Optimi Health Boosts Psilocybin Production With New Health Canada License And Supply Deal

Psychedelics research and manufacturing company Optimi Health Corp. OPTHF received a “Natural Health Product Site" license, adding to its existing permits to produce and supply psychedelic substances including MDMA and psilocybin.

See also: Another Company Approved To Begin Production Of Psychedelics Under Canadian Dealers License

Following an assessment by Health Canada’s Natural and Non-prescription Health Products directorate and under section 29 of the Natural Health Products Regulations, the expanded licensing now allows Optimi to manufacture and arrange product encapsulating, packaging and labeling of Natural Health Products (NHPs) at its 10,000 sq. ft. Princeton, BC facility.

CEO Bill Ciprick says the new license expands the company’s ability to produce its products on site for global market distribution and further enables it to “diversify and leverage the potential of its existing manufacturing, processing and packaging capabilities” toward streamlining fulfillment and reducing supply chain costs to support continued growth.

Optimi has also announced a near $900,000 (CA$1.2 million) GMP-compliant natural psilocybin supply agreement with a private entity focused on clinical research and drug development, with further details soon to be announced.

To service this exclusive supply deal, the company has focused its entire facility on the cultivation of dried GMP psilocybin-containing biomass and their extraction into a refined substance, which will be distributed to the counterpart's international research sites.

Optimi expects to report its second quarter 2023 earnings results before markets open between May 19 and 30.

Photo: Benzinga edit with photo by geralt on Pixabay.