Companies in the psychedelic sector are engaged in one common cause: utilizing new technologies, methods, and treatments to expedite the journey toward worldwide, positive mental health; however, not all companies choose the same strategies to pursue. We’ve seen a wide range of targeted health conditions, treatment methods, and choices of substance to research and develop. All with the intention of organically treating what is often regarded as untreatable.
With Core One Labs (CANADA: COOL) (U.S.: CLABF) (EUROPE: LD62), every acquisition, diversification, and market strategy decision seem to be cementing their place in the infrastructure of the psychedelic industry. Instead of putting all their eggs in one basket and attempting to chase after the next “miracle drug” or cure for a mental health affliction, Core One is continuing to position itself as a holder and supplier for these missions. acquiring, diversifying, and building into the future.
Core One has recently completed an acquisition of Bluejay Mental Health Group Inc.
A specialty mental health clinic founded in 2011, Bluejay has been a pioneer in the medical cannabis industry, with over 77,000 patients Canada-wide. Symptoms such as chronic pain, anxiety, and PTSD have been diagnosed and treated with alternative medical treatments. Their client base, as well as the 1,000+ physicians they have on referral, bring great value for Core One Labs as they move forward to utilize psilocybin products in an attempt to treat patients suffering from a variety of mental health conditions.
Did we mention they use a secure telecommunications platform?
This is a huge deal for Core One, as they will now have the ability to expand their patient network with a proven telehealth model. Some key benefits to the telehealth model include:
- Integrating clinical data with real world evidence using measured and meaningful data.
- Allowing for improved product development.
- Working as a full-service digital mental health platform, that can launch and commercialize psychedelic-assisted therapies and medicines at scale.
The expertise of Bluejay is another key aspect to this acquisition, as they have the knowledge and experience to navigate around tricky legislation surrounding alternative treatments, such as psychedelics.
Core One Labs is really walking the walk.
As Core One proceeds in developing its psychedelic arm of psilocybin treatments, exploration into further alternative treatments lands them in DMT territory.
N-dimethyltryptamine, most commonly known as DMT, or the “spirit molecule,” is a naturally occurring substance that is already produced by our brains. Known as our “third-eye,” DMT is to thank for how we experience our dreams and gets rapidly released when we pass away. Known to give deep, complex hallucinations, often described as “speaking to the universe,” DMT is commonly harvested through ayahuasca (which is legal under specific conditions in some countries) to “replenish the user’s sense of purpose, and thoroughly enhance spirituality.”
As if acquiring the Ketamine Infusions Centers of Texas wasn’t enough, Core One is now getting their feet wet in a development program for the treatment of anxiety and depression through DMT–assisted psychotherapy.
Small Pharma Ltd., in collaboration with the Centre for Psychedelic Research at Imperial College London, is conducting Phase 1 of the clinical trials, which started in January this year. Phase 2, highlighting proof of concept, will be following promptly afterwards.
DMT is recently decriminalized in the states, although remaining a schedule 1 controlled substance. In addition to harvesting through ayahuasca, DMT can be found in the venom of Bufo Alvarius toads and can be synthetically produced for accurate clinical use.
“We have chosen to explore DMT–assisted therapy research due to its recent acceptance from the MHRA for clinical studies. In addition, it has a quick onset action and the short time periods it remains effective are very similar to ketamine. DMT delivers a psychedelic experience in 20 minutes and has distinct properties that lend itself well for clinical use. We believe it will be a very viable solution for the treatment of depression in the future,” stated Joel Shacker, CEO of Core One Labs.
In a strategic move to broaden the pipeline of investors for Core One Labs, the company has filed an application to list their shares on the NASDAQ stock exchange.
Being the second-largest exchange by market cap, this poses huge benefits for investor awareness and market liquidity which, in turn, enhances value to all shareholders. Keep in mind, the company needs to satisfy several conditions to successfully complete the graduation of exchanges.
The NASDAQ Listing Qualifications Staff must see all the applicable criteria met by Core One for an initial listing. Additionally, the company must register their common shares with the U.S. Securities and Exchange Commission (SEC).
“Given our plans for continued expansion of our geographic footprint of operations in the U.S., we want to make sure that our access to investors keeps pace with the underlying growth and expansion of our business. We view the Nasdaq listing as an important next step in growing our capital base, supporting our current investor base as well as future investors,” noted Joel Shacker.
Core One will continue trading under the Canadian ticker COOL and the U.S. ticker CLABF in the meantime. Should the company successfully list on the premium exchange, a share consolidation may be required in consideration of the NASDAQ’s price requirements. This ultimately wouldn’t change anything for existing shareholders’ net positions; it would merely change the number of shares in their account.
Disclaimer: Core One Labs Inc. is an Edge Communications Client, and we own shares in the company.