Entheon Biomedical’s Subsidiary HaluGen and Silo Wellness Announce Psychedelics Genetic Test Kit Partnership
VANCOUVER, B.C.–Entheon Biomedical Corp. (CSE: ENBI) (OTCQB: ENTBF) (FSE: 1XU1), a biotechnology company focused on developing psychedelic medicines to treat addiction, and Silo Wellness Inc. (CSE: SILO) (OTC: SILFF) (FSE:3K70), a functional and psilocybin mushroom company and psychedelic wellness retreats operator, have signed a referral agreement, to help drive brand awareness of the Psychedelics Genetic Test kit, developed and commercialized by wholly-owned subsidiary HaluGen Life Sciences Inc., as well as empower guests at Silo Wellness’ retreats to make informed decisions through better access to information about themselves.
Silo Wellness is a publicly traded company on the CSE with a consumer-facing platform for the sale of functional mushroom products, psilocybin mushroom production in Jamaica, and the facilitation of psychedelic wellness retreats in both Jamaica and Oregon that incorporate a variety of psychedelic-augmented therapies. The intention of the Agreement is for Silo Wellness to provide referral and marketing services for HaluGen’s Psychedelics Genetic Test, representing an opportunity to expand access and visibility for the test, which was launched in the US on June 6, 2021. Silo Wellness will receive compensation on each referral made to HaluGen.
The genetic test, a first of its kind, identifies specific DNA biomarkers in order to gauge the risk and potential of adverse reactions toward hallucinogenic drugs. The test provides users with personalized reports and actionable insights, delivered directly to one’s smartphone, providing a convenient and safe means to better understand an individual’s sensitivity to classical psychedelics and ketamine. The test also provides insights into the short- and long-term potential of psychedelic-induced risks, such as psychosis.
“We’re pleased to be partnering with the innovative team at Silo Wellness who are focused on providing legal access to professionally administered wellness retreats which integrate a variety of psychedelic therapies,” said Entheon Chief Executive Officer, Timothy Ko. “Increased visibility and access to the Psychedelics Genetic Test through Silo Wellness’ broad network furthers our commitment and ability to provide tools and knowledge to help individuals make informed decisions surrounding the consumption of psychedelics.”
“With this Entheon and HaluGen relationship, we can empower our guests to make data-informed decisions to join us for psychedelic experiences with ketamine and psilocybin and soon, 5-MeO-DMT,” said Silo Wellness Chief Executive Officer, Douglas K. Gordon. “It’s all about ‘set and setting’ with our psychedelic retreats, and one’s mindset is affected by their personal anxieties about the medicine and fears of potential adverse reactions. The more opportunity we can give consumers to access information about themselves in advance of a session, the better.”
Cautionary Note on Forward Looking Information
This news release includes certain forward-looking statements and forward-looking information (collectively, “forward-looking statements“) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to the issuance of the Compensation Shares, generation of revenue by the Company and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “will”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, the Company being able to follow through with anticipated business plans and timing of future activities of the Company and Silo Wellness, sales and referrals, if any, and the business operations of the Company and Silo Wellness.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
(This information is primarily sourced from Entheon. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).
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