Source: Creso Pharma
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Creso Pharma’s (CPH) Canadian psychedelics company Halucenex Life Sciences is progressing the company’s first psilocybin mushroom harvest
  • Upgrades to the Halucenex’s state-of-the-art grow room in Nova Scotia is complete, following extensive consultations and discussions
  • The company expects the first harvest will be complete within the next three months, with plans to use for research and development (R&D) and product development initiatives
  • Halucenex has also commissioned and installed a high performance liquid chromatography (HPLC) system which will be used to test the active pharmaceutical ingredients (API) in both synthetic and botanical psilocybe mushrooms
  • CPH shares have ended the day up 5.26 per cent, trading at 6 cents

Creso Pharma (CPH) has given an update on its wholly-owned Canadian psychedelics company Halucenex Life Sciences and its progress on the company’s first psilocybin mushroom harvest.

Creso has reported that upgrades to its state-of-the-art grow room have been completed in its medical facility in Nova Scotia after extensive internal consultations and discussions with partners which is said to lay the foundation for the maiden harvest.

The company installed food-grade washable wall and ceiling panels, as well as commissioned heat and humidity control systems for growing. This allows Halucenex to take the necessary steps towards cultivation.

Creso Pharma expects the first harvest will be complete within the next three months, with plans to use the harvested psilocybe mushrooms for research and development (R&D) and product development initiatives.

Halucenex also commissioned and installed a high performance liquid chromatography (HPLC) system at Nova Scotia, which will be utilised to test the active pharmaceutical ingredients (API) in both synthetic and botanical psilocybe mushrooms.

The HPLC is used to separate, identify and quantify each component in a mixture, and will be used by Halucenex to gain further insights into the API levels, which is said to be an important development.

Managing Director and CEO William Lay said the company has “continued to make very strong, value accretive progress over the course of 2022”.

“[The successful commissioning of the HPLC system] is imperative as we move towards product development and other research initiatives.”

CPH shares closed the day off 5.26 per cent in the green at 6 cents.

CPH by the numbers
More From The Market Herald
The Market Herald Video

" ResApp (ASX:RAP) extends Medgate licence agreement in line with expansion plans

ResApp Health (ASX:RAP) has agreed to a 12 month extension to its commercial licence agreement with…

" Genmin (ASX:GEN) strikes royalty deal with Anglo American over Baniaka project, Gabon

Genmin (ASX:GEN) has struck a royalty agreement with Anglo American's subsidiary, Anglo American Marketing, over the…

" Great Boulder Resources (ASX:GBR) hits “spectacular” intercept at Mulga Bill

Great Boulder Resources (ASX:GBR) has received assays from the final two diamond holes drilled at the…
The Market Herald Video

" Indiana Resources (ASX:IDA) signs native title agreement to unlock exploration at Gawler Craton, SA

Indiana Resources (ASX:IDA) has signed a native title mining agreement with the Antakirinja Matu-Yankunytjatjara Aboriginal Corporation…