Under the agreement, Halucenex and Acadia will progress the development of gel capsules containing psilocybin and CBD (cannabidiol) ingredients as a vehicle for drug delivery.

The parties will utilise Halucenex’s proprietary technology and experiment with novel formulations based on nanoemulsion and nanoencapsulation, which is pivotal for use in the pharmaceutical industry.

“Strong foundation for future progress”

Halucenex Founder and CEO Bill Fleming said: “We are excited to have entered into this collaboration with Acadia.

The group is a highly esteemed organisation with a strong background in the field of research and its state of the art research centres are conveniently located near our existing facilities.

“This is an important step for the company, as it will give us much greater insight into the drug development process.

“We have a clear focus on protocols and standards which have been adopted by the pharmaceutical industry and anticipate that these initial steps will provide a strong foundation for future progress.

To develop drug delivery vehicles

Halucenex and Acadia personnel will work together to develop drug delivery vehicles in the form of gel capsules containing CBD and psilocybin.

Both parties aim for the formulation to have a quick release effect, good bioavailability of the active ingredients and rapid action.

The research collaboration agreement sets out the scope of works to be completed over the 32-week period of the project and the details of the budgeted cost of the research being CAD$159,920 (AUD$172,457).

Two-stage project

The project will be undertaken across two stages and is expected to be completed during H1 CY2022.

Firstly, both parties will focus on the development of a CBD gel capsule.

This will include the selection of suitable hydrophilic vehicles for soft gel formulation, delineating the best working pH environment, chemical characterisation and stability testing.

Following this process, the second phase will commence which includes undertaking a similar process with a focus on the creation of a psilocybin only gel capsule.

To undertake these initiatives, a research associate (post-doctoral fellow) will be hired from Acadia to work on the initiative full time.

Halucenex and Creso Pharma will also supply the relevant CBD and psilocybin ingredients for the research phases.

CBD and psilocybin gaining strong traction

It is anticipated that the initiative will provide insight into both CBD and psilocybin compounds, requirements for the use of these products in the pharmaceutical industry and the potential manufacturing necessities for future term drug development.

Creso non-executive chairman Adam Blumenthal said: “We anticipate that this initiative will provide benefits across the Creso Pharma group of companies.

“Both CBD and psilocybin are gaining strong traction with consumers and to take the first step in developing a standardised dosage, with rapid onset will position Creso Pharma well within these industries.

“We look forward to receiving the initial results, as they will provide us with valuable insight into the potential steps towards licencing and manufacturing agreements with industry participants.”

Acadia University

Founded in 1838, Acadia University is one of the oldest and most respected liberal arts universities in Canada.

It is located outside of Halifax, Nova Scotia and boasts world-class, award winning research facilities.

Acadia fosters collaboration in research across a number of disciplines and works closely with industry, community and sister organisations.

Acadia University director of industry and community engagement Leigh Huestis said: “Acadia is thrilled to participate in this research collaboration.

“This type of cutting-edge research allows us to build on previous work we have done using nanoemulsion and nanoencapsulation technologies in the cannabis industry.

“Halucenex is an innovative company and a great partner to work with.”