Psyched Wellness Ltd (CSE:PSYC) (OTCQB:PSYCF) (FRA:5U9) said it has submitted a provisional patent application with the US Patent and Trademark Office to cover its unique extraction processes for its proprietary Amanita muscaria extract AME-1.
The company, which focuses on the production and distribution of artisanal functional and psychedelic mushrooms, said the application, 63/160,721, was submitted on March 12 and discloses and claims muscimol extraction from Amanita mushrooms, and more particularly, enhanced muscimol extraction processes from Amanita muscaria, including by distillation and refluxing and/or pressing, resulting in a liquid or powder extract useful for preparations for human health.
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"We have invested a lot of resources to develop AME-1 using a unique extraction protocol that we have developed. We believe that AME-1 has great potential and will be the foundation for many future products," Psyched Wellness chief operating officer David Shisel said in a statement.
"Filing this provisional patent is key milestone for PSYC and our shareholders. We recognize the patent frenzy that is taking place in the sector and although we are the only company (we are aware of) studying Amanita Muscaria and, specifically, Muscimol, it is critical to protect our work and our shareholders from others infringing on our intellectual property. I see this as the first of many provisional patents to come," added chief executive Jeff Stevens.
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