Here, according to their press release, are the key points
Highlights:
Completion of acquisition provides Creso Pharma with access to the emerging global market for psychedelic medicines – estimated to be worth up to US100Bni
Halucenex to progress phase II clinical trial to test the efficacy of psilocybin when used to treat Post Traumatic Stress Disorder (PTSD)
PTSD therapeutics market expected to grow to US$10.5Bn by 2025ii
Additional synergies being explored to position the company to capitalise ahead of proposed merger with Red Light Holland (“RLH”)
Creso Pharma to leverage expertise of Halucenex and RLH management to expedite product development initiatives, ongoing R&D and potential market entries
Halucenex’s operation progress continues – USP 61 test protocols complete providing additional validation of psilocybin compounds ahead of Clinical Trial Application
USP 62 test protocols to test product degradation now underway – expected to be completed in coming weeks
Halucenex to progress Clinical Trial Application next month, prior to receipt of Controlled Drugs and Substances Dealer’s License from Health Canada in a push to expedite clinical trial process
COVID-19 has further highlighted mental health effects and the potential for alternative solutions such as Psychedelic assisted therapyiii
Halucenex will play a crucial role in the proposed Merger between Creso Pharma and RLH in the creation and growth trajectory of The Highbrid Lab
Further positive updates from Halucenex expected in the short term
Creso Pharma is now the only ASX listed company, and one of a few globally, operating in Cannabis and Psychedelic R&D and therapies and treatments
The full release
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