Psygen Industries Ltd. Announces Export of LSD to New Zealand and Completion of MDMA Development Program

April 19, 2023 4:46 PM EDT | Source: Psygen Industries Ltd.

Calgary, Alberta--(Newsfile Corp. - April 19, 2023) - Psygen Industries Ltd. (together with its subsidiaries, "Psygen") is pleased to announce that its wholly-owned subsidiary, Psygen Labs Inc., completed manufacture of more than 1.5 million microdoses of lysergic acid diethylamide ("LSD"). A portion of the LSD has been exported to New Zealand for use in a ground-breaking Phase II clinical trial sponsored by MindBio Therapeutics ("MindBio"). MindBio's clinical trial will provide Psygen's LSD to participants suffering from major depressive disorder for outpatient LSD microdosing in the context of normal daily routines - a first for modern LSD clinical trials.

"MindBio's LSD research program holds significant promise for the future of microdose therapies and mental health. Pysgen is proud to be the manufacturer of choice for this medicine that we care so deeply about - discovered eighty years ago today," said Danny Motyka, CEO of Psygen. "LSD is the second API that Psygen has released to the clinical research market after psilocybin, with MDMA and other APIs in Psygen's development pipeline."

Psygen is also excited to announce completion of its MDMA development program, including an improved synthetic method. Psygen's operations team is on track to complete GMP validation of MDMA production during the second quarter of 2023. Psygen's MDMA is slated for use as an API in clinical and scientific research around the world. Psygen expects its GMP MDMA will also be available for use in Canada's special access program or other compliant access programs outside of clinical trials.

"In light of the proliferation of trauma across the globe, Psygen is proud to help improve global access to medicines that have tremendous potential to heal trauma and inspire creativity. We believe these medicines will play a key role in resolving principal mental health problems facing humanity," says Peter van der Heyden, co-founder and Director of Psygen.

At its Calgary facility, Psygen's operations team will advance commercial GMP manufacturing capabilities through validation of synthetic methods for additional psychedelic APIs, as authorized by Psygen's dealer's licence issued by Health Canada. Psygen's goal is to provide high-quality, sustainable, and competitive Canadian-made medicines for the world.

Psygen and its team wish everyone a safe and insightful Bicycle Day.

About Psygen

Psygen is a privately-held licensed dealer and active pharmaceutical ingredient ("API") manufacturer based in Calgary, Alberta. Psygen's dealer's licence authorizes possession, manufacture, sale, import, export and otherwise dealing with LSD, MDMA, psilocybin, psilocin, DMT, 2C-B and mescaline. Psygen is positioned to be a leader in manufacturing and sale of synthetic psychedelic APIs for healing and wellness in compliance with applicable laws. Psygen manufactures pharmaceutical-grade psychedelic drug substances in accordance with GMP for clinical research and other therapeutic applications. Psygen's APIs have been sold to, and used by, drug development companies, academic institutions and other authorized persons domestically and internationally.

Psygen consists of a team of industry and business experts with over 50 years of direct experience in manufacturing psychedelics. Psygen's team has experience synthesizing an industry-leading variety of psychedelic compounds, including experience manufacturing LSD, psilocybin and MDMA at scale. Psygen's licensed facility is Canada's first dedicated synthetic psychedelics manufacturing facility with authorization for the synthesis of a variety of psychedelic drugs for clinical research and approved therapeutic applications.

For more information, please contact:

Psygen Industries Ltd.
Danny Motyka, CEO
Telephone: 403-809-6205


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