Albert Labs International Corp (CSE:ABRT) has announced the validation of its controlled substance supply chain through the successful global distribution of its psilocybin-based KRN active pharmaceutical ingredient (API).
The company told investors it successfully distributed its proprietary KRN API from it Health Canada-licensed laboratory in Vancouver, adding that very few companies have the ability to globally distribute schedule 1 controlled substances. This now enables the API to be used in pre-clinical studies at its Infarmed licensed laboratory in Porto, Portugal, it added.
Albert Labs said the distribution follows an extensive research and development programme allowing for the production and scaling of highly potent yields of its KRN API, for which intellectual property (IP) protection has been achieved, using bioreactor technology to ensure the efficient and economical manufacture of its mycelium derived pharmaceutical product.
READ: Albert Labs contracts iNGENū to conduct first in-human study of drug KRN-101
"Validating our supply chain across two of our jurisdictions, North America and Europe marks a valuable milestone in our operational program,” Albert Labs CEO Dr Michael Raymont said in a statement. “We have demonstrated our ability to distribute KRN-101, a schedule 1 substance, to global, licensed facilities, and this achievement advances our progress by establishing the viability of our supply chain as we prepare for our first-in-human studies.”
The company noted that it is nearing completion of its KRN-101 pre-clinical studies, which include full analytical profiling, in-vivo, and in-vitro studies, allowing the medicine to be used in its first, in-human studies in Melbourne, Australia due to begin in the second quarter of 2023.
Albert Labs is a biopharmaceutical drug discovery company, focused on gaining regulatory approval for active compounds in the treatment of mental health, and providing rapid access to effective prescription medicines for people suffering from mental health disorders.
Contact the author at stephen.gunnion@proactiveinvestors.com