A Canadian psychedelic drug manufacturer has been granted a new license from Health Canada. And it means they’re about to start exporting MDMA and psilocybin capsules to Australia.
What’s happening:
- Optimi Health (CSE:OPTI) has been awarded a Drug Establishment License from Health Canada which enables them to legally manufacture and sell both psilocybin and MDMA capsules
- The new approval from Health Canada will accelerate Optimi being able to export MDMA and psilocybin capsules to Australia for patients who have been prescribed psychedelic medicines
Why it matters:
- Psychedelic medicines have been making new regulatory strides, with Cybin (NYSE: CYBN) and MindMed (NASDAQ: MNMD) both recently receiving Breakthrough Therapy designations from the FDA for novel psychedelic compounds
- The FDA also previously granted Priority Review status to Lykos Therapeutics to accelerate a formal decision on whether or not MDMA will be approved as a therapeutic treatment for Post Traumatic Stress Disorder in the United States
Going deeper:
- Australia previously approved new policies which allow individuals with Post Traumatic Stress Disorder and Treatment Resistant Depression to be legally prescribed MDMA and psilocybin for therapeutic treatments
- Optimi is already currently supplying non-profit Mind Medicine Australia with MDMA and psilocybin capsules for patients
The intrigue:
- Incannex Healthcare (NASDAQ: IXHL) previously launched the first ever clinic in Australia dedicated to psychedelic assisted therapies and treatments
