Canadian Psychedelics Company And Nonprofit Team Up To Accelerate Access And Product Launch

Health-Canada licensed psychedelics biotech Lucy Scientific Discovery (NASDAQ: LSDI) and not-for-profit psilocybin advocate organization TheraPsil have partnered toward advancing medical psilocybin access and research.

Since 2019, TheraPsil has worked on lawful and compassionate access to psilocybin-assisted therapy for Canadians in need by supporting patients with their applications for federal approval and connecting them with qualified practitioners once approved. 

See also: Canadian Patients Demand Access To Psilocybin: Federal Lawsuit, Official Petition & Failing Mechanism

The new collaboration is meant to expand legal access to psilocybin therapy for Canadian patients with end-of-life distress and other serious medical conditions while collecting real-world data to improve the treatment’s safety and efficacy, using TheraPsil's Project Solace as a basis.

See also: What A Collab! Optimi Health & Patient Advocate Thomas Hartle's New Medical Psilocybin Venture

The partnership is also set to enable Lucy to introduce a number of natural psilocybin products into the Canadian market, expectedly allowing the company to gain early consumer feedback as well as build brand recognition in the country.

Lucy’s CEO Chris McElvany said the company is thrilled by both its collaboration partner and the “unique opportunity” it provides to access the Canadian psilocybin product market. 

On behalf of TheraPsil, CEO Spencer Hawkswell added, "Canadians are in urgent need of compassionate access to psilocybin. Having Lucy join the project is going to help thousands of patients connect with doctors and therapists who will be able to support their SAP exemptions to help them access psilocybin."

Photo: Benzinga edit with photo by Geralt on Pixabay.