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  • Pharmadelic Labs has entered into a 2-year lab services agreement with Numinus Wellness
  • Numinus Wellness will provide Pharmadelic with lab expertise and R&D services
  • Pharmadelic aims to develop a portfolio of intellectual property around biosynthesis pathways using yeast and psilocybin
  • Numinus Wellness has taken an equity position in Pharmadelic
  • EGF Theramed Health Corp. is a consumer technology company engaged in the provision of biomedical services for treating common health problems
  • EGF Theramed Health Corp. (TMED) is up 11.76 per cent, trading at C$0.095 per share at 4:30 pm ET

EGF Theramed (TMED) joint venture partner Pharmadelic Labs has entered into a 2-year lab services agreement with Numinus Wellness (NUMI).

Pharmadelic Labs is a biotech company focused on developing engineering processes for the biosynthesis of compounds, primarily psilocybin.

Through the Health Canada-licensed Numinus Bioscience lab in BC, Numinus Wellness will provide Pharmadelic with lab expertise and R&D services such as analytical, purity and compound identification testing along with regulatory and compliance consulting services.

Pharmadelic aims to develop a portfolio of intellectual property around biosynthesis pathways using yeast and psilocybin.

By editing the genome sequences of industrial brewing yeasts, the company plans to create commercially viable compounds derived from psilocybin.

“The agreement with Numinus accelerates and expands Pharmadelic’s ability to produce valuable intellectual property and increase shareholder value for both Pharmadelic and TMED,” said George Anstey, CEO of Pharmadelic Labs Corp and director of EGF Theramed.

“We look forward to working with Numinus to drive our R&D agenda and create and support the advancement of health and wellness for all.”

Pharmadelic will work with a wide range of partners across multiple industries, starting with pharmaceutical companies creating products for the nascent psychedelics market.

Under Canada’s Controlled Drugs and Substances Act, Numinus Bioscience can possess, produce, assemble, sell, export, and deliver a wide variety of psychedelics including Ketamine, Lysergic acid diethylamide (LSD), Mescaline, N, N-Dimethyltryptamine (DMT), N-Methyl-3,4, methylenedioxyamphetamine (MDMA), Psilocin and Psilocybin.

The laboratory provides analytical and natural product chemists, biochemists, molecular biologists and quality management experts, state-of-the-art equipment and proprietary methods to ensure validated results and finished products.

The specific terms of the two-year agreement are private.

Numinus Wellness has taken an equity position in Pharmadelic. 

EGF Theramed Health Corp. is a consumer technology company engaged in the provision of biomedical services for treating common health problems.

EGF Theramed Health Corp. (TMED) is up 11.76 per cent, trading at C$0.095 per share at 4:30 pm ET.

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