Pure Extracts Corp

Pure Extracts develops and delivers white-label formulations to service contract sales. They provide white label solutions, from custom formulating oils to sourcing both cannabis and hemp biomass to designing and manufacturing consumer-ready packaging for their customers.

<div><p>Ontario-based Pure Extracts Corp is an extraction company specialized in cannabis, hemp, and mushroom products. Although its main focus is on the cannabis market, the company has announced plans to focus on the emerging psychedelic market. The company has a 10,000 sq ft facility built for licensed extraction. In December 2020, it applied for a Dealer&rsquo;s Licence from Health Canada which will allow the company to procure psychedelic mushrooms for research, manufacturing, sale, and export. The company has also commenced a build-out of a new facility to focus on psilocybin extraction. Pure Extracts went public on the Canadian Securities Exchange (CSE) in November 2020.</p></div>

Promising research and receding stigma are giving investors cannabis-boom flashbacks.

Psychedelic Medicine

<div>
  <p>
    Ontario-based Pure Extracts Corp is an extraction company specialized in cannabis, hemp, and mushroom products. Although its main focus is on the cannabis market, the company has announced plans to focus on the emerging psychedelic market. The company has a 10,000 sq ft facility built for licensed extraction. In December 2020, it applied for a Dealer&rsquo;s Licence from Health Canada which will allow the company to procure psychedelic mushrooms for research, manufacturing, sale, and export. The company has also commenced a build-out of a new facility to focus on psilocybin extraction. Pure Extracts went public on the Canadian Securities Exchange (CSE) in November 2020. 
  </p>
</div>


<div>
  <p>
    Canadian biotech firm Core One Labs maintains three primary business operations: 1) developing novel delivery systems for psychedelic medicines, 2) psilocybin manufacturing, and 3) medical clinics to provide psychedelic-assisted psychotherapy. The company has developed proprietary technology with infused strips that dissolve immediately when placed in the patient&rsquo;s mouth to deliver molecules with a higher level of bioavailability. The company plans to advance this technology to incorporate psychedelic molecules, particularly psilocybin.&nbsp;
  </p>
  <p>
    Core One Labs also claims it has discovered a patentable method of producing high-quality psilocybin, which it may license to pharmaceutical companies. Additionally, the company has two psychedelic clinics in Vancouver that currently support clinical trials and maintain a database of more than 275,000 patients. Core One Labs is listed on the Canadian Securities Exchange (CSE) and OTC markets. The company acquired Vocan Biotechnologies and Akome Biotech in May 2021 for undisclosed amounts. Akome is developing a patent-pending psychedelic drug formulation for the treatment of Alzheimer&rsquo;s Disease.&nbsp;
  </p>
  <p>
    In 
    <a href="https://sp-edge.com/updates/9249">
      <u>March 2022</u>
    </a>
    , the company announced plans to sellout to a large pharmaceutical company, reportedly due to the company&rsquo;s worsening working capital position and shrinking investor capital in the market. 
  </p>
</div>


Core One Labs

<div>
  <p>
    Vancouver-based Lobe Sciences (formerly GreenStar Biosciences) is a biotechnology company developing psychedelic medicines (microdose applications) and medical devices for efficient drug delivery. The company&rsquo;s main focus is the treatment of mild traumatic brain injury and post-traumatic stress disorder (PTSD). It is also conducting early studies on psilocybin combined with N-acetylcysteine (NAC), and MDMA combined with NAC as a treatment. Lobe is also developing a patent pending nasal mist transducer device for the delivery of medicines directly to the brain&rsquo;s olfactory bulb.&nbsp;
  </p>
  <p>
    In June 2020, Lobe acquired Eleusian Biosciences, a company focused on the development of psychedelic medicine which expanded its intellectual property portfolio with three US patent applications for psychedelic therapeutics. Lobe is also collaborating with the University of Miami&rsquo;s Miller School of Medicine to conduct preclinical studies. After its restructuring and name change, the company started trading on the Canadian Securities Exchange (CSE) in November 2020.
  </p>
  <p>
  </p>
</div>


Lobe Sciences

<div>
  <p>
    Cybin is a psychedelic biotechnology company developing treatments for psychiatric and neurological conditions. Through its Serenity Life Science division, Cybin conducted Phase II of clinical trials on using psilocybin to treat major depressive disorder. Additionally, the company's Nature's Journey division focuses on creating non-psychedelic medicinal and nutraceutical mental health products.
  </p>
  <p>
    Cybin is actively building a patent portfolio, including chemically-synthesized compounds, delivery mechanisms, protocols, and new drug formulations. It has also filed an International Patent Application through the Patent Cooperation Treaty, potentially covering 153 countries.&nbsp;
  </p>
  <p>
    In July 2023, the company announced 
    <a href="https://sp-edge.com/updates/20076">
      <u>EMBARKCT, </u>
    </a>
    a streamlined version of its EMBARK training program for pivotal studies of lead candidates, CYB003 for major depressive disorder and CYB004 for generalized anxiety disorder, respectively. In 
    <a href="https://sp-edge.com/updates/27577">
      <u>March 2024</u>
    </a>
    , the company received a breakthrough designation from the FDA for CYB003, and expects to initiate Phase III clinical trials for the program by mid-2024.
  </p>
  <p>
    Cybin implements an M&amp;A strategy to grow in the psychedelic industry. It did a reverse takeover of Charmin in June 2020, raising CAD 45 million (USD 35.5 million) for clinical studies. It acquired Adelia Therapeutics in December 2020, adding novel treatments and patent applications. Also in 
    <a href="https://sp-edge.com/updates/21335">
      <u>August 2023 </u>
    </a>
    it acquired 
    <a href="https://sp-edge.com/companies/470858">
      <u>Small Pharma </u>
    </a>
    in an all-share transaction to strengthen its psychedelic portfolio.&nbsp;
  </p>
  <p>
    <b>Key customers and partnerships&nbsp;</b>
  </p>
  <p>
    In July 2020, Cybin expanded its operations and research activities in the European region via research partnerships and transferred its intellectual property assets to its fully-owned Irish subsidiary (formed in May 2021). In July 2023, the company partnered with 
    <a href="https://sp-edge.com/updates/20455">
      <u>Worldwide Clinical Trials</u>
    </a>
     to develop new psychedelic-based treatment options for mental health conditions, including major depressive disorder. Further, in September 2023, the company partnered with 
    <a href="https://sp-edge.com/updates/22180">
      <u>Fluence</u>
    </a>
     to support Cybin's EMBARK facilitator training program.
  </p>
  <p>
    <b>Funding and financials</b>
  </p>
  <p>
    Founded in 2019, Cybin is listed on the NEO exchange under the ticker symbol &ldquo;CYBN&rdquo; and was uplisted to the NYSE American Stock Exchange in July 2021 under the same symbol. In March 2024, the company raised USD 150 million via a private placement offering led by Deep Track Capital. The funds were allocated towards Phase III clinical trials for CYB003 and working capital and general corporate purposes.&nbsp;
  </p>
  <p>
    For FY2023, the company reported a decrease in net loss by 29.7% YoY to CAD 47.5 million (USD 35 million).
  </p>
</div>


Cybin

<div>
  <p>
    Canadian cannabinoid-based therapeutics company Xphyto Therapeutics announced in November 2020 that it has expanded its drug development program to incorporate a number of psychedelic compounds. This includes substances such as psilocybin, mescaline, LSD, MDMA, and DMT. Xphyto&rsquo;s initial focus is on developing standardized drug formulations with efficient delivery mechanisms for therapeutic use.
  </p>
</div>


Xphyto Therapeutics

Companies supplying psychedelic compounds through cultivation, chemical synthesis and biosynthesis for medical research and drug development.

Pure Extracts Corp

Psychedelic Medicine

Key stats

Company Brief

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless