Red Light Holland Corp. TRUFF TRIP (FSE:4YX) has signed a distribution agreement with MW Pharma Limited t/a NUBU Pharmaceuticals, to explore the possibility of legal import and distribution of Red Light Holland's psilocybin microdosing capsules to Australasia.
NUBU has completed the rigorous application process with New Zealand's Ministry of Health to secure a 'Licence to Deal in Controlled Drugs', a 'Licence to Wholesale Medicines', and now a Medicinal Cannabis Supply License from the Medicinal Cannabis Agency. NUBU Pharmaceuticals currently has distribution deals with six companies; ECS Botanics EBOTF, Sciva International s.r.o., InterCure Ltd. INCR, MGC Pharmaceuticals Ltd. MGCLF and Australian Natural Therapeutics Group Pty Ltd. to supply medicinal cannabis products, as well as Canopy Growth Corporation's CGC Storz & Bickel GmbH for medical cannabis vaporizers.
The psilocybin microdosing capsules are being developed by Red Light Holland's laboratory partner, CCrest Laboratories Inc., a Montreal-based cGMP pharmaceutical laboratory that holds a Controlled Drugs & Substances Dealer's License from Health Canada. The capsules will be made out of natural psychoactive material (psilocybin + psilocin) and will be packaged in child-proof safety bottles. The capsules will undergo quality control testing, including those for dosage, certificate of analysis and stability.
Australia has recently, on February 3, 2023, announced a down-listing of psilocybin in its list of controlled substances to allow psychiatrists to prescribe psilocybin to patients suffering from treatment resistant depression. The change in scheduling was announced to take effect on July 1, 2023.
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