Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Core One Labs (COOL) is looking to explore a joint venture with Lobe Sciences for the Clinical Development of Biosynthetic Psilocybin
  • Core One and Lobe will cooperate in the formation of the Joint Venture for the development, regulatory approval and marketing of biosynthetic psilocybin and other psychedelic compounds
  • Core One Labs’ business plan involves partnering with companies in the psychedelics space to provide them with a substantially lower cost
  • Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market
  • Core One Labs (COOL) is down 2.06 per cent and is trading at C$0.95 at market close

Core One Labs Inc. (COOL) has entered into a letter of intent with Lobe Sciences Ltd. involving the sale and distribution of biosynthetic psilocybin.

The joint venture structure remains subject to negotiations and legal and regulatory due diligence between Core One and Lobe. It may be altered for corporate, tax or securities reasons.

It is contemplated that Core One and Lobe will cooperate in the formation of the Joint Venture for the development, regulatory approval and marketing of biosynthetic psilocybin and other psychedelic compounds to be produced by Vocan Biotechnologies Inc., a wholly-owned subsidiary of Core One.

Core One will develop and manage the cGMP production and delivery of biosynthetic psilocybin, with Lobe being responsible for the clinical development and commercialization of the product(s).

Lobe has developed a patent-pending Nasal Mist Transducer Device to administer pharmaceutical agents such as a psilocybin-derived agent and/or N-acetylcysteine (NAC) at preselected dosages and times directly to the olfactory bulb.

The Nasal Mist Device will be utilized in the treatment of traumatic brain injuries and post-traumatic stress disorder.

The device design allows for the precise control and delivery of medicines through the nasal cavity for faster and more efficient uptake of psychedelics and other medicines that target the brain.

Core One Labs’ business plan involves partnering with companies in the psychedelics space to provide them with a substantially lower cost and stereochemically sound API grade biosynthesized psilocybin for use in the commercialization of their products, clinical trials and research purposes, as well as approved mental health and addictions treatments.

Core One’s projected production costs for biosynthesized psilocybin ranging between 10’s and 100’s of dollars a gram, compared to the average costs of other synthetic producers and extractors ranging from $7,000 to $10,000 a gram.

Core One views this as a significant value driver for themselves and its shareholders and all stakeholders alike.

“Partnering with Lobe would be an exciting development for the Company as it marks another step towards becoming a viable industry provider of API grade psilocybin,” stated Joel Shacker, CEO of Core One Labs.

“Additionally, Lobe’s Nasal Mist Device intellectual property would provide the Company access to new patent-pending delivery methods and future revenue streams for our biosynthesized psilocybin upon completion of product development and testing stages,” added Shacker.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic-assisted psychotherapy. 

Core One Labs Inc. (COOL) is down 2.06 per cent and is trading at C$0.95 at market close.

More From The Market Herald
Red Light Holland - Partner, Wiz Khalifa.

" Red Light Holland (CSE:TRIP) partners with Wiz Khalifa

Red Light Holland (TRIP) and rapper Wiz Khalifa will launch Mistercap, a new psilocybin brand.

" Psyched Wellness (CSE:PSYC) to remain ‘CALM’ during first pilot production run

Psyched Wellness Ltd. (PSYC) initial pilot production run for its first-to-market AME-1 product, ‘Calm’ is scheduled for July 7.
Red Light Holland - CEO, Todd Shapiro.

" Red Light Holland (CSE:TRIP) updates plan to enter Oregon’s psilocybin market

Red Light Holland (TRIP) has released its updated plan to enter Oregon’s psilocybin market.

" Mindset (CSE:MSET) announces psychedelic drug research collaboration with CAMH

Mindset Pharma (MSET) has announced a research collaboration with the Centre for Addiction and Mental Health (CAMH), a psychiatric research hospital in Toronto.