Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) is set to start distributing shrooms to a psilocybin-focused pharmaceutical developer.
On Tuesday, the Vancouver-based producer with operations in Princeton, British Columbia announced a partnership with the clinical-stage natural psilocybin developer company Filament Health (OTCQB:FLHLF) (NEO:FH) (FSE:7QS).
Under the agreement, both companies have agreed to a one-year term which would allow Filament to place orders for whole, dried, fruiting body mushrooms on a case-by-case basis.
The mushrooms will be grown and distributed from Optimi’s 20,000 square foot EU-GMP facility in Princeton which is used for drug development, testing and analysis.
Optimi stock went up by 7.14 per cent on Tuesday to $0.38 on the Canadian Securities Exchange.
The company recently signed another deal with Halucenex Life Sciences to deliver the shroom fruiting bodies.
“Our supply agreement with Filament Health is an excellent fit for both parties,” Optimi CEO Bill Ciprick said.
“Filament’s commitment to the development of unique intellectual properties using natural psychedelic medicines, and to the advancement of natural psilocybin in the space as a whole, are well-aligned with our own values and goals for the future of psychedelics,” said Ciprick.
Filament CEO Benjamin Lightburn said the company is pleased with the partnership as it builds its own supply chain and explores external suppliers.
“This is an important step for Filament, and we look forward to determining the compatibility of Optimi’s product with our industry-leading natural extraction technology,” Lightburn said.