MIAMI, March 17, 2022 (GLOBE NEWSWIRE) — Mycotopia Therapies Inc. (OTC Pink: TPIA) (the “Company”), a biopharma company focused on research, technology, and the development of medical psychedelics, announced today plans to expand its supply agreement with Havn Life Sciences (CSE: HAVN) (OTC Pink: HAVLF) to include functional mushrooms, which refers specifically to varieties of mushrooms that have a health benefit beyond providing nutrition. The terms of the original agreement call for Havn Life Sciences to supply Mycotopia Therapies with naturally-derived psilocybin. Under the terms of the agreement, Mycotopia Therapies is classified as a specialty pharmaceutical company focused on the research, development, and commercialization of novel therapeutics for unmet needs.
Under the terms of the existing agreement, Mycotopia Therapies is building a distribution channel to supply naturally-derived psilocybin compounds, in accordance with al federal laws and local protocols, to universities, researchers and companies. The expanded agreement Mycotopia Therapies provides Mycotopia Therapies with the opportunity to distribute functional mushrooms, as well as the white label supply and distribution of HAVN’s line of natural OTC health products currently being registered with the Jamaican Ministry of Health (MOH). Jamaica’s Ministry of Health is the pre-eminent Government organization whose mandate is “To ensure the provision of quality health services and to promote healthy lifestyles and environmental practices.” The Ministry, together with its Regional Health Authorities, Agencies and related organizations make up the public health system and are responsible for health care delivery across the island.
In December 2021 Mycotopia Therapies Inc. announced it had entered into a letter of intent regarding a potential acquisition of botanical psilocybin pioneer, Ei.Ventures. When a definitive agreement is reached, the combined companies intend to pool their resources to develop regulatory approved, plant-derived, psychoactive therapeutic treatment options and non-psychoactive nutritional supplements and related products that address global mental healthcare needs. Upon closing, the company would be renamed PSLY.com to better reflect the Company’s business moving forward.
Mycotopia Therapies is focused on the research, development, and commercialization of novel therapeutics based on naturally-derived psilocybin. Performing most of its research in Jamaica, where psilocybin is legal, Mycotopia Therapies is focused on mushroom and psychedelic opportunities. Ei.Ventures’ flagship botanical psilocybin-based formulation Psilly is a whole-plant botanical psilocybin-based formulation, which is currently in the pre-clinical phase. The goal of the combined companies would be to complete pre-clinical and phase 1 trials and launch therapeutic Psilly into jurisdictions where psilocybin is legal. Ei.Ventures has pioneered using the whole plant and fungi in its botanical formulations, which has the potential to create the “Entourage Effect.” Researchers suggest the Entourage Effect could be key to Psilocybin’s healing properties. The Entourage Effect is a synergistic interaction between two or more different molecules found within the same plant, which is similar to the effects various strains of cannabis has on the end-user.
Ben Kaplan, CEO of Mycotopia Therapies said, “Mushrooms were the second highest growing natural health supplement and are underserviced in the market. This partnership helps support our company’s ambitious product development and R&D milestones by offering a potential alternative to synthetic derived psilocybin at a fraction of the cost.” Mr. Kaplan continued, “Since Havn Life Sciences will supply Mycotopia Therapies with functional mushroom, it helps addresses potential supply chain issues and enables Mycotopia Therapies to get to the distribution and revenue generation phase of our business plan, as we join forces with eI.ventures and form PSLY.com.”
About Mycotopia Therapies
Mycotopia Therapies focuses on helping you heal and reclaim your life. Your journey of healing is an understanding of the causes and works to mental wellness through psychedelic enhanced psychotherapy, integrated with a professional team of mental wellness practitioners and cutting-edge technology. Psychedelic therapy is a holistic and spiritual approach providing healing and has shown successful treatment for many years. Additional information on Mycotopia Therapies can be found on the Company’s website at: https://www.mycotopiatherapies.com.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading “Risk Factors” in 20/20 Global, Inc.’s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC’s website, http://www.sec.gov.
Contact for Mycotopia Therapies
For Media and Investor Relations, please contact:
David L. Kugelman
(866) 692-6847 Toll Free – U.S. & Canada
(404) 281-8556 Mobile and WhatsApp