Biotech
Tuesday, August 13th, 2024 2:36 pm EDT
Key Points
- Partnership Agreement: Optimi Health and Psyence Biomedical have signed a non-binding Letter of Intent (LOI) in which Optimi will potentially become the exclusive supplier of GMP nature-derived psilocybin extract for Psyence’s global drug development and commercialization efforts, particularly in palliative care.
- Clinical and Regulatory Support: Under the LOI, Optimi will provide comprehensive Chemistry, Manufacturing, and Control (CMC) support for Psyence’s regulatory submissions and future clinical trials, aiding in the development of psilocybin-based therapies for mental health conditions.
- Focus on Palliative Care: The collaboration aims to advance the development of psilocybin-based treatments, with a focus on mental health disorders within the context of palliative care, potentially leading to transformative therapies in this area.
VANCOUVER, British Columbia and NEW YORK, Aug. 13, 2024 (GLOBE NEWSWIRE) — Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) (“Optimi”), a GMP-approved, Health Canada licensed psychedelics pharmaceutical manufacturer specializing in botanical psilocybin and MDMA, and Psyence Biomedical Ltd. (NASDAQ: PBM) (“Psyence”), a developer of nature-derived psilocybin-based therapeutics, are pleased to announce that the companies have entered into a non-binding Letter of Intent (“LOI”). This arrangement would position Optimi as the exclusive supplier of GMP nature-derived (non-synthetic) psilocybin extract for Psyence’s global drug development and commercialization initiatives for FDA-approved use in the Palliative Care context.
Under the terms of the LOI, and subject to the execution of a binding agreement, Optimi will become the exclusive supplier of GMP nature-derived (non-synthetic) psilocybin extract for Psyence. Optimi will provide comprehensive Chemistry, Manufacturing, and Control (“CMC”) support for regulatory submissions related to these trials and any future Investigational New Drug (“IND”) applications. Psyence will obtain exclusive rights to Optimi’s drug candidate for treatment use in the Palliative Care context.
Bill Ciprick, Optimi Health CEO, expressed enthusiasm for the partnership: “This collaboration would bring together two innovative companies dedicated to advancing psilocybin-based therapies and quality science. By ensuring a reliable supply of high-quality GMP nature-derived psilocybin extract for Psyence’s clinical trials, we will once again demonstrate our commitment to delivering products on demand and at the most affordable price.”
Neil Maresky, MD, Psyence Biomedical CEO, highlighted the strategic importance of this long-term arrangement: “The exclusive supply agreement, once executed, will provide Psyence Biomed with high-quality, mushroom-derived psilocybin extract needed for our critical studies within our global development program. With Optimi’s support, we will be able to confidently move forward with our clinical trials and regulatory submissions, aiming to bring transformative treatments for mental health conditions, leading with Adjustment Disorder in the context of Palliative Care. This partnership will solidify our commitment to pioneering advancements in psychedelic-based mental health therapies.”
The successful outcomes of these trials may enable Psyence to commercialize the licensed product, in a way that it believes will revolutionize treatments within the Palliative Care setting.
This is a non-binding LOI and there can be no guarantee that the companies will execute a fully binding agreement.
Contact Information
Optimi Health Corp.
For more information about Optimi Health Corp., please contact: Bill Ciprick, CEO
Telephone: (778) 761-4551
For media inquiries, please contact:
Andrea Mestrovic
Email: Andrea@weareverypolite.com
For investor inquiries, please contact:
Michael Kydd
Email: investors@optimihealth.ca
For more information, please visit www.optimihealth.ca
Psyence Biomed
Email: ir@psyencebiomed.com
Media Inquiries: media@psyencebiomed.com
General Information: info@psyencebiomed.com
Phone: +1 416-477-1708
Investor Contact:
Jeremy Feffer
Managing Director
LifeSci Advisors
jfeffer@lifesciadvisors.com
About Psyence Biomed
Psyence Biomedical Ltd. (Nasdaq: PBM) is the world’s first life science biotechnology company focused on the development of botanical (nature-derived, or non-synthetic) psilocybin-based psychedelic medicine to be listed on Nasdaq. The name “Psyence” combines the words “psychedelics” and “science” to affirm Psyence Biomed’s commitment to an evidence-based approach to innovation as it works to develop safe and effective, nature-derived psychedelic therapeutics to treat a broad range of mental health disorders. Psyence is initially focused on mental health disorders in the context of Palliative Care.
About Optimi Health Corp.
Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) is a leading psychedelics pharmaceutical manufacturer licensed by Health Canada. Specializing in controlled substances such as botanical psilocybin and MDMA, Optimi is dedicated to supplying safe, top-tier GMP-grade products and APIs to researchers, drug developers, and authorized patients worldwide. Optimi’s facilities in Princeton, British Columbia, are purpose-built to develop proprietary formulations under strict GACP and GMP conditions, ensuring unparalleled quality and reliability. Optimi is committed to being the most trusted supplier of safe psychedelic drug candidates globally.
