health conditions. With greater and more open access to trials, researchers can move towards larger and more comprehensive studies eventually including thousands of patient candidates. Through multiple large-scale studies, we see great promise in determining treatment safety, efficacy, and desired outcomes. Our research suggests a broad spectrum of products encompassing multiple formulations will be required to service demand across potentially intensive therapies through to microdosing protocols. Exact formulations and high-quality products will be required, and that is fundamentally the sort of work we understand and excel at. Here at Pure Extracts, we believe in the future of the mushroom-based drug development sector and are committed to building value based on the growing number of positive indicators for future success.”
The Company features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia.
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