Love Pharma Inc. (CSE: LUV) (FSE: G1Q0) continues to prioritize the necessity for clinical validation as a vital step in bringing its products to market. The Vancouver, Canada-based company, which operates as a specialized health and wellness company that licenses and distributes psychedelic and cannabis-infused products, has established a practice of offering proven products with clinical data, user studies, and scientific research to support its claims. It's a practice that gives Love Pharma a distinct market advantage over many of its competitors. And now, Love Pharma is set to broaden that advantage with its recent announcement that the company has signed a Letter of Intent to acquire MicroDoz Therapy, Inc.
The benefit of this acquisition to Love Pharma, its shareholders and worldwide consumers is that the company gains MicroDoz's exclusive partnership with a world-renowned university to conduct a landmark study into the efficacy of psilocybin assisted treatment of cannabis use disorder. Love Pharma can leverage this relationship to further expand its product lineup, strengthen its clinical validation program, and add to its comprehensive portfolio of intellectual property.
Specifically, the acquisition will further substantiate the company's efforts to become a frontrunner in the psychedelics and therapeutics space. Love Pharma's Chief Executive Officer (CEO), Zach Stadnyk, said his company's existing portfolio, which consists of the exclusive rights to 7 novel therapeutic products focused on mental and sexual wellness, is already at the leading edge of innovation in the industry. So, continued new product development will further build upon what is already a strong foundation. Stadnyk's goal is to establish a growing and loyal customer base as the company seeks to define the psychedelics and therapeutics industry with solid science that leads to effective products.
When explaining the acquisition of MicroDoz Therapy, the CEO stated, "Science and efficacy are paramount to our strategy, as a result we seized the opportunity to acquire MicroDoz to expedite what will be a landmark study with a world-leading university."
As an entry point into the burgeoning psychedelics market, the company acquired the rights to the patent-pending psilocybin strip in addition to the acquisition of MicroDoz, which has the exclusive partnership to the landmark study at an unnamed leading global university. Love Pharma announced it expects to release the university's name along with details of the program when the definitive agreement is closed.
Psilocybin is the psychoactive chemical in "magic mushrooms," and the company's biosynthetic psilocybin-infused oral strip utilizes the already-proven and existing novel technology implemented for the company's mucoadhesive CBD strip product, "Auralief." Auralief, the company's discreet cannabis-infused oral strip that speeds-up and enhances the desired effects of THC and CBD, is supported by a recent human trial that demonstrated a greater than 30% increase in efficacy and speed to performance of THC and CBD.
Following the U.S. Food and Drug Administration's (FDA) "breakthrough" designation in 2018, psilocybin gained legitimacy in the mental health field. The breakthrough designation has prompted the FDA to fast-track drug trials using psilocybin, and it has become the empetus behind an emerging health and wellness market. Love Pharma has stated that ensuring the safety of users through reliable systems of accurate dosing remains of paramount importance. Achieving accurate dosing is difficult with botanicals; however, pioneering companies, including Love Pharma, are developing new extracted products designed to deliver the most consistently accurate dosing possible.
In late October, Love Pharma announced that it's currently developing a mucoadhesive sublingual strip. The Company is partnering with the strip's creator, a US-based pharmaceutical company, to develop the strip for use as a psilocybin delivery system.
And as prominent medical institutions and research facilities in the United Kingdom and the U.S. continue to conduct clinical studies and trials to determine the efficacy of psilocybin in treating a host of debilitating conditions, Love Pharma's acquisition should thrust the company into a leading role as it expedites what will be a landmark study into the efficacy of psilocybin assisted treatment of cannabis use disorder.
About Love Pharma Inc.
Love Pharma Inc. is a new-age pharma/nutraceutical company specializing in the global sexual health, wellness, and psychedelics markets. Founded in 2020, Love Pharma's mission is to bring innovative products to market that enhance sexual health and wellness while providing an improved quality of life. Love Pharma holds exclusive licenses to produce, market, package, sell, and distribute patent-protected therapeutic and pharmaceutical products throughout Europe, the United Kingdom, and North America.
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