VANCOUVER – Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) a plant-based extraction company, reported that it has delineated the timetable and milestones for its study on the formulation and manufacturing of psilocybin based active treatments for oral tablets, capsules and a nasal gel that will be used as an investigational product. The study with be conducted at the Toronto Institute of Pharmaceutical Technology by Dr. Alexander MacGregor, a key scientific advisor to the Company.
The study will focus on formulating, manufacturing and clinical bioavailability testing of rapid onset psilocybin dosage forms that could be used in future efficacy clinical trials by both Pure Extracts and its pharmaceutical customers. Clinical batch manufacturing, packaging and labelling are all included in the study as is conformity testing and stability testing (including both long-term and accelerated). The study will conform to both Canadian Good Manufacturing Practice and Good Clinical Practice standards.
Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are excited about the R&D progress we are going to make with TIPT over the next 6 – 8 months while waiting to receive our Dealer’s License from Health Canada. We will be well prepared for our move into the controlled substances world of psychedelics and will have advanced knowledge regarding psilocybin and its associated novel delivery mechanisms.”
The company features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP standards aiming towards export sales of products and formulations, including those currently restricted in Canada, into European jurisdictions where they are legally available. On September 25, 2020, Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act and the Company’s stock began trading on the Canadian Securities Exchange on November 5, 2020.
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