Creso Announce To ASX: Creso Pharma completes acquisition of established Canadian psychedelics company Halucenex Life Sciences Inc

Here, according to their press release, are the key points

Highlights:
 Completion of acquisition provides Creso Pharma with access to the emerging global market for psychedelic medicines – estimated to be worth up to US100Bni
 Halucenex to progress phase II clinical trial to test the efficacy of psilocybin when used to treat Post Traumatic Stress Disorder (PTSD)
 PTSD therapeutics market expected to grow to US$10.5Bn by 2025ii
 Additional synergies being explored to position the company to capitalise ahead of proposed merger with Red Light Holland (“RLH”)
 Creso Pharma to leverage expertise of Halucenex and RLH management to expedite product development initiatives, ongoing R&D and potential market entries
 Halucenex’s operation progress continues – USP 61 test protocols complete providing additional validation of psilocybin compounds ahead of Clinical Trial Application
 USP 62 test protocols to test product degradation now underway – expected to be completed in coming weeks
 Halucenex to progress Clinical Trial Application next month, prior to receipt of Controlled Drugs and Substances Dealer’s License from Health Canada in a push to expedite clinical trial process
 COVID-19 has further highlighted mental health effects and the potential for alternative solutions such as Psychedelic assisted therapyiii
 Halucenex will play a crucial role in the proposed Merger between Creso Pharma and RLH in the creation and growth trajectory of The Highbrid Lab
 Further positive updates from Halucenex expected in the short term
 Creso Pharma is now the only ASX listed company, and one of a few globally, operating in Cannabis and Psychedelic R&D and therapies and treatments

 

The full release

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