Pure Psyence, Pure Extracts and the Psyence joint venture will develop treatments derived from psilocybin.
Pure Extracts, an herbal extraction company, and Psyence Group, a biotechnology company specializing in natural psychedelics, announced the formation of a joint venture on September 28, 2021. The new company, Pure Psyence, will develop psilocybin derived from nature. extracts and advanced formulations of psilocybin.
Pure Extracts are known for their full spectrum oil extracts and have experience with cannabis, hemp, functional mushrooms, and psychoactive mushrooms. Their new partner, Psyence, operates one of the world’s first federally licensed commercial psilocybin cultivation and production facilities.
Pure Psyence will be looking to develop long term mental health treatments in the form of psilocybin products. It will leverage Psyence’s supply of psilocybin mushrooms and Pure Extract extraction technologies to produce medicinal mushroom extracts and formulations on a commercial pharmaceutical scale.
“Pure Psyence sits at the intersection of evidence-based science and nature,” Ben Nikolaevsky, CEO of Pure Extracts, said in a company press release. “Pure Psyence researchers, scientists and physicians will now be uniquely positioned to market whole psilocybin fungus in measurable pharmaceutical doses; a first.”
Source: Pure Extracts