The Agreement allows HAVN Life to export naturally derived psilocybin from its Jamaica facility and grows roster of supply partners in the U.S. market
Vancouver, BC – HAVN Life Sciences Inc. (CSE: HAVN) (OTC: HAVLF) (FSE: 5NP) (the “Company” or “HAVN Life”) a biotechnology company pursuing standardized extraction of psychedelic compounds for investigational research as potential APIs to support brain health and cognitive function, is thrilled to announce its entry into an exclusive U.S. Distribution Agreement (the “Exclusive Distribution Agreement”) with California-based Mycrodose Therapeutics Inc. (“Mycrodose”), a leading pharmaceutical company in the U.S. specializing in the research and development of advanced drug delivery systems utilizing DEA Schedule I, II and III drugs and other compounds aimed at treating cancer related conditions, mental health, and cognitive degenerative diseases.
HAVN Life and Mycrodose have entered into the Exclusive Distribution Agreement to facilitate the import of HAVN Life’s naturally derived GMP psilocybin into the United States for authorized research purposes. The Exclusive Distribution Agreement allows HAVN Life & Mycrodose to provide naturally derived GMP psilocybin to research institutions/researchers within the U.S. at competitive prices, which should assist with alleviating the supply chain issues currently facing researchers who are unable to find GMP psilocybin at an affordable price.
“HAVN Life is kicking off 2022 with strong partnerships in both our research and retail divisions, and we are very excited to start fulfilling purchase orders for our research customers with our new U.S. distribution partner, Mycrodose Therapeutics,” says HAVN Life CEO, Tim Moore. “We’ve been working closely with Chad and his team, and are excited about the potential of this partnership.”
Mycrodose is one of only a handful of pharmaceutical companies that has been authorized by the United States Drug Enforcement Agency (“DEA”), State of California Attorney General’s Research Advisory Board, and The Food & Drug Administration (“FDA”) to import and research six (6) Schedule I, II and III compounds. In December 2021, Mycrodose added a Schedule I Import license which allows the import of Schedule I psilocybin and psilocin.
DEA import authorization gives Mycrodose the ability to import the controlled substance of psilocybin and psilocin for clinical trials, research and development, analytical purposes, and distribution to its clients for authorized research purposes.
“Our company’s proven ability to navigate the meticulous details required for approval by the DEA and FDA for these very difficult licenses has directly contributed to Mycrodose’s ability to lead the U.S.-Pharmaceutical sector working with these highly controlled-substances here in the United States,” says Chad Conner, Chief Executive Officer of Mycrodose Therapeutics. “This distribution partnership with HAVN Life increases access and the ease of obtaining GMP psilocybin for any U.S.-based research institution, university, or private biotech company working with this Schedule I compound. Mycrodose is dedicated to advancing research within this sector and this is one of many ways that we are helping,” he adds.
The interest and demand for psilocybin research in the United States has grown significantly in 2021 and continues to outpace supply in 2022. Recently the Drug Enforcement Agency (DEA) again increased the quota for psilocybin research in the U.S. HAVN and Mycrodose have already successfully completed a first purchase order and delivery of naturally derived GMP raw psilocybin mushrooms from Jamaica into the United States, and Mycrodose is actively handling new enquiries from approved DEA licensed institutions and research organizations.
HAVN Life’s operations in Jamaica are facilitated by strategic partnerships with Hypha Wellness and P.A. Benjamin Manufacturing Company to provide cultivation and processing facilities for psilocybe mushrooms.
For more information on obtaining naturally derived GMP psilocybin contact Mycrodose Therapeutics at www.MycrodoseThera.com
On Behalf of The Board of Directors
Chief Executive Officer
About HAVN Life Sciences Inc.
HAVN Life Sciences is a biotechnology company pursuing standardized extraction of psychedelic compounds for investigational research as potential APIs, the development of natural health products, and innovative therapies to support brain health and enhance the capabilities of the mind.
Through its research division, HAVN Labs, the company has developed an end-to-end supply chain of standardized, naturally derived psychedelic compounds for investigational research in an effort to define the future of modern medicine. HAVN Life offers a full range of high-quality mushroom and plant extracts that help support immune function and support a healthy lifestyle.
About Mycrodose Therapeutics
Mycrodose Therapeutics Inc. is a U.S.-Based pharmaceutical company headquartered in San Diego, California specializing in the development of advanced drug delivery systems utilizing DEA Schedule I-III drugs and other compounds to treat cancer related conditions, mental health, and cognitive degenerative diseases. The company believes that its IP-Protected Sustained Microdosing Technology™ is a smarter and safer approach to delivering pharmaceutical compounds to patients of all ages and allows for an expandable and scalable business model.
Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Exclusive Distribution Agreement, Mycrodose’s business, products and future of Mycrodose’s business and the Company’s business, products and future of the Company’s business. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the anticipated benefits from the Exclusive Distribution Agreement will not be realized as contemplated, or at all, risks that Mycrodose’s products and plan will vary from those stated in this news release and Mycrodose may not be able to carry out its business plans as expected and risks that the Company’s products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The statements in this news release are made as of the date of this release.
The CSE has not reviewed, approved or disapproved the content of this press release.