Why Canada is Becoming a Hub for Psychedelics Research and Development - Seite 2

On March 9, Numinus announced plans to significantly expand the company's psychedelics research laboratory by the end of 2021. The expansion will add 7,500 square feet to the facility with the new space located in a leased building adjacent to the existing lab. The company says that this development will not interfere with research work currently being conducted at the existing Health Canada-compliant lab.

"Our investment in an expanded lab marks a key milestone for Numinus and provides the necessary foundation for therapeutics development and research infrastructure to advance psychedelic-assisted psychotherapy in Canada and around the world," Sharan Sidhu, Science Officer and General Manager for Numinus Bioscience, said in the company's release. "When complete, the facility will enhance our IP and partnerships strategy, generate more revenue through analytics testing for psychedelics and other contract services, and increase our supply of consistent, safe and effective psychedelics for clinical use and trials undertaken by academic, not-for-profit, and for-profit entities.

The announcement of Numinus's new facility buildout comes days after the company announced new amendments to its licence that will allow it to conduct psychedelics research on a broader range of substances, which now includes ketamine and LSD, in addition to mescaline, N-Dimethyltryptamine (DMT), N-Methyl-3,4, methylenedioxyamphetamine (MDMA), psilocin, and psilocybin. The company says that these new capabilities will place Numinus at the forefront of global psychedelics research.

Companies Prepare For Psychedelics Space's Next Phase

Canadian companies are positioning themselves as leaders in both the business and research sides of the psychedelics space. Vancouver-based Empower Clinics (CSE:CBDT) (OTCPK:EPWCF) announced last year that the company has created a subsidiary focused on psilocybin research and psychedelics therapy for the treatment of mental health issues, including anxiety, depression, post-traumatic stress disorder, and addiction.

On February 17, Toronto-based Revive Therapeutics (CSE:RVV) (OTCPK:RVVTF) announced that the company is strengthening its position in the psychedelics industry with the acquisition of PharmaTher Inc.'s psychedelics pharmaceutical platform. Revive says that the company intends to use this technology to advance its psilocybin program for treatment of clinical needs in mental health, cancer, and neurological disorders.