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A Contract Research Organization (CRO) and a wholly-owned subsidiary of Wellbeing Digital Sciences Inc. (OTC:KONEF), KGK Science’s application for a Controlled Drugs And Substances (CDS) dealers license with Health Canada has been approved to proceed with the buildout of a level 5 security system at its research facility in London, Ontario.
See also: Adastra Clarifies Health Canada Approval To Handle Cocaine
After being completed and inspected this spring, KGK expects to receive the license which will allow the company to lawfully possess, import, sell and study several controlled substances including psilocybin, LSD, DMT, ketamine and MDMA for medical and research purposes.
CEO of Wellbeing and KGK Najla Guthrie, who will be speaking at our upcoming psychedelics event, commented: “Pursuing this License will enable us to process, formulate and perform the scientific tests required for our clients to move these promising treatments to market in a timely manner once the industry matures, ultimately staying at the forefront of drug development and regulations.”
Guthrie believes it is “yet another step” towards the companies’ goal of maintaining their position as leaders in the field as well as create safe and effective alternative treatments leveraged by the Wellbeing North American clinical network in order to meet the growing patient demand and “ultimately creating additional shareholder value.”
Should the dealer’s license be granted, KGK would be entitled to possess up to 1,000 grams of psilocybin, LSD, DMT, ketamine and MDMA at any time and can sell it to other companies with a valid dealer’s license.
Furthermore, the company would be allowed to process and formulate various psychedelic compounds targeting different physical and mental conditions.
Get your tickets to Benzinga's Psychedelics Capital Conference HERE.
Photo: Benzinga edit with photo by Susie Hedberg and C4289N on Shutterstock.
Posted In: KONEF
