Vireo Health Announces Name Change And Plans To Begin Psychedelics Research and IP Development Expansion

Goodness Growth Holdings, Inc., announced that its subsidiary, Resurgent Biosciences, plans to expand its IP property into the psychedelics space. Unlike the company's cannabis offerings, the new endeavor will not touch psychedelics for commercial production.

The announcement is the latest for the company, after yesterday's name change from Vireo Health International Inc. VREOF. Goodness Growth began trading under the GDNS symbol on the CSE, and GDNSF on the OTCQX at Tuesday's open.

Why Psychedelics And Why Not The Single-Molecule Path

Chairman and CEO Kyle Kingsley, M.D., said the expansion is the natural extension for Resurgent's team of scientists and medical experts.

"We believe the opportunities for psychedelics to transform the future of mental health and psychiatry are far too significant for us to ignore," he said in a press release.

Kingsley told Benzinga efforts will centralize on serotonin agonists psychedelics, with the company focused on whole-plant and whole-fungus type extracts.

Kingsley considers the move a "much larger opportunity" than the bulk of the market's focus on single molecules. He believes the single-molecule path will succeed for some, but "generally, people are interested in, kind of, a natural approach, a whole plant extract approach."

Not ready to make any additional statements at this time, Kingsley said the company should announce research initiatives and other endeavors in the coming months.

"We're looking to democratize this, get it more accessible to the masses," he told Benzinga about psychedelic treatment