CALGARY, AB, Jan. 26, 2022 /CNW/ - Universal Ibogaine Inc.
(TSXV: IBO) ("UI" or the "Company") a life sciences
company with a mission to develop and deliver medicalized
ibogaine-centered addiction care, is pleased to advise it has
entered into an agreement (the "agreement") with Psygen Labs
Inc. ("Psygen") to secure a supply of GMP ibogaine for use
in its planned future clinical trial for opioid use disorder and
ongoing ibogaine detox treatments at its clinics.
UI is in process of finalizing its pre-clinical trial
("pre-CTA") submission to Health Canada, following which it
intends to apply to undertake a clinical trial of ibogaine for use
in treatment of opioid use disorder(s). The final approval by
Health Canada will require UI to have an approved, secure supply of
GMP certified ibogaine to use in the eventual clinical trial
process. Psygen is a Canadian company based in Calgary and is a leader in the manufacture of
a range of medical grade products being used in the emerging
psychedelics-based psycho-therapy field of treatment of anxiety,
depression and other mental health issues.
The agreement covers basic terms as to pricing, manufacture, and
delivery of ibogaine to UI, and a definitive drug supply agreement
is to be finalized in the near future, incorporating such factors
as the volume of ibogaine that will be required, based on the
ultimate size of the of the patient group required for the planned
clinical trials.
Nick Karos - Universal
Ibogaine CEO
Nick Karos noted
"We are pleased to have secured a firm of Psygen's caliber as one
of our key partners. Ibogaine has been used in tribal
ceremonies in Africa for centuries
and has traditionally been sourced for medical use from the root
bark of a shrub found in limited areas of the Congo basin in Africa. Psygen has
developed a process to manufacture synthetic ibogaine, which will
provide a more secure and sustainable source of supply for our
trials and a scalable solution for our treatment protocol to help
as many people as possible. We look forward to a long-term
partnership with Psygen as part of our goal of having ibogaine
approved for wide-scale use in opioid detoxification and addiction
treatments."
About Universal Ibogaine Inc.
UI is a life sciences
company, with a mission to demonstrate the safety and efficacy of
its ibogaine based drug detox protocol through a Canadian Clinical
Trial, and ultimately to utilize that protocol around the globe
through future licensing agreements. UI is concurrently
developing a state of the art holistic addiction treatment protocol
at its Kelburn Clinic that, when paired with the ibogaine detox
protocol, is intended to revolutionize the way we treat addiction
and drastically improve the lives of individuals and families
affected by addiction.
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
This news release may contain forward-looking
statements and information. Forward-looking information is
frequently characterized by words such as "plans", "expect",
"project", "intend", "will", "believe", "anticipate", "estimate",
"scheduled", "potential", or other similar words, or statements
that certain events or conditions "may", "should" or "could"
occur. The forward-looking statements and information are
based on certain key expectations and assumptions made by
UI. Although UI believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because UI can give no assurance that
they will prove to be correct.
Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks, which
include, but are not limited to, risks that required regulatory
approvals are not obtained. The reader is cautioned that
assumptions used in the preparation of such information, although
considered reasonable by UI at the time of preparation, may prove
to be incorrect and readers are cautioned not to place undue
reliance on forward-looking information, which speaks only to
conditions as of the date hereof. UI does not undertake any
obligation to release publicly any revisions to forward-looking
information contained herein to reflect events or circumstances
that occur after the date hereof or to reflect the occurrence of
unanticipated events, except as may be required under applicable
securities laws.
Related Links
https://universalibogaine.com
SOURCE Universal Ibogaine Inc.