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XPhyto Therapeutics Corp.: XPhyto Announces Psychedelic Pharmaceutical Production Agreement - Seite 2

Psychedelic compounds are a highly promising new class of drugs with strong potential for the treatment of mental health related medical conditions such as depression, anxiety, addiction, and trauma-related stress disorder. With a psilocybin production program underway in Germany, XPhyto is reviewing several other compounds as potential candidates for its first psychedelic pharmaceutical production program in Canada. Considerations include the medical indication, market demand, projected supply, competition, production process, toxicity profile, delivery method, historic use, and regulatory framework for each potential compound.

The Agreement with Applied includes the potential synthesis of a broad range of psychedelic compounds based on the dealing agreement (the "Dealing Agreement") between XPhyto and Prof. Dr. Raimar Löbenberg, announced November 9, 2020. The Dealing Agreement is exclusive to psychedelic research carried out by Dr. Löbenberg, subject to two pre-existing contracts for R&D.

On November 3, 2020, the Company announced an agreement with a leading German university for the exclusive development of a proprietary biotechnology process for the industrial manufacture of pharmaceutical grade psilocybin.

The Company will provide further information and updates in due course.

About XPhyto Therapeutics Corp.

XPhyto Therapeutics Corp. is a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The Company has research and development 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.