Psychedelics Strive to Emulate Cannabis' Path to Legality

Psychedelics Strive to Emulate Cannabis' Path to Legality

FinancialBuzz.com News Commentary

PR Newswire

NEW YORK, May 13, 2020

NEW YORK, May 13, 2020 /PRNewswire/ -- CBD products have become more popular and well-known because of their lack of psychoactive effects many associate with cannabis. For example, in a survey conducted by HelloMD and Brightfield Group, approximately 60% out of 2,400 patients said that CBD participants used the compound to successfully treat insomnia or other sleep problems. Meanwhile, 42% percent of CBD users stopped using traditional medications and now use cannabis instead, and 80% of CBD users found CBD be very or extremely effective for treatment. Furthermore, CBD products such as full-spectrum oils also provide additional properties such as essential nutrients. In all, full-spectrum CBD is said to provide consumers with protein, fiber, and essential fatty acids. The oil also contains all 20 amino acids, including the nine essential amino acids that the human body processes on its own. Additionally, the full-spectrum oil contains vitamins A, C, E, and B complex. Yet despite extensive research, the FDA has only approved one cannabis-based drug, Epidolex, which is used to treat epilepsy. Nevertheless, thousands of retailers and ecommerce platforms have already began selling CBD products after the passage of the U.S. Farm Bill in 2018. Now, psychedelic products may follow a similar path to legalization. Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB), Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), Tilray, Inc. (NASDAQ: TLRY), Aphria Inc. (NYSE: APHA) (TSX: APHA), Aurora Cannabis Inc. (NYSE: ACB)  

In recent years, there has been significant new information describing the effects of psychedelic compounds on the brain. For example, data published in the Proceedings of the National Academy of Sciences shows that under the influence of psilocybin, one of such compounds often found in various types of mushrooms, the brain creates a feedback loop of neuron activity and neurotransmitter release (the chemical messengers that neurons use to communicate). According to the study, this provides an understanding of why psilocybin is showing considerable promise as a therapeutic intervention for neuropsychiatric disorders including depression, anxiety, and addiction. "Using this model will be crucial for truly understanding how psilocybin can rebalance neuropsychiatric disorders such as treatment-resistant depression and addiction," Morten Kringlebach, the study's first author and a senior research fellow at the University of Oxford, explains according to Inverse.

Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB) announced breaking news yesterday that, "it has appointed Robert Roscow to the position of Chief Science Officer (CSO). Mr. Roscow previously served as the Director Research of Ebbu, a leading multi-platform cannabinoid research and technology firm based in Colorado, USA. Prior to Ebbu's $429MM acquisition by Canopy Growth, Mr. Roscow's day-to-day operations included running the world's first cannabis genomic editing lab, focused on cannabinoid yield improvements, filing patents, establishing a cannabis tissue culture lab, and support of drug development team with statistical analysis and experimental design for Ebbu's proprietary formulations.

'The diversity of medical potential in mushroom compounds is astounding, the synergy of this knowledge with cutting edge research and production presents a remarkable opportunity for advances in both pointed treatment of serious conditions as well as general wellness,' said Rob Roscow, CSO of NewLeaf Brands, Inc.

Mr. Roscow's genetic studies and research landed Ebbu features in Rolling Stone Magazine, Nature Magazine, and PNAS (Proceedings of the National Academy of Sciences of the United States of America).

After Canopy's acquisition of Ebbu, Mr. Roscow has focused his attention on the thriving medical mushroom space, co-founding Mydecine Group ("Mydecine"). Mydecine is a vertically integrated company engaged to apply the vast medicinal, health and wellness capabilities of the multitude of compounds found in mycology as a whole.

Damon Michaels, co-founder of Mydecine and COO of NewLeaf, remarked that, 'Rob is one of those incredibly bright individuals you rarely come across in life that would resemble a modern day Sir Isaac Newton or Nikola Tesla. He is able to take the ordinary and turn it into the extraordinary. From our time spent together at Ebbu, I was able to watch Rob uncover a new world of cannabis research and experiment with the genetic chemotype profile of the plant that nobody has ever been able to do before in history. Not only is Rob an incredible geneticist, but his vast knowledge of multiple arts of science makes him the perfect person to be titled as the CSO of Mydecine as we go down this new path of mycology to discover the infinite exciting possibilities that fungi has to offer.'

For our latest "Buzz on the Street" Show featuring Newleaf Brands Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=MwmpcsJnmHo

Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) announced recently that American-made CBD brand, First & Free, a new line of CBD Creams: Everyday, Motion and Revitalize. The creams are the latest addition to First & Free's portfolio of hemp-derived CBD isolate products including oil drops and softgel capsules, which launched exclusively in the U.S. last December. The new product line includes three distinct topical creams with CBD isolate that has been derived from 100% USA-grown hemp. Each 1.76 oz tube contains 2500 mg of CBD, making First & Free the highest strength hemp-derived CBD topical cream on the US market. (*Based on product portfolios from the top 5 CBD companies according to Brightfield Research Group 2018-19 data). According to Canopy Growth Chief Commercial Officer David Bigioni, "With our new line of topical creams, First & Free is building a portfolio to treat the everyday stressors that affect both body and mind. We're proud to offer the highest strength topical cream on the US market – up to five times the CBD of other topicals – at a great value."

Tilray, Inc. (NASDAQ: TLRY) announced earlier this year its entry into a strategic agreement with Canndoc Ltd., a wholly-owned subsidiary of InterCure Ltd., through its wholly-owned subsidiary Tilray Portugal Unipessoal Lda., to export a wholesale shipment of up to 2.5 tons of medical cannabis from Portugal to Israel. "The cooperation between Canndoc, an Israeli cannabis pioneer and Tilray, a global cannabis pioneer, is a significant breakthrough for both Canndoc and the entire Israeli market," said Ehud Barak, former Israeli Prime Minister and Chairman of the Canndoc Board of Directors. "This enables the two companies to offer a broad product range for Israeli patients and patients worldwide in the near future. This is an important milestone for Canndoc's growth strategy."

Aphria Inc. (NYSE: APHA) (TSX: APHA) announced last year it has received a cultivation licence from Health Canada for Aphria Diamond, the Company's second Leamington, Ontario cannabis greenhouse facility, bringing an additional 1,300,000 square feet of production space with an annual growing capacity of 140,000kg. Combined with the Company's Aphria One facility and its subsidiary Broken Coast Cannabis, the Company now has more than 2,400,000 square feet of cultivation space capable of reaching a total annualized production capacity of 255,000kg.  "We are extremely pleased to receive the licence for our long-awaited Aphria Diamond facility, which more than doubles our Canadian production capacity," said Irwin D. Simon. "Reaching industry-leading production levels coinciding with the expansion into new categories and new opportunities for cannabis in Canada and around the world is a transformative moment for Aphria Inc."

Aurora Cannabis Inc. (NYSE: ACB) announced on February 3rd, 2020 its Aurora River production facility, located in Bradford, Ontario, has received European Union Good Manufacturing Practice certification. EU GMP certification is granted to companies whose production facilities demonstrate a high degree of quality and consistency in their manufacturing procedures and is a requirement for the export of medical cannabis products into most European markets.  "Aurora is leading the development of medical markets across Europe and around the world," said Terry Booth, CEO of Aurora. "The EU GMP certification of our River facility further validates our strategy focused on purpose-built facilities, designed and constructed exclusively for the production of high-quality, pharmaceutical grade cannabis. I congratulate our team on successfully working with regulators and licensing bodies to ensure Aurora's facilities and products are in accordance with local and international standards that will allow for greater access to the highest quality medical cannabis products to patients who need them."

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