XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT), a bioscience technology accelerator, raised eyebrows when it announced that XPhyto Laboratories Inc., its Alberta subsidiary, added mescaline production to its psychedelic medicine development programs earlier this year (https://cnw.fm/uyuRo). Mescaline has begun attracting legislative attention, much like was the case with cannabis, which gained widening legalization as state after state approved varied uses of hemp and cannabis within their political boundaries. Recently, California Senator Scott Wiener introduced a bill that would decriminalize select hallucinogenics, including mescaline, in part due to research from top medical universities indicating that such substances can have significant benefits for treating mental health and substance use disorders. “The bill passed the Senate Health Committee by a vote of 6-1 on April 14 and will now be reviewed by the Senate Appropriations Committee,” reads a recent article. “We see a significant market opportunity in the production of pharmaceutical mescaline and the standardization of dosage formulations with precise, predictable and efficient drug delivery for clinical study and therapeutic use,” XPhyto CEO and Director Hugh Rogers said in the company’s announcement. “Our goal is to develop industrial scale production processes for the wholesale market and for incorporation into XPhyto’s thin film drug delivery platforms.”
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About XPhyto Therapeutics Corp.
XPhyto Therapeutics is a bioscience accelerator focused on next-generation drug delivery, diagnostic and new active pharmaceutical ingredient investment opportunities. These include precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets. For more information about the company, visit www.XPhyto.com.
NOTE TO INVESTORS: The latest news and updates relating to XPHYF are available in the company’s newsroom at https://cnw.fm/XPHYF
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