TORONTO, Sept. 19, 2019 /PRNewswire/ -- Field Trip Ventures Inc. ("Field Trip" or the "Company"), the world's first integrated company in legal psychedelics and psychedelic-assisted psychotherapy, today announced entry into a strategic partnership with the University of the West Indies, Mona, Jamaica ("UWI") to create the world's first legal research and cultivation facility dedicated to psilocybin-producing mushrooms (the "Facility").
Under the terms of the strategic partnership, Field Trip Natural Products Limited (Field Trip's Jamaican subsidiary) will construct, fund and operate a state-of-the-art research and cultivation facility on UWI's Mona campus. In consideration, UWI will lease to Field Trip the land to build the Facility as well as make available leading biology, mycology and chemistry researchers to assist Field Trip's research and cultivation efforts.
The focus of the Facility will be broad-ranging, from genetics, breeding and cultivation work on the 180+ plus species of psilocybin-producing mushrooms, to developing methods and analysis for extractions and formulations, to identification of novel molecules for drug development purposes.
"Field Trip's mission is to advance the science and understanding of psychedelic compounds, and to develop their therapeutic and wellness applications, through an integrated business model," said Mujeeb Jafferi, Field Trip's President. "Although psilocybin, as a molecule, has been well-studied, there is great opportunity to create impact by developing a better understanding of the fungi that produce psilocybin and other tryptamines. This is why we are so pleased to be partnering with UWI, a leading global academic institution, in building this facility in Jamaica."
Dean of the Faculty of Science and Technology, Professor Michael Taylor, welcomed the opportunity for expansion of capacity and skills that this partnership will provide for both faculty and students, "We look forward to working with the team at Field Trip. Their experience and accomplishments in building plant-based therapeutics industries, such as medical cannabis, along with their thoughtful vision for advancing mental health treatments, make Field Trip a great partner for UWI. Moreover, we are confident that this partnership will further advance our mission to create knowledge and foster innovation for the positive transformation of the Caribbean and the wider world."
Research at the Facility will be led by Rupika Delgoda, Professor of Biochemical Pharmacology & Pharmacognosy and Director of the Natural Products Institute at UWI, who holds a D.Phil. from Oxford University (UK) in Pharmacology.
"Studies have already identified psilocybin's unique ability, when used in conjunction with psychedelic-assisted psychotherapy, to treat conditions such as depression, anxiety and potentially a number of other mental health conditions. The Facility will allow us produce well-characterized extracts to help expand on that research and will focus on, among other things, finding novel therapies and applications of psilocybin-producing mushrooms where existing pharmacological options are failing," said Professor Delgoda.
Construction of the Facility is expected to be completed by December 2019.
"With 1-in-4 people in North America being diagnosed with a mental health disorder, the need for novel, effective, safe therapeutics has never been greater. Working in Jamaica, a jurisdiction in which psilocybin mushrooms are legal, will enable us to develop the know-how, techniques, intellectual property and standard operating procedures necessary to develop, scale and commercialize these therapies," added Jafferi.
About Field Trip Ventures Inc.
Founded by pioneers in the global medical cannabis industry, Field Trip is the world's first integrated company in legal psychedelics. With current and planned operations in North American, the Caribbean and Europe, Field Trip's goal is to become the recognized global leader in the medical and therapeutic applications of psychedelics.
Learn more at https://fieldtrip.ventures
SOURCE Field Trip Ventures