XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) has filed a patent application covering a significant library of novel psychedelic compounds. According to the announcement, each compound included in the filing is designed to provide specific alterations in their respective biopharmaceutical properties. The company noted that it expects the global psychedelic drugs market to see significant market growth in the next decade, with one report projecting the industry to reach almost $6.5 billion by 2029. XPhyto has partnered with Applied Pharmaceutical Innovation to carry out key research and development in the space; Applied is a not-for-profit institution located at the University of Alberta. XPhyto is executing a multi-strategic approach to psychedelic medicine that includes drug synthesis, drug delivery and novel psychedelic analogue engineering. The company will retain 100% of intellectual property resulting from its R&D efforts with Applied. “The library of compounds can be selected to target (personalize) the treatment of neuropsychiatric, and neurodegenerative, neuroinflammatory and pain disorders including depression, as well as tobacco, opiate (‘OUD’), and cocaine addiction, alcoholism (‘AUD’), post-traumatic stress disorder (‘PTSD’), and pain syndromes including cluster headaches and chemotherapy induced peripheral neuropathy,” the company stated in the press release. “Novel methods of administration might be applied for dosing to further optimize therapeutic outcomes. This significant library of psychedelic derived molecules secures XPhyto a platform technology to which variations of the molecules can be applied to various indications as noted. The potential applications are subject to the requisite clinical and regulatory commercialization processes.”
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About XPhyto Therapeutics Corp.
XPhyto Therapeutics Corp. is a diversified bioscience accelerator focused on next-generation drug formulation, as well as diagnostic and new active pharmaceutical ingredient investment opportunities, including precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and manufacture, standardization, and evaluation of psychedelic compounds for the treatment of neurological conditions. The company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets. For more information about the company, visit www.XPhyto.com.
NOTE TO INVESTORS: The latest news and updates relating to XPHYF are available in the company’s newsroom at https://ibn.fm/XPHYF
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