Additional lab facility and federal licence
application add expanded contract services to portfolio
VANCOUVER, BC, Oct. 8, 2021 /CNW/ - Numinus Wellness
Inc. ("Numinus" or the "Company") (TSXV: NUMI), a leader
in psychedelics-focused mental healthcare, is pleased to announce
the expansion of its psychedelics research facility with an
additional lab and application for federal licensing, as it
continues to broaden its services to support industry research and
production while adding new revenue streams. As previously
announced in a news release dated March 9,
2021, the expanded lab is housed in an existing
Numinus-leased building adjacent to the current lab.
Numinus Bioscience, the Company's research vertical and a
provider of contract services, has submitted its application to
Health Canada for its second Dealer's License, for an additional
7,500 square feet. This facility will double the size of Numinus'
research footprint and is slated for completion in Summer 2022.
The new space will be dedicated to the following services:
- Bioanalytical testing,
- Bioassay and in-vitro studies,
- Research & development and formulation studies for several
psychedelic compounds, including ketamine and LSD, and,
- Small batch manufacturing.
The site design and application include a Level 7 security
directive that permits expanded import, storage and distribution
capabilities along with long-term stability studies for multiple
products. Together, these services present significant new revenue
drivers through opportunities for short-term and long-term
partnerships with other industry stakeholders. Numinus already
provides services to several psychedelics organizations for
analytic testing, product development and ancillary services.
"As the psychedelics industry grows, supply of clinical-grade
materials and access to qualified research facilities and talent
are increasingly becoming bottlenecks. Numinus Bioscience addresses
this need by offering services and partnership opportunities that
leverage our federal licence, expertise and state-of-the-art
facility," said Sharan Sidhu,
Numinus' Science Officer and General Manager.
The existing space will be dedicated to cultivating fungal
starting materials such as Psilocybe mushrooms, and studying
additional, currently under-researched, psychedelic botanicals.
Already available and operating through its existing Health Canada
licence and lab, the current site will expand its capabilities in
extraction research, optimization and genomics for a variety of
psychedelic materials. It will also continue to develop its
verified Psilocybe tissue culture bank. These assets, along
with provision of raw materials, finished dosages and regulatory
support, will help industry stakeholders advance their initiatives
in clinical and benchtop research.
To date, Numinus Bioscience has developed standardized
analytical methods for psilocybin, psilocin, baeocystin,
norbaeocystin, tryptophan, norpsilocin, aeruginascin, ketamine,
LSD, MDMA and mescaline. The suite of testing services available
also includes contaminant and impurity testing. Through ongoing
optimization work, Numinus has also published a High Performance
Liquid Chromatography (HPLC) Column Application technical note with
Imtakt Corp.: "High Resolution Accurate Mass (HRAM) Analysis of
Magic Mushroom Psychedelics", highlighting both companies'
commitment to innovation and rigorous methodologies.
"With our established lab expertise and expanded service
offering, we are addressing the industry's research and supply
needs while increasing our revenue streams to drive further growth.
We will continue to invest in key infrastructure like our lab as we
advance our integrated model in a thoughtful and sustainable
manner," said Payton Nyquvest,
Numinus' Founder & CEO. "As industry leaders, we recognize it
is essential to leverage our assets to support allied groups in
order to achieve our mission of increasing accessibility in mental
healthcare."
About Numinus
Numinus Wellness (TSXV: NUMI) helps
people to heal and be well through the development and delivery of
innovative mental health care and access to safe, evidence-based
psychedelic-assisted therapies. The Numinus model - including
psychedelic production, research and clinic care - is at the
forefront of a transformation aimed at healing rather than managing
symptoms for depression, anxiety, trauma, pain and substance use.
At Numinus, we are leading the integration of psychedelic-assisted
therapies into mainstream clinical practice and building the
foundation for a healthier society.
Learn more at www.numinuswellness.com and follow us on
LinkedIn, Facebook, Twitter, and Instagram.
Forward-looking statements
This press release contains forward-looking statements within
the meaning of applicable securities laws. All statements that
are not historical facts, including without limitation, statements
regarding future estimates, plans, programs, forecasts,
projections, objectives, assumptions, expectations or beliefs
regarding future performance are "forward-looking
statements". Forward-looking statements can be identified by
the use of words such as "expects", "does not expect", "is
expected", , "intends", "anticipates", "does not anticipate",
"believes" or variations of these words, expressions or statements,
that certain actions, events or results "may", "could", "would",
"might" or "will be" taken, will occur or will be
realized. Such forward-looking statements involve risks,
uncertainties and other known and unknown factors that could cause
actual results, events or developments to differ materially from
the results, events or developments expected and expressed or
implied in such forward-looking statements. These risks and
uncertainties include, but are not limited to, dependence on
obtaining and maintaining regulatory approvals, including the
acquisition and renewal of federal, provincial, municipal, local or
other licenses, and any inability to obtain all necessary
government authorizations, licenses and permits to operate and
expand the Company's facilities; regulatory or policy changes
such as changes in applicable laws and regulations, including
federal and provincial legalization, due to fluctuations in public
opinion, industry perception of integrative mental health,
including the use of psychedelic-assisted therapy, delays or
inefficiencies or any other reason; any other factor or
development likely to hamper the growth of the market; the
Company's limited operating and profitability track
record; dependence on management; the Company's need for
additional financing and the effects of financial market conditions
and other factors on the availability of
capital; competition, including that of more established
and better funded competitors; the continued impact of the
COVID-19 pandemic; and the need to build and maintain alliances and
partnerships, including with research and development companies,
customers and suppliers. These factors should be carefully
considered, and readers are cautioned not to place undue reliance
on forward-looking statements. Despite the Company's efforts
to identify the main risk factors that could cause actual measures,
events or results to differ materially from those described in
forward-looking statements, other risk factors may cause measures,
events or developments to materially differ from those anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in forward-looking statements. The Company does
not undertake to revise forward-looking statements, even if new
information becomes available as a result of future events, new
facts or any other reason, except as required by applicable
laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
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SOURCE Numinus Wellness Inc.