ATLANTA, Jan 22, 2020 (GLOBE NEWSWIRE via COMTEX) -- OTCStockReview.com News Commentary
There is an uptrend in the research of psychedelic substances for treating mental illnesses like addiction, depression, anxiety and posttraumatic stress disorder (PTSD). Researchers at Johns Hopkins University and the Multidisciplinary Association for Psychedelic Studies (MAPS) are pioneering research on psychedelic medicine, while the Yale Psychedelic Science Group is initially focused on contemporary clinical research and the mechanisms of action of psychedelic treatments. Both Forbes and CNN noticed the trend and recently published articles on the resurgence of research into psychedelics. As these researchers open new doors for the treatment of mental health issues, there exists a world of opportunity for the commercialization of research into psychedelics. Many investors are looking towards leaders in the cannabis industry as potential players in this field. As investor interest in psychedelic agents as adjuncts to psychotherapy or counseling for mental illness increases, it is opening a range of opportunity for companies that have successfully launched cannabis products including Ehave, Inc. (otc pink:EHVVF), Aphria Inc. /zigman2/quotes/207425803/composite APHA +0.24% /zigman2/quotes/205566616/delayed CA:APHA +0.71% , Canopy Growth Corporation /zigman2/quotes/202205609/delayed CA:WEED -0.37% , /zigman2/quotes/200603886/composite CGC -0.70% , and Green Thumb Industries Inc. /zigman2/quotes/206151134/delayed CA:GTII +0.61% (otcqx:GTBIF).
Ehave, Inc. (otc pink:EHVVF) just announced plans to enter the $88 billion mental health market with a letter of intent to acquire 100% of PsychedeliTech, a division of Israel based Israel Cannabis Limited ("iCAN"). Ehave management believes PsychedeliTech could be a leader in the commercialization of research into psychedelics for the treatment of anxiety, depression, and other mental illnesses. Upon closing of the transaction, iCAN Founder, Saul Kaye, will be appointed as a Chairman of Ehave's to be formed subsidiary PsychedeliTech. With a large number of contacts in the industry, both Ehave, Inc. and PsychedeliTech intend to create an ecosystem to nurture the development of therapies using psychedelics. The ecosystem includes clinical trials, biosynthesis of psychedelic compounds, E-commerce, CPG'S, supply, dosage, delivery, data, conferences and business intelligence.
Created by the team behind CannaTech, PsyTech is positioned to be an incubator and discovery platform to elevate psychedelic medicine, foster normalization, and accelerate innovation utilizing Ehave's Telemetry Engine and Ehave Dash. Ehave's Dash enables developers, clinicians, researchers, doctors, hospitals, universities and ultimately prescribers of Psychedelic therapy to monitor the effectiveness of treatment, track patient compliance and verify treatment outcomes in a reliable and objective manner through insightful data. PsyTech is also involved in the inaugural PsyTech Summit will take place March 29-30, 2020 at the Hilton Hotel, on the Mediterranean Sea in Tel Aviv, Israel. Rick Doblin, Ph.D., Founder and Executive Director of the Multidisciplinary Association for Psychedelic Studies (MAPS) will be the gathering's keynote speaker. The landmark event will bring together scientists, innovators, regulators, investors, and advocates from around the world to expand minds to the potential of psychedelic medicine.
Other cannabis-related developments from around the markets include:
Aphria Inc. /zigman2/quotes/207425803/composite APHA +0.24% /zigman2/quotes/205566616/delayed CA:APHA +0.71% announced Monday announced that it has received its European Union Good Manufacturing Practices certification (GMP certification) in respect of medicinal products for human use and investigational medicinal products for human use, from the Malta Medicines Authority at the Company's subsidiary, ARA - Avanti Rx Analytics. This clears the path for Aphria to start selling medical cannabis to pharmacies in Germany and other countries.
The GMP certification is important for Aphria to penetrate EU markets. Aphria expects to start its first shipments in the fourth quarter of fiscal 2020. The company has a June-to-May fiscal calendar. Aphria also lowered its revenue guidance for fiscal 2020. Aphria Inc. and its subsidiaries produce and sell medical marijuana in the form of capsules, oral solutions, and vaporizers through retail sales and wholesale channels. The Company's operations are based in Leamington, Ontario.
Canopy Growth Corporation /zigman2/quotes/202205609/delayed CA:WEED -0.37% , /zigman2/quotes/200603886/composite CGC -0.70% announced recently the Company has submitted its final documentation for its beverage facility to Health Canada in late June 2019 and subsequently received the license in late November 2019. In the seven weeks since receiving the license, the Company has made meaningful progress towards scaling the production process for its cannabis beverages from lab scale to commercial scale. Canopy Growth stated management remains very confident in the underlying beverage science and in its ability to scale production and deliver high quality, differentiated cannabis beverages to the market. However, the scaling process is not complete, and the Company is extending its to-market date while the internal teams complete the final steps. The Company also said cannabis beverages have disruptive power and in time, may introduce new consumers to the cannabis category. Canopy said management does not believe this delay will have a material impact on its FY20 revenue and that they intend to provide an update with the release of its Q3 2020 financial results.
Green Thumb Industries Inc. /zigman2/quotes/206151134/delayed CA:GTII +0.61% (otcqx:GTBIF) announced the next phase of its Social Equity License Education Assistance Program (LEAP) which includes programming and one-on-one consultations for Illinois craft grower, infuser and transporter licenses. Applications are due to the state on March 16 and the Department of Agriculture is expected to issue up to 40 craft grower licenses, up to 40 infuser licenses, and an unlimited number of transporter licenses on or before July 1, 2020. Dispensary applications were due January 2 with up to 75 awardees expected to be announced by May 1. In separate news, Chicago TV station WGN reported Tuesday that less than a month into Illinois' rollout of recreational marijuana, some worry severe supply shortages will affect patients who use cannabis as a medical treatment. Experts say supply shortages could go on for months, a frustrating situation for medical marijuana patients who say they can't find what they're looking for.
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