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Psyched Wellness completes largest AME-1 extraction to date to support preclinical studies on Amanita-derived products

Psyched Wellness Ltd announced it has completed its largest extraction of AME-1 to date.  The life sciences company, which produces and distributes functional and psychedelic mushrooms, said it successfully shipped the product to its partner labs in Asia to complete preclinical studies.  Around 20 kilograms (kg) of raw material was used to generate nearly 4.2kg of AME-1, Psyched said in a statement.  READ: Psyched Wellness appoints communications and public affairs expert Amanda Galbraith to its board The shipment should be able to supply enough material for a 90-day toxicity study, as well as research on the neurobehavioural effects and the conditioned place preference test, the company added. The studies are required to submit AME-1 as a new dietary ingredient in the US and as a natural health product in Canada. “We are extremely happy with the progress of our product development process and are pleased with the results that we are seeing,” said David Shisel, COO of Psyched Wellness. “Completing this extraction successfully was a very important milestone and the resulting material should be sufficient to complete the remainder of our pre-clinical work.” Jeff Stevens, Psyched’s CEO, told shareholders that the company is getting closer to bringing its Amanita-based CPG products to market. “We believe Amanita will have a sustainable commercial and societal impact, and we are passionate about creating products which will have the power to assist with stress relief, relaxation, and restful sleeping,” Stevens added. Based in Toronto, Psyched Wellness is developing a line of Amanita muscaria-derived water-based extracts, teas and capsules designed to help with three health objectives: promote stress relief, relaxation and assist with restful sleeping. Contact Angela at angela@proactiveinvestors.com Follow her on Twitter @AHarmantas