CRESO gives an update on Halucenex acquisition.

Creso Pharma Limited (ASX:CPH, FRA:1X8) gave an update on target  acquisition company, Halucenex Life Sciences (“Halucenex”).

Halucenex have entered into an advisory agreement with Growing Together Research Inc., to explore the  genome sequencing of  natural psilocybe.  

Halucenex  is going to incorporate the use of additional psychedelic substances including LSD, Ketamine and MDMA  in  its treatment development initiatives for disorders  including  treatment  resistant depression, Post Traumatic Stress Disorder (PTSD) and other mental health illnesses.

The aim is creating an intellectual  property portfolio to assist in maximising the active ingredients in various strains of magic mushrooms and explore which elements have the best efficacy when being used to treat specific conditions.

A long term goal of the collaboration is to create an entire set of Psilocybe cubensis phenotypes, which will be tailored to specific use cases, including extraction of compounds from a fungal biomass and a holistic organismsm to provide whole mushrooms to medical professionals for administering in a standardised format.

ASX release available on the ASX:CPH page.