First Movers in the Psychedelics Space Position Themselves as Industry Leaders

FN Media Group Presents Market Commentary


New York, NY – February 25, 2021 – The emergence of psychedelics as a mental health solution and as a legitimate industry has been one of the most radical market developments that we have seen in decades. Far from being a fleeting trend, the global psychedelics market is primed to grow at a healthy CAGR of 16.3% up to 2027 to $6.85 billion. This market is being driven by changing public attitudes and perceptions towards psychedelics, accelerating research and understanding on these substances’ medical utilities, and an urgent need for more effective mental health solutions. These are all trends that are likely to continue driving this market forward in the years to come, as companies like Pure Extracts Technologies Corp. (CSE:PULL) (OTCPK:PRXTF) (XFRA: A2QJAJ), Revive Therapeutics (CSE:RVV) (OTCPK:RVVTF), Mydecine Innovations Group Inc. (CSE:MYCO) (OTCPK:MYCOF), Aikido Pharma Inc (NASDAQ:AIKI), and Compass Pathways (NASDAQ:CMPS) push to become leaders in this emerging space.


Pure Extracts Prepares For Dealers Licence With Psychedelic Drug Research


Canadian extraction company Pure Extracts Technologies Corp. (CSE:PULL) (OTC:PRXTF) (XFRA: A2QJAJ) is in the process of becoming a leader in pharmaceutical psychedelic innovation. The Company is currently compiling its application with Health Canada for a Dealer’s Licence under the Controlled Drugs and Substances Act with plans to produce pharmaceutical-grade psilocybin extracts out of the Company’s fully built out EU-GMP compliant extraction lab located north of Whistler, British Columbia. Pure Extracts’ cutting edge CO² and ethanol extraction technology is ideal for producing accurately dosed and reliable psilocybin products for use with psychedelic assisted psychotherapy.


Once Pure Extracts obtains its Health Canada Dealer’s Licence, the Company will be able to  produce, distribute, and sell commercial psilocybin and psilocin products in Canada. In the meantime, the Company is working to advance research into psilocybin extracts for pharmaceutical purposes. On January 14, the Company delineated the timetable and milestones for a previously announced study on the formulation and manufacturing of psilocybin-based active treatments for oral tablets, capsules, and a nasal gel. The study will be conducted at the Toronto Institute of Pharmaceutical Technology by Pure Extracts scientific advisor Dr. Alexander MacGregor and focus on formulating, manufacturing, and clinical bioavailability testing of rapid onset psilocybin dosage forms.


“We are excited about the R&D progress we are going to make with TIPT over the next 6 to 8 months while waiting to receive our Dealer’s License from Health Canada,” Pure Extracts CEO Ben Nikolaevsky said in the Company’s release. “We will be well prepared for our move into the controlled substances world of psychedelics and will have advanced knowledge regarding psilocybin and its associated novel delivery mechanisms.”


Biotech Companies Position Themselves in Emerging Psychedelics Market


As the psychedelics industry begins to gain steam, biotech and life sciences companies are rushing to position themselves in the emerging market. Revive Therapeutics (CSE:RVV) (OTCPK:RVVTF) announced on February 17 that the company had entered into an asset purchase agreement to acquire PharmaTher Inc.’s psilocybin-related intellectual property. The company says that the acquisition will solidify its position in the psychedelics industry with a leading psychedelics pharmaceutical platform and that the company will use this technology to advance its psilocybin program for treatment of clinical needs in mental health, cancer, and neurological disorders.


Also on February 17, Mydecine Innovations Group Inc. (CSE:MYCO) (OTC:MYCOF) announced that the company’s subsidiary, Mindleap Health, had filed a provisional patent for its technology platform in both The United States Patent and Trademark Office and the Canadian Intellectual Property Office. Mindleap Health is the world’s first telemedicine application purpose-built to support psychedelic medicine.


On January 6, biotechnology development company Aikido Pharma Inc (NASDAQ:AIKI) announced that it had executed a patent license agreement for technology related to psilocybin for cancer treatment and treatment of cancer side-effects. Aikido’s announcement is noteworthy for the psychedelics sector because Aikido has been an established player in the cancer treatment space for decades, and the company’s interest in psychedelics signals momentum for these treatments in the broader biotech space. The company’s CEO says that the company sees psychedelics as an expanding area of treatment.


Compass Pathways (NASDAQ:CMPS) announced on February 9 that the company has expanded its Discovery Center through collaborations with laboratories at UC San Diego, School of Medicine, and Medical College of Wisconsin. Compass’s Discovery Center is a research network dedicated to developing new, optimised psychedelic compounds to address unmet medical needs. The company says that it intends to expand its research network nationwide.


The psychedelics market is just getting started, and as the industry grows and matures, first movers like Pure Extracts could be set up to become leaders in a game changing pharmaceutical space.


Click here to find out more about Pure Extracts.


DISCLAIMER: (MSC) is the source of the Article and content set forth above.  References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.


The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Pure Extracts.




This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

Media Contact:
FN Media Group, LLC