Biotechnology company Orthogonal Thinker has filed an application for a proprietary psilocybin product with the United States Patent and Trademark Office (USPTO).
The Kihei, Hawaii-based company, which is focused on whole plant products as well as psychoactive compounds, has leveraged a proprietary formulation that uses natural alkaloids to produce its flagship product, Psilly.
Encuentra tus noticias sobre psicodélicos en Español en El Planteo.
Management said it utilized a portion of the more than $5 million it raised in seed capital to pursue development of the product.
“Our proprietary psilocybin patent application is a crucial step in advancing our efforts to ensure the viability of our cutting edge medicines," Jason Hobson, CEO of Orthogonal Thinker, told Benzinga. "We couldn’t be more excited or grateful.”
Orthogonal Thinker COO Alex Speiser also hyped up Psilly.
“Anything we do or will do starts from whole plants," Speiser said. "Our proprietary psilocybin molecule was developed to be true to the essence of psilocybin mushrooms and true to the legacy of psychedelic science. We have achieved our goal of coming up with something that is ‘better’ but still has the heart of the whole plant. This has always been and will continue to be the goal with our R&D.”
Photo by Javier Hasse.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.