Business
Allied Moves to Become Leader in Psilocybin Space with Intent to Acquire of Pacific Sun Fungi
Allied Moves to Become Leader in Psilocybin Space with Intent to Acquire of Pacific Sun Fungi.
About this update from Allied Corp.
[{"type":"text","content":"\n KELOWNA, British Columbia, Dec. 24, 2020 (GLOBE NEWSWIRE) -- Allied Corp. (\"Allied\") (OTCQB: ALID) – an international medical cannabis company focused on creating and providing health solutions to address today’s medical mental health issues is pleased to announce the signing of a letter of intent to acquire the psilocybin company Pacific Sun Fungi (“Pacific Sun”). This further expands upon Allied’s press release of October 20, 2020 communicating the submission of the provisional patent for Allied’s functional mushroom formulation targeting major depression and anxiety. Pacific Sun is a British Columbia corporation that has been working on Research and Development activities in the psilocybin space for the past 10 years. Pacific Sun holds several formulations that have been tested under physician supervision. Pacific Sun also has proprietary extraction technology, proprietary formulations for several specific disease targets and physician-led therapy protocols that have proven to be effective for several specific disease targets. Over the past two years, in parallel with psilocybin moving into the pharmaceutical research realm, Allied has continued to develop its pharmaceutical research infrastructure. This represents the evolution of Allied beyond specific cannabis-based therapies to more pharma-based health targets. Allied was born out of the need to support veterans and first responders suffering from PTSD with targeted cannabinoid solutions. This acquisition has advanced Allied into the broader mental health market encompassing both pharmaceutical and natural health products. Building upon our experience with PTSD, we are expanding our research and treatment options to encompass depression, anxiety and general mental health. This puts Allied in the unique position to provide a full-scope, closed-loop therapy protocol. Typical psilocybin therapies support the patient for an episodic micro-dosing treatment regime which follows a specific dosing and wash out cycle. Unfortunately, this leaves the patient with a treatment gap between dosing periods. This can now be bridged with Allied’s existing cannabinoid treatment solutions. A “full scope treatment” option. The proprietary “Allied full scope treatment” offers the patient continual therapy with treatment opt...