Psyched Wellness (CSE:PSYC, FRA:5U9, OTCQB:PSYCF) said it has entered into a service agreement with CannaLabs, a Canadian, London-based laboratory services company, licensed by Health Canada.
The life sciences company, which produces and distributes functional and psychedelic mushrooms, said it will use the services of CannaLabs to perform stability tests on its AME-1. This will help it to determine the expiration dates and storage conditions for the final AME-1 product.
READ: Psyched Wellness completes largest AME-1 extraction to date to support preclinical studies on Amanita-derived products
Psyched Wellness (CSE:PSYC, FRA:5U9, OTCQB:PSYCF) said CannaLabs will also develop a new testing method for the raw material to help it differentiate between other species and toxins, creating a safe and scientific protocol for acceptable raw material. All intellectual property and/or operational tools developed during the execution of the service agreement will be its sole property, the company added.
"Having CannaLabs working closely on the production side of AME-1 further enhances the product quality and validity ensuring AME-1 is a safe and viable product for human consumption," Psyched’s head of pre-clinical studies Brian Tancowny said in a statement.
After many months of pre-clinical trials and other scientific work that is still ongoing, Psyched said it has great confidence in its AME-1.
“Commencing the stability tests on the AME-1 is a big step that gets us closer to market,” Psyched Wellness chief operating officer David Shisel said.
Based in Toronto, Psyched Wellness is developing a line of Amanita muscaria-derived water-based extracts, teas and capsules designed to help with three health objectives: promote stress relief, relaxation and assist with restful sleeping.
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