- Opportunity to participate in all levels of the industry value chain
- Licence includes a comprehensive list of available psychedelic substances
- Expected to start operations once Patient Access to Psychedelic Substances Regulations are officially adopted by Saint Vincent and the Grenadines
Toronto, Ontario--(Newsfile Corp. - March 24, 2022) - InnerPath Wellness LTD. (Private Company) (hereto "InnerPath"), a psychedelic therapeutics company focussed on the evolution of mental healthcare and wellness through integrative, psychoactive medical therapies, has received a federal Medicinal Industry Development Licence ("Licence") from The Government of Saint Vincent and the Grenadines ("SVG").
SVG is establishing a National Modern Health and Wellness Industry using plant, fungi and synthesised compounds, broadly classified as psychedelics, for medical use. The desired outcome of the National Modern Health and Wellness Industry is a commercially viable, science-based, health and wellness ecosystem in SVG.
The Licence is granted in accordance with the SVG Standards Act and permits InnerPath to conduct and participate in the following activities in the industry value chain:
- Research;
- Cultivation;
- Production;
- Development and Extraction;
- Processing;
- Importation and Exportation; along with
- Prescribed Patient Access and Dispensation in authorised Clinical Treatment Facilities.
Furthermore, the licence applies to, and/or includes, but not limited to, the following comprehensive list of substances/plants/fungi:
- Turmeric;
- Aloe Vera;
- Papaya;
- Arrowroot;
- Soursop;
- Coconut;
- Ginger;
- Moringa;
- Peyote;
- Ayahuasca;
- Mushroom;
- lboga;
- Sassafras;
- Psilocybin;
- Ibogaine;
- Lysergic Acid Diethylamide (LSD);
- Ketamine;
- Mescaline;
- Dimethyltryptamine (DMT);
- 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT); and
- 3-4-Methylenedioxy-Methamphetamine (MDMA).
On March 13, 2022 there was a public announcement, issued by the SVG Bureau of Standards Executive Director, Ezra Ledger, outlining the developments of the National Modern Health and Wellness Industry (Here is a link to that announcement re-posted by Vincentian, the national newspaper of SVG). The announcement articulated that there are three Pioneer Licensees; pioneering the Medicinal Wellness Feasibility Study to prove out, and lead to, the final National Modern Health and Wellness Industry. InnerPath becomes the fourth and final Pioneer Licensee participating in the Medicinal Wellness Feasibility Study, referenced in the March 13, 2022 SVG Bureau announcement.
"InnerPath's initial focus is to launch with treatment programs held in resort settings on SVG and designed to provide a personalised psychedelic-assisted therapeutic experience that meets our clients individual goals, from reducing symptoms of depression, anxiety, and PTSD to improving substance use disorders, interpersonal conflict resolution and physical ailment concerns," said Mark Goliger, CEO of InnerPath Wellness LTD. "It is an absolute honour, continues Mr. Goliger, to set-up and launch these services in a legal, and soon to be, regulated market like SVG. To my knowledge, it is the first country in modern times to create a legal and regulated framework for the scope of psychedelics and scale of activities listed in the licences."
"This is an incredible opportunity to provide psychedelic-assisted therapies and professional training in a federally regulated geography, said Irie Selkirk, Vice President Operations of InnerPath Wellness LTD. (and past founder of Rise Wellness Retreat). "When I founded Rise Wellness, a psilocybin retreat in Jamaica in 2019, continues Ms. Selkirk, we had hoped that federal regulation would eventually transpire. Although decriminalised, Jamaica remains an unregulated psychedelics market. SVG's establishment of a legal, regulated market sets them apart from other countries and increases access for patients outside of clinical trials and underground therapies. It also provides security and liability coverage to licensed professionals seeking practical development, thus increasing the number of trained providers worldwide."
InnerPath expects to start operations once the Patient Access Regulations are finalised and formally adopted by SVG.
"We have been very impressed by the InnerPath team. Their diverse experience and success in regulated markets and the psychedelics industry will benefit SVG's new Modern Health and Wellness Industry." Said the Minister of Agriculture, Forestry, Fisheries, Rural Transformation, Industry, and Labour, Hon. Saboto Caesar. "This is an industry that has great potential; a potential that can only be reached through collaboration between government and industry." Continues Minister Caesar. "We look forward to working with InnerPath to ensure safety, security and success with this new industry."
InnerPath is committed to working with the Pioneer Licensees, the various SVG Government Agencies, and the local SVG communities in establishing a successful National Modern Health and Wellness Industry; one that makes a positive difference to domestic patients, international patients and to furthering the psychedelics industry as a whole.
About InnerPath Wellness LTD.
InnerPath Wellness is a psychedelic therapeutics company improving how mental health disorders are treated. Our integrative approach innovates upon years of psychedelic, psychiatric and psychopharmacological research, study and application; and is vested in centuries of traditional medicine and community care models.
For additional information:
Mark Goliger
Chief Executive Officer and Director
Email: mgoliger@innerpathwellness.co
Website: www.innerpathwellness.co
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117932
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
