Vancouver-based Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) is set to supply magic mushrooms to the Canadian subsidiary of an Australian pharmaceutical.
On Friday, the psilocybin-producer Optimi announced it entered into a supply agreement with Halucenex Life Sciences, Inc. which is a subsidiary of the pharmaceutical Creso Pharma of Australia (ASX:CPH) that develops cannabis-derived therapeutic products.
Creso was the first company to import medicinal cannabis to Australia and it formally entered the Canadian market after acquiring MerNova, a Nova Scotia-based medical cannabis growing operator. Its life sciences subsidiary Halucenex is based in Windsor and focuses on researching, developing and licensing psychedelic compounds.
The supply agreement includes the recently harvested batch of psilocybe cubensis mushrooms at its Princeton, British Columbia facility.
The magic mushrooms will be supplied to Halucenex in the form of whole, dried mushroom fruiting bodies.
Optimi CEO Bill Ciprick said this first supply agreement comes after the first complete cultivation cycle and it is a “powerful affirmation” of our decision to pursue the development of natural GMP psilocybin.
“From this initial proof-of-concept batch, our cultivation team will continue to scale our operations to meet the demands of the sector, domestically and internationally with licensed entities and for individual patients within Canada according to the terms of the Special Access Program,” Ciprick said.
The Canadian Special Access Program allows patients to access unregulated substances that have been efficient in treating some medical conditions.
Halucenex CEO, Bill Fleming, says the agreement with Optimi is one both companies will benefit from.
“We’re very excited to be moving forward on this supply agreement with the team at Optimi Health,” Fleming said.
“Among our top priorities in the development of a psychedelic-assisted psychotherapeutic model for conditions such as anxiety and post-traumatic stress disorder has been to secure a safe, consistent supply of GMP psilocybin.”