This move takes a further step toward that goal as the company expands out its functionalities and joins a rapidly growing industry.
Find out how this is done, learn about functional mushrooms, and venture into the psychedelic space by reading below.
Pure Extracts’ Extraction Process
One of the most critical features of Pure Extracts’ business is, well, extracting. Their specific process is known as full-spectrum extraction and utilizes CO2 to extract all components of biomass, rather than isolating one or a few compounds. This maintains the full profile of the biomass, thus enabling researchers and users to take advantage of the entire plant (or mushroom), rather than simply one component.
As many of the benefits and general effects of cannabis, functional mushrooms, and psychedelics are not yet understood, maintaining the comprehensive profile of specific biomass is incredibly important for research. Additionally, maintaining the minor compounds present in these biomasses is considered more beneficial for the end-user.
PULL’s Pemberton facility has been built to be fully compliant with Canadian regulations and European Union GMP standards. This allows for the ease of expansion to Europe, where many countries have already legalized both cannabis and mushroom extract products.
Before this release, we already knew that Pure Extracts was actively working toward expanding their product offering to include extracts from functional mushrooms; however, recent news has included that the company will be experimenting with the extraction of three specific mushrooms:
Turkey tail – beneficial for gut health and, perhaps, fighting cancer. While this is a radical claim, several studies have shown that turkey tail mushrooms have immune-boosting properties and, taken in conjunction with treatments such as chemotherapy, may pose new benefits. The mushroom contains compounds called polysaccharopeptide (PSP) and polysaccharide-K (PSK) which, thus far, appear to inhibit the growth of cancer cells and stimulate the immune system. In Japan, isolated PSK is an approved adjuvant cancer treatment.
Reishi – these mushrooms are best-known for their purported effects in boosting the immune system and reducing stress in patients. Most recently, laboratory test-tube studies have found that they also could be effective in fighting cancer and shrinking tumours, though further testing is needed.
Lion’s mane – this functional mushroom is touted to help reduce inflammation and oxidation within the body, which contributes to many medical conditions including diabetes, heart disease, and autoimmune diseases. Additionally, lion’s mane is believed to be beneficial for cognitive health by both boosting functions such as recognition and memory, as well as preventing cognitive health issues such as anxiety and depression.
Keep in mind that most research is in its early stages and, thus far, has primarily been performed on animals. Further scientific research is needed before these claims can be definitively proven or disproven.
The functional mushroom market is forecasted to reach $34.3B US by 2024, growing at a compound annual growth rate (CAGR) of 8%, with Europe leading the way.
Functional mushrooms are touted by health gurus to improve many areas of mental and physical health including memory, immune support, stamina, and more. Psychedelics – specifically “magic mushrooms” – are experiencing extreme forward momentum as legalization is attained throughout the United States, with two states legalizing its use in therapeutic settings, and four cities decriminalizing the substance.
Capitalizing Upon the Shroom Boom
PULL included mention that it “aims to eventually enter the growing field of psychedelic mushroom processing as an additional aspect of its diverse extraction market penetration strategy.”
As a company experienced in regulatory navigation through experience in the cannabis industry, it is expected that institutional knowledge will assist the team in moving quickly into the space.
CEO of Pure Extracts, Ben Nikolaevsky, noted that they “can’t help but see the similarities to the cannabis sector regarding the pathways to both medical and recreational legalization.”
Both Oregon and Washington have legalized the therapeutic use of psychedelic mushrooms to further research; however, they will require sophisticated supply chain solutions to get reliable access to the drug as more states begin doing research and supply becomes the process’ major bottleneck. If Pure Extracts can navigate the regulatory grey area and become a supplier of medical-grade psychedelics in the near-term, the company will become a first mover in the space, cementing its foothold within the industry.
Read the Full Press Release Here:
PURE EXTRACTS TECHNOLOGIES CORP. TO COMMENCE TRADING ON THE CANADIAN SECURITIES EXCHANGE (CSE)
Vancouver, B.C., November 26, 2020 (GLOBE NEWSWIRE) – Pure Extracts Technologies Corp. (CSE: PULL) (XFRA: A2QJAJ) (“Pure Extracts” or the “Company”), a plant-based extraction company focused on cannabis, hemp and the rapidly emerging functional mushroom sectors, is pleased to provide an update and overview regarding its expansion into the functional mushroom wellness sector.
With interest in functional and medicinal mushrooms climbing sharply, particularly regarding medicinal opportunities, the outlook appears promising for the sector. Pure Extracts has noted recent announcements showing increased institutional interest in the field of psychedelics in general and with a focus on promising mushroom varieties such as psilocybin specifically. As a study candidate Psilocybin is being looked at for treatment options including depression, anxiety, PTSD, bipolar disorder, Alzheimer’s disease and addiction. The U.S. Food and Drug Administration (USFDA) status on the use of psychedelics appears to be evolving, subsequent to breakthrough therapy status for treatment-resistant depression in 2020 which appears poised to receive approvals in 2021. Recent reports also indicate that the global market for functional mushrooms, is forecasted to reach $34.3 billion USD by 2024 and continues growing at a respectable CAGR of 8%.
As a result of the encouraging and growing interest in the sector, Pure Extracts has commenced the expansion of its business model to include mushroom formulations through the use of extraction processes that have proven compatible with its existing infrastructure. The Company is working closely with its scientific advisor, Dr. Alexander MacGregor, the founder of the Toronto Institute of Pharmaceutical Technology, to develop high bio-available products and novel delivery methodologies including pills, capsules, and edibles. Furthermore, the Company believes that there exists a significant opportunity for it to become an important extraction partner for the commercialization of new functional mushroom products designed with purity and consistency in mind. In that regard, Pure Extracts has signed a Letter of Intent (LOI) with one of Canada’s leading functional mushroom wellness brands to co-develop CBD enhanced mushroom products.
Looking further ahead, Pure Extracts aims to eventually enter the growing field of psychedelic mushroom processing as an additional aspect of its diverse extraction market penetration strategy. In the interim, three functional products such as lion’s mane, turkey tail and reishi are being created under the ‘Pure Mushrooms’ brand. In herbal medicine, these products are thought to boost memory, support the immune system or reduce stress. Pure Mushrooms products are projected for availability by the end of Q1 2021 via direct-to-consumer sales utilizing the Company’s capital efficient, e-Commerce web portal. The creation of these products will validate the Company’s processes and capabilities and prepare it as additional strains become available.
Company CEO, Ben Nikolaevsky notes, “Our brand is an aspirational extension of our location in the mountains of British Columbia. As such, we are 100% focused on high quality ingredients, formulations, and processes in all our efforts. Moving into the field of mushroom extractions is an obvious and exciting opportunity to leverage our advanced technology and proven capabilities. We look forward to launching our functional products commercially within the next few months and can’t help but see the similarities to the cannabis sector regarding the pathways to both medical and recreational legalization. I believe our ability to immediately begin working in this burgeoning sector will create immense value for our business, our stakeholders, partners and shareholders alike.”