Ryan Allway December 7th, 2021 Mycotopia Therapies Inc. (OTC Pink: TPIA), a biopharmaceutical company focused on medicinal psychedelics research, technology, and development, recently announced... Seasoned Business Leaders Join Forces to Disrupt Psychedelics Sector

Ryan Allway

December 7th, 2021

Mycotopia Therapies Inc. (OTC Pink: TPIA), a biopharmaceutical company focused on medicinal psychedelics research, technology, and development, recently announced that it has reached a definitive agreement to merge with botanical psilocybin pioneer Ei.Ventures. The two companies plan to combine their resources to produce FDA-approved plant-derived psychoactive therapeutic treatment options, as well as non-psychoactive nutritional supplements and related products, to meet global mental healthcare needs.

“Psilocybin and other psychedelic medicines have tremendous potential to improve the mental health of many people who have given up hope,” says Mycotopia Therapies CEO Ben Kaplan. “Our passion has been focused on how Psilocybin and other psychedelic medicines are changing the lives of many individuals struggling with anxiety, depression, PTSD, opioid use disorder and other harmful addictions. Joining forces with Ei.Ventures presents a unique solution with the potential to accelerate our results. We are excited to work with the Ei.Ventures team in an attempt to impact mental health where Big Pharma has run out of options.”

The deal should be completed in the first quarter of 2022. At that time, David Nikzad and Jason A. Hobson will be appointed as officers and directors of the company, and the company’s name will be changed to PSLY.COM to better reflect its future operations. The company intends to trade under the symbol PSLY. The final management team will bring experience in the public and private markets with combined investments in over 100 companies and leadership in the nascent psychedelics movement.

The flagship botanical psilocybin-based product from Ei.Ventures, Psilly, is a pre-clinical, psilocybin-based botanical blend of whole plant and fungi designed to facilitate the “Entourage Effect”. The Entourage Effect, according to researchers, may be crucial to psilocybin’s therapeutic properties. It’s the result of a synergistic interaction between two or more compounds present in the same plant. Similar to how different strains of cannabis have varying impacts on the end-user, psilocybin mushrooms are now thought to have the same effect. The two companies want to finish pre-clinical and phase one trials with the FDA and then launch the innovative product into markets where it would be legal.

For its part, Mycotopia Therapies is dedicated to the creation, testing, and marketing of new treatments based on naturally occurring psilocybin. The company focuses on mushroom and psychedelic potential, conducting much of its research in Jamaica, where psilocybin is allowed. It’s working with one of the largest cannabis labs in the Netherlands to jointly create psychedelic medicine and plans to open psilocybin and ketamine clinics in Jamaica under the direction of a licensed clinical psychologist.

Instead of single-molecule synthetic pharmaceuticals, PSLY.COM will concentrate their efforts on developing fungal and plant-based Botanical Psychedelic API and Therapeutics, distinguishing it from practically every other firm in the space that is producing synthetic versions of psilocybin in their laboratories. Ei.Ventures holds the patent for the extraction technique of three botanical potential API constituents, Psilocybin, DMT, and MDMA, in its patent portfolio. PSLY.COM intends to continue developing this API and file a Drug Master File with the FDA, which will allow it to potentially offer the API to other companies while protecting its intellectual property.

“I am excited by the amount of wisdom these two companies bring together,” says Ei. Ventures Founder & Chaiman David Nikzad. “Everyone in these companies has a background in public markets, a decade plus in cannabis, and lawyers that have been involved in cannabis legislation, as well as start-ups, and heavily compliance-oriented businesses. We were the first to work on legally-compliant CBD products, and we were the first to work on a commercial Ayurvedic spa in the US built around plant medicine.”

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

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