Albert Labs is going public soon. ME Resource Corp (CSE:MEC) (OTC:MEEXF), with which Albert Labs has signed a definitive agreement to complete a reverse takeover (RTO), has submitted a listing statement supporting its application to trade on the Canadian Securities Exchange (CSE).
Albert Labs is currently a private corporation focused on the emerging field of psychedelic-assisted therapy and research, building IP and expertise around accelerated, real-world evidence studies. In March, Albert Labs said that the combined company, subject to CSE approval, will list under the name Albert Labs Inc and maintain its business as currently constituted.
In a statement, Chand Jagpal, chief operations officer at Albert Labs, said: “The much-anticipated submission of the listing statement represents a significant milestone for Albert Labs.”
READ: Albert Labs inks definitive reverse takeover agreement with ME Resource Corp, moves closer to CSE listing
“We’re excited to move towards our goal of becoming a public company to attract growth capital and enable Albert Labs to continue towards its goal of being a worldwide leader and provide accelerated access to psychedelics medicines and therapy.”
Albert Labs has submitted applications for psychedelic research and a dealer’s license which will allow the company to test, possess, buy and sell MDMA, psilocybin, psilocin, DMT and mescaline at its lab in Burnaby, British Columbia. These licenses will also allow the company to import/export, test, and conduct R&D on these controlled substances.
The company’s core focus is treating patients with urgent and unmet mental health needs, starting with cancer-related anxiety and depression through trials in the UK and Scandinavia. Albert Labs will be the first psychedelics company to use an accelerated pathway, known as real-world evidence (RWE) studies, to more swiftly gain approval and reimbursement for its proprietary therapies.
Albert Labs will also own the wide dataset collected in the studies to develop an IP stack around unique formulation and delivery mechanisms of its approved psychedelics drug therapy.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive