XPhyto Therapeutics Corp. (CSE:XPHY, OTCQB:XPHYF) has told investors that it plans to update on its strategy for its psychedelic medicine program in coming days as the group reported on progress at its three main divisions - Vektor Pharma, 3a-diagnostics and XPhyto Laboratories.
In a statement, the bioscience firm noted that subsidiary XPhyto Laboratories Inc was pursuing a "multi-pronged approach" to psychedelic medicine, which included GMP drug synthesis, proprietary drug delivery systems, novel psychedelic analogue engineering, and clinical validation.
Elsewhere, at its German subsidiary, 3a-diagnostics GmbH, the group's saliva-based disease detection platform provides XPhyto with the potential to disrupt the diagnostics and rapid test market, it added.
READ: XPhyto executes Covid-ID lab sales contracts with German test clinics and pharmacies in multi-product rollout strategy
3a has a portfolio of oral biosensors for mouth-related infections and influenza and a rapid point-of-care PCR test platform with a CE-mark (CE-IVD) approved for sale in Europe, and an oral dissolvable biosensor for ultra-low-cost self-testing which is currently in product development.
"EU commercial registration for its oral inflammation biosensor product was received in late 2021," said XPhyto.
At the company's Vektor Pharma TF GmbH subsidiary, based in Baden-Württemberg, lead products are a hybrid-generic CBD prescription drug formulation that uses the firm's proprietary oral dissolvable (ODF) platform to deliver precise dosages for the treatment of certain forms of childhood epilepsy; and a generic Rotigotine patch for the slow and steady release of the active compound over 24 hours.
"Further details and strategy regarding these clinical programs will be released in due course as the CBD ODF and Rotigotine patch advance to pilot and pivotal studies respectively," XPhyto told investors.
XPhyto Therapeutics is a diversified bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities.
It has research and development (R&D) operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.
Contact the author at giles@proactiveinvestors.com