Allied Corp Progresses Towards Clinical Phase I Trial for Psilonex™ RX Psilocybin Pharma Drug

KELOWNA — Allied Corp. (OTCQB: ALID) announced the advancement of their Psilonex™ RX human clinical phase I trial.

Allied has now sourced the active pharmaceutical ingredients contained in Psilonex™ and is now moving towards producing the Psilonex™ to be used at one of the three clinical research sites that we are currently evaluating. This human clinical phase I trial seeks a pharmaceutical drug indication of depression, anxiety and PTSD.

Under the direction of Allied’s pharmacist Mr. Jim Smeeding, Director and VP of Pharma of Allied Corp, Psilonex™ RX has been formulated with a purposeful concentration of medicinal ingredients. This psilocybin product includes a proprietary formulation of extracted psilocybin, other functional mushroom extracts as well as a proprietary vitamin constituency.

Allied has what it believes to be a unique approach to the treatment of general depression, anxiety and PTSD. Initially, patients are prescribed Psilonex™ RX (the psilocybin-based product) followed by a daily product of cannabidiol (CBD) called Psilonex™ Daily.

The target pharmaceutical markets for the Psilonex™ RX product are depression estimated at US$12.2B, anxiety US$10.9B and PTSD US$7.3B. Click this link to see information source.

“Through our sponsored retreats, we have had multiple people report the benefits of psilocybin-based medicine. This led us to investigate and ultimately acquire of Pacific Sun Fungi and its 6 psilocybin products. These products that have been reported anecdotally to have positively helped those suffering with PTSD, depression and anxiety. What Allied is now doing is bringing the research and academic foundation to support these products in order to commercialize them through the legal pharmaceutical supply chain,” said Mr. Calum Hughes, CEO and Chairman of Allied Corp.

(This information is primarily sourced from Allied Corp.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).