VANCOUVER, British Columbia, March 19, 2022 (GLOBE NEWSWIRE) — CoreOne Labs Inc. (CSE: COOL), (OTC: CLBF), (Frankfurt: LD6WKN: A3CSSU) (the “society” or “core one”) announces that following its recently announced developments, it is actively working to explore investment and potential acquisition opportunities by strategic psychedelics or pharmaceutical companies.
“Acquisition or investment by a large pharmaceutical company could be mutually beneficial. As more research comes to light on the use of psychedelics to treat depression, addiction, and other mental and cognitive disorders, the market size for psychedelics will increase, and big pharmaceutical companies may seek to consolidate the industry to ensure this is the case a strong drug pipeline in the future,said Joel Shacker, CEO of Core One.
About Core One Labs Inc.
Core One Labs is a life sciences biotechnology research and development company focused on bringing psychedelic medicines to market through the development and production of psychedelic compounds, the advancement of psychedelic-assisted treatments, and the integration of novel delivery systems.
The Company pursues a multi-faceted business approach and incorporates multiple complementary businesses and entities to establish itself as an industry leader in the fast-growing and emerging psychedelics market.
Core One, through its wholly owned subsidiary Vocan Biotechnologies Inc., has developed and patent pending a proprietary psilocybin production system using man-made bacteria. It is also the holder of 4 provisional patents for the development of psychedelics-based pharmaceutical formulations targeting neurological and mental disorders under its 100% subsidiary, Akome Biotech Ltd., and 3 provisional patents under its other 100% subsidiary, Awakened Biosciences Inc. for additional synthesis technologies for psilocybin and psilocin production methods.
In addition to developing psychedelics and psychedelic compounds, Core One has interests in four medical clinics, which maintain a combined database of more than 275,000 patients. Through its clinics, the Company intends to integrate a rollout of its intellectual property related to psychedelic technologies and engage in the advancement of psychedelics-based treatments for mental health disorders.
CoreOne Labs Inc.
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The Canadian Securities Exchange has not reviewed the contents of this press release and accepts no responsibility for the adequacy or accuracy of the contents of this press release.
The information contained in this press release contains forward-looking statements that are based on assumptions as of the date of this press release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. These factors include, among others: risks and uncertainties related to the Company’s limited operating history and the need to comply with strict regulatory requirements. Accordingly, actual and future events, conditions and results could differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking information.
Additionally, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offense to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription or permit. Health Canada has not approved psilocybin as a drug for any indication. Core One is not directly or indirectly involved in the illegal sale, production or distribution of psychedelic substances in the jurisdictions in which it operates. While Core One believes that psychedelic substances can be used to treat certain medical conditions, it does not advocate the legalization of psychedelic substances for recreational use. Core One does not deal with psychedelic substances except as part of laboratory and clinical trials conducted within approved regulatory frameworks.