Benzinga | Oct 6, 2021 11:16AM EDT

Delic Labs Applies For Dealer's License To Work With MDMA And LSD For Medical Purposes

Psychedelic wellness platform Delic Holding Corp Inc. (CSE:DELC) (OTCQB:DELCF) (FRA:6X0) said Wednesday that Delic Labs has applied for a Health Canada 56 Research Exemption that would allow the scientists to perform research and tests on a host of compounds outside of psychedelic mushrooms, including MDMA and LSD.

The move follows the company's recent announcement that it's merging with Ketamine Wellness Centers Arizona LLC in a $10 million deal and partnership with Paradigm Healthcare to bring state-of-the-art testing to Ketamine Infusion Centers LLC.

Currently, the lab holds a 56 Research Exemption for chemistry analytics on psilocybin mushrooms.

In addition, the lab has applied for a Dealer's License and plans to commercialize its psilocybin research and associated intellectual property for medical and research purposes.

Matt Stang, co-founder and CEO of Delic Corp, said that "never before has a lab been authorized to test psychedelic compounds such as MDMA and LSD," as part of the development of new medicines for those suffering from depression, anxiety, PTSD and Parkinson's disease.

"Delic Labs is leading the way in psychedelic compound testing and ensuring the safety and effectiveness of any treatments produced using them, while also actively researching potential new medicines for the market," Stang added.

Dr. Markus Roggen, a co-founder of DELIC Labs, said that obtaining the Dealer's License will "greatly expand our capabilities to work with other banned substances, such as MDMA and LSD, along with psilocybin to develop new psychedelic drugs for medical and research purposes."

Delic Labs is a federally licensed psilocybin and cannabis research laboratory that conducts research and developing innovative product lines and intellectual property, including psilocybin vaporization technology for future distribution across Delic Holding's physical footprint and licensed psychedelic wellness clinics in the U.S.

Price Action

Delic's shares traded 3.99% lower at $0.2093 per share at the time of writing, Wednesday morning.

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