Silo Wellness to acquire Canadian Discovery Science, maker of psilocybin for IBS treatment
silo wellness (SILFF), a growth oriented holding company Has submitted a non-binding letter of intent focusing on functional mushrooms and psychedelic opportunities Complete Acquisition of Discovery Science Ltd., Toronto-based biotech Discovery is involved in the biosynthetic manufacturing of psilocybin and targeting its derivatives Irritable Bowel Syndrome (IBS),
Discovery’s recent research collaboration with Canadian federal government research laboratories aims to develop a process for the production of psilocybin and its potentially novel molecule derivatives.
The results so far appear to be positive, as Silo Wellness is set to play a major role in the company’s operations.
“The Discovery team has spent the past two years looking at emerging psychedelic pharmaceutical startups and then testing them against the market. What can they produce through value and what models work? Which pharma in natural plant molecule Are the deals successful space?” The founder and president of Discovery said Brian Dottin. “We saw that most of the original shareholders lost considerable value with the rest of the sector after the initial marketing push. We wanted to develop something unique with our public and private research collaborations.”
Therefore, a novel focus of studies is: They test the anti-inflammatory effects of psilocybin with intended clinical trials.
“With access to Canada’s federal government research laboratories for the development of biosynthetic manufacturing processes, a university laboratory for animal studies, and a DEL facility for pre-clinical research, human capital is potentially wasteful capital expenditure. But priority,” Dottin continued.
That is to say, Discovery is well prepared for a more serious and in-depth study that could provide a solution for people suffering from this specific gut syndrome.
description of transaction: Subject to due diligence process and completion of certain agreements, Silo Wellness will acquire 100% of Discovery’s shares, in exchange for 49% of the outstanding securities issued by it.
Photo courtesy of Pixabay.
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