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Numinus Wellness plans expansion of psychedelics research laboratory

It said the 7,500 square foot expansion will "enhance our IP and partnerships strategy, generate more revenue through analytics testing for psychedelics and other contract services, and increase our supply of consistent, safe and effective psychedelics"

Numinus Wellness Inc. - Numinus Wellness plans expansion of psychedelics research laboratory
The expansion is planned to be completed by late 2021

Numinus Wellness Inc (CVE:NUMI) (FRA:LR23) said it is planning to significantly expand its psychedelics research laboratory by late 2021. 

The psychedelic-focused healthcare and research company said a 7,500 square foot expansion will be developed and housed in an existing leased building adjacent to the current lab.  

WATCH: Numinus research takes big step forward after receiving new amendments to their licensing

Numinus said the expansion followed receipt of amendments to its federal license under Canada's Controlled Drugs and Substances Act to allow the possession, production, assembly, sale, export, and/or delivery of a variety of psychedelics including Ketamine, LSD, Mescaline, N,N-Dimethyltryptamine (DMT), N-Methyl-3,4, methylenedioxyamphetamine (MDMA), Psilocin and Psilocybin.1.

"Our investment in an expanded lab marks a key milestone for Numinus and provides the necessary foundation for therapeutics development and research infrastructure to advance psychedelic-assisted psychotherapy in Canada and around the world," said Sharan Sidhu, science officer and general manager for Numinus Bioscience, the company's laboratory division.

"When complete, the facility will enhance our IP and partnerships strategy, generate more revenue through analytics testing for psychedelics and other contract services, and increase our supply of consistent, safe and effective psychedelics for clinical use and trials undertaken by academic, not-for-profit and for-profit entities", Sidhu added.

The company added that the expanded facility will accelerate the current lab’s work in areas such as Psilocybe mushroom cultivation and extraction, formulation studies, and a genotypically verified spore bank and tissue culture library. The expansion will also add several psychedelic substances and capabilities to contract lab services, increase capacity for high-throughput psychedelics testing, and enhance research and development activities in a wide array of psychedelics.

Numinus also said the current lab facility recently took possession of next-generation analytical equipment, including an Orbitrap Exploris 120 Mass Spectrometer, a state-of-the-art high-resolution mass spectrometry instrument that supports research to optimize the cultivation, harvest, and extraction of Psilocybe mushrooms and implement discovery of unknowns and interactions in several psychedelic botanicals in addition to mushrooms.

The company said the lab is expected to also receive additional instrumentation, representing a $1.2 million investment, to support innovation and development of intellectual property related to Psilocybe mushrooms and standardized test methods for a range of psychedelics.

Contact the author at calum@proactiveinvestors.com

Follow him on Twitter @Cal_Proac

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