MIAMI, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Mycotopia Therapies, Inc. (OTC Pink: TPIA) (the “Company”), a company focused on psychedelic therapies, announced today it has entered into a Psilocybin Supply Agreement with Havn Life Sciences (CSE: HAVN) (OTC Pink: HAVLF). The terms of the agreement call for Havn Life Sciences to supply Mycotopia Therapies with naturally-derived psilocybin. Under the terms of the agreement, Mycotopia Therapies is classified as a specialty pharmaceutical company focused on the research, development, and commercialization of novel therapeutics for unmet needs.
Mycotopia Therapies intends to build a distribution channel to supply naturally-derived psilocybe spp compounds, in accordance with al federal laws and local protocols, to universities, researchers and companies. Building out this psychedelic supply chain puts Mycotopia Therapies in an excellent position to be one of the first to market, as markets begin to open up around the globe. The agreement will also blaze a pathway for Mycotopia Therapies to secure further supply agreements with companies seeking high-quality and naturally derived psilocybin.
Data Bridge Market Research forecasts that the global psychedelics market will grow from $2.077B in 2019 to $6.859B by 2027 which represents a threefold increase in just 7 years. Psilocybin, the primary psychoactive ingredients in “magic mushrooms,” is the most widely-researched psychedelic substance today due to its minimal toxicity, non-addictive nature, as well as its ability to generate new neural pathways that allow different regions of the brain to communicate in new and more effective ways. Psilocybin is considered a Schedule 1 substance by the federal government and is considered illegal to produce, sell, possess or consume without special government authorization. Several U.S. states have passed legislation calling for research around psychedelic molecules, while several other states have bills in congress that could enact additional measures around psychedelic legalization.
Ben Kaplan, CEO of Mycotopia Therapies, said, “We are honored to partner with a world-class company like Havn Life Sciences on this Psilocybin Supply Agreement. Since Havn Life Sciences will supply Mycotopia Therapies with naturally-derived psilocybin, it enables Mycotopia Therapies to get to the distribution and revenue generation phase of our business plan much faster than If we had to set up our own manufacturing facilities.”
Ehave, Inc. controls approximately 75.77% of the outstanding shares of Mycotopia Therapies. Ehave is developing KetaDASH, which is a HIPAA compliant, cloud-based platform that will be first to market as a home healthcare provider offering IV based infusion therapy of ketamine. KetaDASH is available to ketamine clinics and qualified patients whose healthcare provider has prescribed it as a treatment. Qualified patients, doctors, and clinics are invited to visit https://www.ketadash.com/sign-up/ for more information.
About Mycotopia Therapies
Mycotopia Therapies Inc. provides psychedelic therapies through technology-focused, data-driven, and medical-based solutions for people dealing with anxiety, depression, bipolar disorders, PTSD, ADHD, autism, and addictions. With a primary focus of helping you heal and reclaim your life, Mycotopia Therapy endeavors to guide individuals through their journey of healing. This is accomplished by acquiring an understanding of the causes and works to mental wellness through psychedelic enhanced psychotherapy, integrated with a professional team of mental wellness practitioners and cutting-edge technology. Psychedelic therapy is a holistic and spiritual approach providing healing and has shown successful treatment for many years. The company operates as a subsidiary of EHAVE, Inc. Additional information on Mycotopia Therapy can be found on the Company’s website at: https://www.mycotopiatherapies.com.
About Havn Life Sciences Inc.
HAVN Life Sciences is a Canadian biotechnology company pursuing standardized extraction of psychoactive compounds, the development of natural health products, and innovative mental health treatment to support brain health and enhance the capabilities of the mind. Learn more at: havnlife.com and follow us on Facebook, Twitter, Instagram and YouTube.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading "Risk Factors" in Mycotopia Therapies, Inc.’s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC's website, http://www.sec.gov.
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