Calgary-based Med Plant Science Ltd. granted license to research and develop psychedelics on the Caribbean Island of St Vincent and the Grenadines

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CALGARY, AB, March 1, 2022 /PRNewswire/ - Calgary-based biotech company, Med Plant Science Ltd, has been awarded a license for medicinal plants containing psychedelic compounds by the St. Vincent and the Grenadines (SVG) Bureau of Standards. The Scientific Research License allows for cultivation, processing, import/export of psychedelic compounds for medicinal purposes and scientific research. It applies to the following compounds: Psilocybin, Ketamine, Ibogaine, Ayahuasca, Dimethyltryptamine(DMT), Mescaline, 3-4 Methylenedioxy-Methamphetamine(MDMA), Lysergic Acid Diethylamide(LSD), 5-Methoxy-N,N-Dimethyltrypotomine(5-MeO-DMT), Turmeric, Aloe Vera, Papaya, Arrowroot, Soursop, Coconut, Ginger, Moringa, Iboga, Sassafras, and Peyote.

Upon completion of the research stage, the License is expandable to allow Med Plant Science to offer access to clinical treatment facilities using psychedelics for mental health disorders including: PTSD, addiction, alcoholism, depression and anxiety. Med Plant Science is also excited to announce a partnership with HIVE.bio, a global network of next generation mental health centres specializing in psychedelic assisted psychotherapy.  This unique partnership will accelerate the introduction of world-class psychedelic therapy to SVG. 

Med Plant Science CEO, Angus Taylor, commented "This License enables research to demonstrate psychedelic compounds are safe and effective medicines. It's our goal to advance disruptive technologies and support novel treatment centers within the psychedelics space." Mr. Taylor suggested the company has been quietly working hard in the background to advance its positioning in the psychedelic space but to expect a stream of announcements over the coming weeks. "We are engaged in discussions with different partners who share our commitment and vision to develop innovative medical solutions to mental health challenges. I'll speak about these developments in the coming weeks as we continue to advance our biotech business thesis."

Hon. Saboto Caesar, Minister of Agriculture, Forestry, Fisheries, Rural Transformation, Industry & Labour of St. Vincent and the Grenadines expressed his support for the company's presence in SVG, as well as his anticipation for the country's favorable positioning and future in the psychedelic industry. He maintains that "a Modern Medicinal Industry begins and ends with Science." He further indicated that the psychedelic industry will provide a fertile ground attractive to scientists, researchers, academics and students from around the world. He congratulates and wishes Med Plant Science Ltd. the very best in their quest to participate in the psychedelic industry in St. Vincent and the Grenadines.

Supported by the mounting evidence, researchers believe psychedelics have amazing potential as new novel medications to treat many mental health conditions. Often, patient outcomes significantly improve compared to traditional pharmaceuticals and/or psychotherapy with respect to mood, focus, cravings, creativity, and overall mental health.

About Med Plant Science
Med Plant Science is a biotech company focused on the research and development of medicines based on psychedelic substances. The company is licensed to grow, process, extract, and export psychedelic compounds from plants and mushrooms. Med Plant Science is actively involved in the research and development of rapid onset psychedelic medications that empower clinicians to work with more patients and get better outcomes.

SOURCE Med Plant Science Ltd