Core One Labs’ Vocan Initiates Engineering and Design of a Proprietary Production System for Manufacturing of API-Grade DMT

VANCOUVER, British Columbia, April 21, 2021 (GLOBE NEWSWIRE) — Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (”Core One”) a life sciences research and technology company focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic-assisted psychotherapy is pleased to announce its wholly owned subsidiary Vocan Biotechnologies Inc. (“Vocan”) has initiated the engineering and design of a proprietary enzymatic production system for the manufacturing of API-grade N,N-dimethyltryptamine (DMT). DMT, a naturally occurring psychedelic substance, is currently under clinical investigation for the treatment of certain mood disorders. The compound is a primary component of traditional South American entheogenic brews and is traditionally derived from the leaves of a variety of plants endemic to equatorial regions across the globe.

The Vocan team has outlined a genetic pathway that could result in potentially elevated levels of DMT biosynthesis compared to the naturally occurring production pathway in the plants from which the compound is commonly extracted. With further development the research team plans to construct a high-throughput production system based on the same recombinant enzyme fermentation platform the company is already developing for API-psilocybin. The addition of this biosynthetic target to its development pipeline will allow Vocan to broaden its offerings of clinical-quality psychedelic medicines and enable advancement of the therapeutic use of psychedelic substances in medicine.

This proprietary approach to DMT production will preserve the highly specific molecular structure of naturally occurring plant-derived DMT and allow the Company’s fermentative biosynthesis platform to be optimized for maximum DMT output at production scale. The team intends to accelerate the current development stage of its DMT production system within a few weeks in order to fast-track the first DMT provisional patent filling with the US Patent and Trademark Office. Early patent protection of its proprietary DNA sequences and enhanced-activity enzymes will ensure API-grade DMT can be manufactured by a repeatable and reliable process without any requirement for more costly chemical synthesis or cultivation, extraction, and purification from plant sources.

“Core One’s research and development division, through the leadership of Dr. Robert Hancock, continues to achieve significant scientific milestones in the production of biosynthesized and stereochemically sound psychedelic compounds. There is a growing body of scientific research and empirical evidence surrounding the benefits of using various psychedelic compounds to treat mental health afflictions and Core One endeavours to support the scientific community by providing psychedelic compounds for their research at a fraction of the cost of other producers. We will continue to develop and expand our psychedelic product offerings, to provide the scientific research community with the compounds they need, and the successful engineering of enzymatic DMT is another example of how we can do this,” Stated Joel Shacker CEO of the Company.

About Core One Labs Inc.
Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One has developed a patent pending thin film oral strip (the “technology”) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.
Joel Shacker
Chief Executive Officer

Cautionary Disclaimer Statement:

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with strict regulatory regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

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About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.