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Core One Labs Inc (2)
Symbol COOL
Shares Issued 70,967,507
Close 2021-02-25 C$ 1.17
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Core One ready for biosynthetic psilocybin production

2021-02-26 06:24 ET - News Release

Mr. Joel Shacker reports

CORE ONE LABS INITIATES FIRST STRAIN PRODUCTION FOR BIOSYNTHETIC PSILOCYBIN

Core One Labs Inc. is ready to begin initial biosynthetic psilocybin production trials.

The company's wholly owned subsidiary, Vocan Biotechnologies Inc. of Victoria, B.C., has successfully completed the development of its psilocybin detection and quantification methodology. This significant achievement allows the company to commence production trials with its first psilocybin producer strain.

The use of high-pressure liquid chromatography (HPLC) will allow the team to precisely determine the level of activity achievable with its proprietary DNA sequence in the producer strain. This proven method very quickly quantifies the amount of biosynthetic psilocybin generated during the fermentation process.

As the company progresses with its technology development, this analytical technique will enable the team to identify effective strategies to control and optimize psilocybin production suitable for use in future scale-up.

Joel Shacker, chief executive officer of Core One, noted: "With the recent acquisition of equipment and precursor materials in place, our team has moved faster than anticipated to advance our proprietary producer strain. The work already under way demonstrates a viable and efficient pathway to scalable production, positioning Core One at the production forefront of the sector in Canada."

Core One's ability to demonstrate cost-effective manufacturing of high-quality compounds is aimed at generating interest throughout the national research sector. Initial cost projections are predicted to offer API-grade (active pharmaceutical ingredient) psilocybin at savings of thousands of dollars per gram. The biosynthetic approach to psilocybin production allows for both IP (intellectual property) protection and rapid value generation through the applied use of proven scientific methodologies as a platform for rapid and scalable production.

About Core One Labs Inc.

Core One Labs is a research and technology company focused in life sciences and on bringing psychedelic medicines to market through novel delivery systems and psychedelic-assisted psychotherapy. The company has developed a patent-pending thin film oral strip which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. With this technology, the company intends to further develop its IP technology to focus on delivering psychedelic molecules with an initial focus on psilocybin. Core One also holds an interest in walk-in medical clinics which maintain a database of over 200,000 patients combined. Through research and development in these clinics, including the integration of its intellectual property related to psychedelic treatments and novel drug therapies, the company intends to work toward regulatory approval for research that advances psychedelic-derived treatments for mental health disorders.

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