After a successful commercial production trial, life sciences biotech company Core One Labs Inc. (OTCQB:CLABF) is set to begin commercial production of its clinical-grade psilocybin at a Good Manufacturing Practices (GMP) facility in January 2023.
In addition to psilocybin, the company intends to advance market production of its other Active Pharmaceutical Ingredient (API) psychedelic compounds towards eventually manufacturing and supplying them to licensed medical clinics and professionals, researchers and treatment development companies across Canada and other countries as well.
CEO Joel Shacker explained that the company is on course with the initial phase of testing its commercial capabilities for high-grade psilocybin.
"We anticipate positive results regarding Core One's commercial capabilities and quickly moving towards commercialization of our products; a milestone we anticipated will attract potential investors and please our current shareholders," Shacker stated.
Core One has developed and filed a patent for a novel psilocybin production system using engineered bacteria through its subsidiary company Vocan Biotechnologies. The company already holds four provisional patents for the development of psychedelic-based pharmaceutical formulations that target neurological and mental health disorders under its subsidiary Akome Biotech as well as three provisional patents for additional synthetic technologies for psilocybin and psilocin production methods under subsidiary Awakened Biosciences.
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