CALGARY, AB, Jan. 26, 2022 /CNW/ - Universal Ibogaine Inc. (TSXV: IBO) ("UI" or the "Company") a life sciences company with a mission to develop and deliver medicalized ibogaine-centered addiction care, is pleased to advise it has entered into an agreement (the "agreement") with Psygen Labs Inc. ("Psygen") to secure a supply of GMP ibogaine for use in its planned future clinical trial for opioid use disorder and ongoing ibogaine detox treatments at its clinics.
UI is in process of finalizing its pre-clinical trial ("pre-CTA") submission to Health Canada, following which it intends to apply to undertake a clinical trial of ibogaine for use in treatment of opioid use disorder(s). The final approval by Health Canada will require UI to have an approved, secure supply of GMP certified ibogaine to use in the eventual clinical trial process. Psygen is a Canadian company based in Calgary and is a leader in the manufacture of a range of medical grade products being used in the emerging psychedelics-based psycho-therapy field of treatment of anxiety, depression and other mental health issues.
The agreement covers basic terms as to pricing, manufacture, and delivery of ibogaine to UI, and a definitive drug supply agreement is to be finalized in the near future, incorporating such factors as the volume of ibogaine that will be required, based on the ultimate size of the of the patient group required for the planned clinical trials.
Nick Karos - Universal Ibogaine CEO
Nick Karos noted "We are pleased to have secured a firm of Psygen's caliber as one of our key partners. Ibogaine has been used in tribal ceremonies in Africa for centuries and has traditionally been sourced for medical use from the root bark of a shrub found in limited areas of the Congo basin in Africa. Psygen has developed a process to manufacture synthetic ibogaine, which will provide a more secure and sustainable source of supply for our trials and a scalable solution for our treatment protocol to help as many people as possible. We look forward to a long-term partnership with Psygen as part of our goal of having ibogaine approved for wide-scale use in opioid detoxification and addiction treatments."
About Universal Ibogaine Inc.
UI is a life sciences company, with a mission to demonstrate the safety and efficacy of its ibogaine based drug detox protocol through a Canadian Clinical Trial, and ultimately to utilize that protocol around the globe through future licensing agreements. UI is concurrently developing a state of the art holistic addiction treatment protocol at its Kelburn Clinic that, when paired with the ibogaine detox protocol, is intended to revolutionize the way we treat addiction and drastically improve the lives of individuals and families affected by addiction.
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release may contain forward-looking statements and information. Forward-looking information is frequently characterized by words such as "plans", "expect", "project", "intend", "will", "believe", "anticipate", "estimate", "scheduled", "potential", or other similar words, or statements that certain events or conditions "may", "should" or "could" occur. The forward-looking statements and information are based on certain key expectations and assumptions made by UI. Although UI believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because UI can give no assurance that they will prove to be correct.
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