VANCOUVER, BC / ACCESSWIRE / May 12, 2022 / Cube Psytech Inc. (the "Company" or " CUBE"), a biopharmaceutical and biotechnology company focused on the research and development of functional and psychedelic mushroom technologies for use in natural healthcare products, is pleased to announce the approval of the company's application to Health Canada to use restricted drugs for scientific purposes, the following authorization is being granted to pursuant to section J.01.059 of Part J of the Food and Drug Regulations (FDR).
CUBE has been authorised to carry out laboratory research with the restricted drugs, and to possess the restricted drugs for the purposes of such research. Specifically, Cube is authorized to conduct said research in the: "Optimization of psilocybin and its L-Tryptophan derivatives stabilities using different genetic strains of Psilocybe mushrooms".
The substances will be supplied in by Numinus Biosciences, a trusted leader in the production of the above controlled substances in a partnership previously outline in a company release.
CUBE Co-Founder and Chief Science Officer, Srinivasa Reddy had the following to say about the license approval: "This a major step in the development of our company, the approval of this application allows us to proceed with the development of our protocols, advance the science in the field of psychedelic medicine and continue with our mission to create revolutionary patented properties for the treatment of PTSD, depression, anxiety, cancer and countless other mental and biological health concerns."
On Behalf of The Board of Directors
Erick Factor
Chief Executive Officer
About CUBE PSYTECH INC.
Cube Psytech Corporation. is a Canadian bio-pharmaceutical and biotechnology company focused on the use of psilocybin to improve health issues such as mental illness, PTSD, addiction disorders, cancer, and depression. The company is comprised of a best of class sciences and executive leadership team with access to bio-pharmaceutical patents.
To learn more about Cube Psytech and opportunities to invest please visit www.cubepsytech.com or Dealmaker.
Contact: Erick Factor
Investor Relations: investors@cubepsytech.com
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future of the Company's business. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The statements in this news release are made as of the date of this release
SOURCE: Cube Psytech Corporation
View source version on accesswire.com:
https://www.accesswire.com/701158/Health-Canada-Approves-Cube-Psytechs-Controlled-Substance-License-Application
