Core One Labs nears commercial mushroom production in Canada

A Canadian biotech company says it is ready to begin commercial production of psilocybin mushrooms. Vancouver-based Core One Labs Inc. is “slated to begin commercial production of its clinical-grade psilocybin in a Good Manufacturing Practices (GMP) facility in January 2023,” according to Benzinga.

The outlet reported that the company’s chief executive officer, Joel Shacker, “states that the company is on track with the initial stages of testing its commercial capabilities for high quality psilocybin.”

“We anticipate positive results in terms of Core One’s commercial capabilities and rapid commercialization of our products; a milestone that we expected to attract potential investors and delight our current shareholders,” Shacker said.

In October, Core One announced that it is “approaching Good Manufacturing Practices (GMP) production of its psychedelic compounds as the company has advanced its negotiations with a certified facility and is developing a detailed plan to properly provide high quality and affordable psychedelic medicine licensed clinics and distributors.”

The company said at the time its goal was to “develop pharmaceutical-grade psychedelic products for patients to treat a range of conditions, including anxiety, depression, addiction, Parkinson’s and other mental and neurological disorders.”

“By partnering with a GMP manufacturing facility, our plan is to start manufacturing psychedelic compounds and bring them into an easy-to-take format for patients like capsules. This can be done for Core One’s proprietary API-grade psilocybin, as well as other compounds the company has tested. As Core One’s drug pipeline advances, we plan to develop our own drug formulations that can also be manufactured in these GMP facilities,” the company said in the October announcement. “GMP is a pillar of the quality assurance process designed to ensure that products are manufactured in a consistent manner that meet or exceed prescribed safety and quality standards.”

Benzinga reports that in addition to beginning psilocybin production next month, Core One “intends to advance market production of its other psychedelic Active Pharmaceutical Ingredient (API) with a view to eventually manufacturing and distributing them to licensed medical clinics and professionals, researchers and treatment development companies.” to deliver to all over the world Canada and other countries too.”

The company “through its subsidiary Vocan Biotechnologies has developed a novel psilocybin production system and has filed a patent for a novel psilocybin production system using genetically engineered bacteria,” in addition to already having “four provisional patents covering the development of pharmaceutical formulations based on psychedelics- base targeting neurological and mental health disorders under its subsidiary Akome Biotech, and three provisional patents for additional synthesis technologies for psilocybin and psilocin production methods under its subsidiary Awakened Biosciences.”

The company’s moves come at a time when Canadian executives are reviewing laws and regulations regarding psilocybin. In October, the province of Alberta began regulating the use of psychedelics by people in therapy, a first for a Canadian jurisprudence and a decision that Core One called “groundbreaking.”

“Alberta’s new regulations would require medical directors to apply for a license before treating patients with psychedelics for mental health disorders. According to the regulations, which will come into force in January 2023, a psychiatrist would have to oversee every treatment. Healthcare professionals could not charge money for the drugs, and a qualified professional can only give the drug to patients in a medical facility – unless the person is in palliative care,” the company said in October. “This significant step being taken by a Canadian government agency is groundbreaking and the company sees it as the beginning of a complete paradigm shift in Canada.”