Swedish pharmaceutical company Klaria Pharma Holding AB yesterday announced that it has entered into an exclusive agreement with Pure Jamaican Group of Companies to conduct research and development (R&D) and commercialisation of the Jamaican company’s products made from a mushroom extract called psilocybin.
According to Klaria Pharma CEO Jesper Wiklund, “Psilocybin has the potential to fundamentally change the treatment of a range of psychiatric conditions, including depression and post-traumatic stress disorder (PTSD). Klaria’s patented delivery technology has the potential to dramatically improve the precision and pharmacokinetics of psilocybin administration, as compared to oral delivery, which is today the de facto administration method for psilocybin.
In particular, Klaria will seek to patent and distribute the psilocybin products for Pure Jamaican’s Montego Bay-based subsidiary Seven-10. In doing so, the Swedish company aims to contribute to global efforts to improve mental health science.
“This exciting partnership with Pure Jamaican, supported by the Government of Jamaica, brings us one step closer to that goal. Not only has Pure Jamaican established extremely high standards for modern botanical cultivation and
pharmaceutical science in Jamaica, but they also understand the precise and rigorous requirements in
making pharmaceutical products,” Wilkund noted.
At present, Klaria is developing a pipeline of pharmaceutical projects, including treatments for migraines and anaphylactic shock. Its partnership with Pure Jamaican will foster the manufacturing of Alginate Film products containing psilocybin for mental health applications, and will create distribution networks and international sales for the products.
“Klaria’s patented Alginate Film technology is a great delivery system for precision-dosed, pharmaceutical-grade botanicals. The handling of it also requires far more robust levels of production rigor, documentation, testing and regulatory approvals, which are all paths that we are well equipped to follow,” Scott Cathcart, co-founder & CEO of Pure Jamaican, explained.
“We are very impressed with the Klaria technology and, with the requisite approvals from our regulatory agencies within the Government of Jamaica, we look forward to producing pharmaceutical versions with Jamaican cannabinoids and psilocybin for export to legal countries globally,” he continued.
Prior to this, both companies had signed an agreement to conduct R&D and develop an international distribution network for Alginate Film products that contain cannabinoid active pharmaceutical ingredients used in medicines.
In this regard, Pure Jamaican aims to build out its pharmaceutical manufacturing operations, an R&D innovation centre, and a global supply chain of plant-derived pharmaceuticals, including cannabinoids and psilocybin, in Jamaica.
Furthermore, the company plans to combine its extensive botanical production with world-class pharmaceutical manufacturing in Montego Bay, so as to produce premium-quality, pharma-grade goods for widescale export to major international players in the pharmaceutical and consumer sectors.
This it will do with support of its leadership, which includes medicinal cannabis industry veterans in the US, Canada, Jamaica, Mexico, and Israel.
“This is an example of our commitment to bring world-class technology, pharmaceutical manufacturing, and economic opportunity to Jamaica. We are proud to partner with both Klaria and Jampro, and to play a leadership role in the global effort to elevate the medical standards for the production, delivery and consumption of cannabinoids, psilocybin, and other plant-derived molecules to come,” Cathcart stated.
The announcement of this partnership between yesterday preceded the opening of the two-day CanEx Jamaica Psychedelics Summit, which begins today.
With regard to Jampro’s contribution to the partnership, president of the organisation, Diane Edwards, the deal signalled that Jamaica is quickly becoming an destination for investing in science and technology.
“Being able to attract new intellectual property to our shores, and to begin building a reputation as a global leader, manufacturer, and exporter of a new pharmaceutical delivery system for medicinal cannabis and psilocybin are exciting economic development opportunities for our country. We look forward to further conversations with Pure
Jamaican, Klaria and the leaders of CanEx Jamaica Psychedelics this week,” she added.