Champignon Brands makes ketamine treatment available at major Canadian pharmacy location | ||
Thursday, 30 April 2020 ()
Champignon Brands Inc (CSE:SHRM) (OTCQB:SHRMF) said Thursday that a major Canadian pharmacy chain will dispense its ketamine topical treatment at one of its locations. The move strengthens Champignon’s vertically integrated psychedelic medicine offering by accelerating its ketamine topicals fulfillment capabilities, the firm said in a statement. Vancouver-based Champignon will also leverage the pharmacy’s infrastructure to distribute ketamine topical prescriptions to a network of medical, pain and addiction clinics in Canada, broadening the company’s revenue stream. READ: Champignon Brands inks blockbuster deal to roll out network of psychedelic medicine clinics in North America The clinics will use Champignon’s formulations to conduct chart reviews and patient studies under human ethics approval from Health Canada and data from the studies will be used to published peer-reviewed mandates and expedite future human clinical trials planned for later this year. Additionally, Champignon and the pharmacy will design a Level B clean room located at the pharmacy to compound and package the company’s ketamine formulations, which include off-market intranasal esketamine and ketamine topicals. The clean room is anticipated to be completed by 3Q 2020 and will be designed in line with national pharmacy regulatory guidelines. “With this arrangement, Champignon boasts complete vertical integration with respect to our rapid onset ketamine treatments and therapies,” CEO Gareth Birdsall said in the statement. “From novel formulations to product development at a purpose-built GMP and DIN licensed pharmaceutical facility, and now automated prescription fulfillment and on-site compounding infrastructure, we have managed to capture the entire product lifecycle,” he added. Champignon’s central fill capabilities optimizes the company’s prescription fulfilment infrastructure and advance its ketamine data collation initiatives for conditions like concussions and traumatic brain injury, anxiety and treatment-resistant depression. AltMed deal closes Separately, Champignon also told shareholders that it has closed the acquisition of AltMed Capital Corp, a Canadian ketamine clinic operator with strong research and development projects. AltMed recently purchased the balance of shares of the Canadian Rapid Treatment Centre of Excellence Inc, giving it full ownership of the facility. Under the terms of the transaction, Champignon issued just over 76million shares, of which 17.1 million will be subject only to applicable hold periods under securities legislation and 59 million will be subject to voluntary resale restrictions and released in five equal tranches every three months. Additionally, 2.1 million warrants will be issued in exchange for outstanding AltMed share purchase warrants. Champignon plans to open at least five new clinics in New York, Florida and California, which are anticipated to be fully operational by 4Q 2020. Contact Angela at [email protected] Follow her on Twitter @AHarmantas |
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Credit: WXYZ Detroit - Published
King Pharmacy in Detroit open with free delivery 01:57King Pharmacy in Detroit open with free delivery |