Mydecine Innovations Group (OTCMKTS:MYCOF) has completed the first dried psilocybin mushrooms international legal export.
Mydecine completes first commercial psilocybin mushrooms harvest
The company announced in December 2020 the completion of the first commercial harvest of 20 Kg of psilocybin mushrooms. Mydecine harvested the mushrooms from a private mycology-focused research and cultivation facility in Jamaica. The first harvest shipment has already arrived at the company’s Canadian Current Good Manufacturing Practice (CGMP) facility. The facility has a Health Canada Schedule 1 Dealer’s license, which allows for legal export/import, cultivation, R&D, commercial sales, and product development of active psychedelic medicinal compounds.
Joshua Bartch, the company’s CEO and Chairman, said that the completion is a huge milestone for its 2021 goals because it can now access a quality source of a much-needed product for research purposes. This will provide Mydecine’s CGMP facility with naturally-derived psilocybin to sell to licensed researcher facilities globally. Bartch said that the company has spent considerable time with government agencies in creating and developing protocols ensuring smooth biomass flow in compliance with federal laws. Most importantly, this will be the first and only solidified psilocybin mushrooms supply chain, and Bartch said they believe the supply chain will open doors to potential partnerships and participation in initiatives the company considers promising.
Similarly, the CEO confirmed that they have made considerable progress towards the first IND on 99.9% pure psilocybin product mimicking synthetic form. Also, Mydecine’s naturally sourced psilocybin is less costly and efficient relative to the synthetic form and will be a better option to meet current market demand, any voids, and potential patent claims.
Mydecine discover more active compounds in psychedelic mushrooms
In the strongest psychedelic mushrooms, psilocybin accounts for only 1% of total mass, implying that almost 99% of the mushrooms are vegetative matter and other active medicinal compounds. Bartch said that they have discovered other active compounds besides psilocin and psilocybin from initial psychedelic mushrooms analysis. He added that this will be more effective relative to single-molecule synthetic psilocybin based on the initial results.
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