Psycheceutical Announces Agreement with Vici Health Sciences

Relationship focused on development of IP and branded formulations

MIAMI, March 15, 2022 /PRNewswire/ -- Psycheceutical, Inc. (a wholly-owned subsidiary of Psycheceutical Bioscience, Inc. (OTC: BWVI), a bioscience company dedicated to the development and commercialization of psychedelic medicines, has announced it has entered into a strategic agreement with Vici Health Sciences, known for providing pharmaceutical clients with tools to innovate and grow through new product development. Through this relationship, Psycheceutical will be able to test and develop its patented technologies and continue its focus on exploring the formulation of unique, branded compounds.

"This is a very exciting time for Psycheceutical. We view this relationship as an important step toward helping us bring our unique psychedelic pharmaceutical delivery technologies to market," commented Chad Harman, CEO, Psycheceutical. "Additionally, we are very excited to have in Vici Health Sciences a partner with whom we can pursue development and testing of new formulations of drugs such as ketamine, which has so much potential in the treatment of numerous conditions."

Vici Health Sciences are experts in developing innovative oral, topical, injectable, and ophthalmic formulations. Their GMP facility can manufacture and test a variety of first-in-human, Phase 1, and Phase 2 clinical trial materials. Their in-house regulatory documentation and technical project management staff oversee all aspects of R&D through product approval.

"We are excited to work with Psycheceutical to develop their Phase 1 and Phase 2 clinical trial products," said Anish Dhanarajan, CEO of Vici Health Sciences. "Psychedelic medicine holds great promise for many mental health disorders and we are honored to work alongside the experienced team at Psycheceutical with a goal to bring these new psychedelic formulations to the patients they can help the most."

About Psycheceutical, Inc.

Psycheceutical, Inc. is the wholly-owned subsidiary of Psycheceutical Bioscience, Inc. (OTC: BWVI). Psycheceutical is developing cutting-edge delivery technologies to support safe and effective psychedelic pharmaceutical medicines. Powered by a team with more than 100 years' combined experience in development, regulatory approval processes, and commercialization across the pharmaceutical industry, Psycheceutical is on a mission to bring safety and efficacy to psychedelic compounds. Learn more at Psycheceutical.com.

About Vici Health Sciences

Vici Health Sciences (Vici) is a U.S.-based pharmaceutical research and development company. Vici is focused on providing innovative, flexible, high quality, and low-cost R&D services to small and mid-sized pharmaceutical companies that need to grow their product portfolio. Vici currently focuses on oral and injectable dosage forms and operates an R&D and GMP facility capable of developing formulations, analytical methods, and manufacturing Phase 1/pilot clinical supplies.

Forward-Looking Statements:

Certain statements in this news release related to the Company constitute "forward-looking information" within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These uncertainties include, but are not limited to, (i) general market growth for and acceptance of psychedelic-inspired medicines, (ii) capital and credit availability and market volatility, (iii) general economic conditions, (iv) governmental approvals and compliance with regulations, (v) product research and development and clinical trial risks, (vi) incorrect underlying assumptions, and (vii) our future business development, results of operations, and financial condition. These statements generally can be identified using forward-looking words such as "will," "may," "should," "could," "intend," "estimate," "plan," "anticipate," "expect," "believe," "potential" or "continue," or the negative thereof or similar variations. All information provided in this press release is as of the date of this press release, and we undertake no duty to update such information, except as required under applicable law.

Contact:
Kaia Roman
VP, Strategy & Communications
[email protected]
831-295-2111

SOURCE Psycheceutical, Inc.