- Optimi Health Corp. (OPTI) enters into a C$1.2 million agreement to focus on developing mushroom-based therapeutic drugs by conducting pre-clinical research and clinical trials
- As part of the agreement, the company is cultivating dried GMP psylocybin-containing biomass and extract into a refined substance
- It will then be distributed to Optimi’s client’s international research sites
- Shares of Optimi (OPTI) are up 15.56 per cent to C$0.25 as of 11:14 a.m. EDT
Optimi Health (OPTI) has notched a C$1.2 million supply agreement with a private company to develop mushroom-based therapeutic drugs.
The company will do so through pre-clinical research and clinical trials. In order to fulfill its obligations, Optimi will cultivate dried GMP psilocybin-containing biomass and extract it into a refined substance.
This will then be distributed to Optimi’s client’s international research sites.
“To be selected as the singular supply entity in the sector capable of scaling to help fulfill the needs of our Client reflects our ability to deliver substantial value to the research community and our shareholder,” Bill Ciprick, CEO of Optimi, said in a release.
The company also said it plans to report its Q2 2023 earnings sometime in the latter half of May.
Optimi Health is a Health Canada-licensed drug manufacturer and formulator to produce and supply psychedelic substances. The company focuses on developing 3,4-MDMA and GMP-grade psilocybin and functional mushrooms for the health and wellness markets.
Shares of Optimi (OPTI) are up 15.56 per cent to C$0.25 as of 11:14 a.m. EDT.
