The Agreement will utilize HAVN Life’s fully integrated supply chain model, from the growing of psilocybin through to extraction, compounding, and encapsulation
Vancouver, BC – HAVN Life Sciences Inc. (CSE: HAVN) (OTC: HAVLF) (FSE: 5NP) (the “Company” or “HAVN Life”), a biotechnology company pursuing standardized extraction of psychoactive compounds and the development of natural healthcare products, is thrilled to announce it has entered into a supply agreement (the “Supply Agreement”) with Allied Health (OTCQB: ALID), an innovator in the cannabis and psychedelics space, integrating medical research, cultivation and processing, and proprietary products and natural health product distribution.
Allied Health is in the process of developing Psilonex™ RX Capsules, a proprietary formulation of psilocybin, cordyceps, lion’s mane, vitamin B, and other ingredients that will be available to their patient cohort, including more than 300 veterans, police, fire, and ambulance personnel struggling with PTSD and related mental health issues. Allied Health is currently seeking a Section 56 special access exemption for their patient cohort for the use of Psilonex™ RX Capsules, with continued research and data gathering planned for future product development.
“We are beyond excited to welcome Allied Health to our growing list of supply partners,” says HAVN Life CEO, Tim Moore. “With a supply partner roster that includes Revive Therapeutics, The Heroic Hearts Project, Health Tech Connex, ATMA and now Allied Health, we are demonstrating industry support in our business model as an end-to-end supply chain for psychedelic compounds. With plans underway to have our Vancouver facility fully licenced and operational in the near future, this new aspect of production will be a tremendous revenue opportunity for us,” he adds.
Pursuant to the Supply Agreement, Allied Health will have access to the Company’s full range of psychedelic compounds and APIs, cultivated at the Company’s facility in Jamaica, which opened this May. This Supply Agreement is a major milestone, marking the completion of HAVN Life’s vision of a fully integrated supply chain model, from the growing of psilocybin, through to extraction, compounding and finally to encapsulation.
Allied Health’s decision to use naturally derived psilocybin in their Psilonex™ RX Capsules underscores the growing patient preference for plant-based products over synthetic ones. By partnering with another industry innovator, HAVN Life further consolidates its position as an integral supply chain provider in respect of naturally-derived psychedelics for clinical providers and researchers around the globe.
With the recent news that California is moving toward decriminalizing psychedelics through Senate Bill 519 – Controlled substances: decriminalization of certain hallucinogenic substances, the growing demand for clinical and therapeutic use of psychedelic compounds is undeniable, and highlights HAVN Life’s unique position as a source of safe and standardized products.
Any transactions to be completed pursuant to the Supply Agreement, including any supply of psilocybin thereunder, will be subject to compliance with any and all applicable laws and regulations, including those of Health Canada.
On Behalf of The Board of Directors
Chief Executive Officer
About HAVN Life Sciences Inc.
HAVN Life Sciences is a Canadian biotechnology company pursuing standardized extraction of psychoactive compounds, the development of natural health products, and innovative mental health treatment to support brain health and enhance the capabilities of the mind. Learn more at: havnlife.com and follow us on Facebook, Twitter, Instagram and Youtube.