Field Trip Health Ltd. Announces Official Opening of Psychedelic Research and Cultivation Facility in Jamaica

Rhea-AI Summary

Field Trip Health Ltd. has launched the Field Trip Natural Products Limited Research and Development Laboratory for Psychedelic Fungi in Jamaica, marking the world's first legal facility dedicated to psilocybin research. This initiative is part of a strategic partnership with the University of the West Indies and aims to enhance the understanding of plant-based psychedelics for improving mental health conditions such as depression and PTSD. The facility will focus on breeding, genetics, and drug formulation, led by Professor Rupika Delgoda.

Positive

• First legal facility globally dedicated to psilocybin research.
• Strategic partnership with the University of the West Indies enhances research credibility.
• Potential for advancements in psychedelic therapies for mental health.

Negative

• None.

The laboratory, which is the first facility dedicated exclusively to the study of plant-based psychedelics, is being launched in partnership with University of the West Indies 

TORONTO, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Field Trip Health Ltd. (CSE: FTRP; FTRP.WT; OTCQX: FTRPF) ("Field Trip"), a leader in the development and delivery of psychedelic therapies, is pleased to announce the official opening of the Field Trip Natural Products Limited Research and Development Laboratory for Psychedelic Fungi in Mona, Jamaica. The research facility, which is opening as part of Field Trip’s previously announced strategic partnership with the University of West Indies, is the world’s first legal research and cultivation facility dedicated exclusively to psilocybin-producing mushrooms and other plant-based psychedelics.

“Clinical studies on psilocybin and other plant-based psychedelic compounds have shown that they have great potential to produce profoundly positive changes in individuals, particularly those struggling from serious mental health conditions like anorexia, depression and PTSD,” said Dr. Nathan Bryson, Field Trip’s Chief Science Officer. “With the opening of this facility, Field Trip and UWI will be leaders in the understanding of psilocybin-producing fungi and how they can be best utilized in a treatment setting.”

The work at the new facility will leverage the research and development efforts that have been conducted by Field Trip at a temporary facility at UWI since January 2020, and will be broad-ranging, from genetics, breeding and cultivation work on many of the 180+ plus recorded species of psilocybin-producing mushrooms, to developing analytical methods for quality control, identification of novel molecules, as well as extractions and formulations for drug development purposes. Research at the Facility will be led by Rupika Delgoda, Professor of Biochemical Pharmacology & Pharmacognosy and Director of the Natural Products Institute at UWI, who holds a D.Phil. from Oxford University (UK) in Pharmacology.

Pro Vice Chancellor and Principal at UWI, Mona, Professor Dale Webber added, “Field Trip has positioned itself as a global leader in the research and delivery of psychedelic-assisted psychotherapy and we look forward to working with its team in progressing the global conversation and understanding of psychedelic compounds. We are confident that this state-of-the-art facility and partnership with Field Trip will foster a wealth of innovation for the future of mental health research and therapies, even as we contribute to the regulatory framework that the Government of Jamaica (GOJ) is currently developing.” 

“Though science has been the primary catalyst for the psychedelic renaissance we’re in the midst of, the regulatory and legal environment is not far behind. We see this in the breakthrough therapy designations for psilocybin granted by the FDA. We see this in the success of Measure 109 in Oregon. We see this in the planned introduction of legislation for access to psilocybin therapies in California, Florida, Hawaii and Connecticut. We see this in the s. 56 compassionate access exemptions in Canada,” said Ronan Levy, Field Trip’s Executive Chairman. “However, in order for the full potential of these therapies to be realized, it’s critical that we rigorously research, test and understand not only how they work in the body, but also how we can best produce these drugs and products and make available to those who need them where we are legally able to do so.” 

The Field Trip Natural Products Limited Research and Development Laboratory for Psychedelic Fungi will officially open with a Grand Opening Ceremony on Tuesday, February 9^th at 2PM EST. The virtual ceremony will be broadcast live and feature remarks from Field Trip executives, representatives from the University of the West Indies as well as The Honorable Daryl Vaz, the Minister of Science, Energy and Technology of Jamaica. 

About Field Trip Health Ltd.

Field Trip is a global leader in the development and delivery of psychedelic therapies. With our Field Trip Discovery division leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics including psilocybin-producing fungi and our Field Trip Health division building centers for psychedelic therapies opening across North America and Europe along with the digital and technological tools that will enable massive scale, we help people, from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world. 

Learn more at https://www.meetfieldtrip.com, https://www.fieldtriphealth.com and https://www.fieldtriphealth.nl. 

Follow us on Twitter and Instagram: @fieldtriphealth

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For further information, contact Ronan Levy, Executive Chairman and a Director at Field Trip, at 1 (833) 833-1967. 

Cautionary Note Regarding Forward-Looking Information. 

This release includes forward-looking information within the meaning of Canadian securities laws regarding Field Trip and its business, which may include, but are not limited to, statements with respect to the listing of the common shares of Field Trip on the Canadian Securities Exchange, and the timing of such events. Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of Field Trip and are based on assumptions and subject to risks and uncertainties. Although the management of Field Trip believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the COVID-19 epidemic, the medical clinic industry, market conditions, economic factors, management's ability to manage and to operate the business and the equity markets generally. Although Field Trip has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Field Trip does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Neither the Canadian Securities Exchange, nor its Regulation Services Provider, nor the OTC Markets have approved the contents of this release or accept responsibility for the adequacy or accuracy of this release.

Media contacts:
Nick Opich
KCSA Strategic Communications
212-896-1206
nopich@kcsa.com / fieldtrip@kcsa.com

Investor contacts:
Elizabeth Barker
KCSA Strategic Communications
212-896-1203
ebarker@kcsa.com

SOURCE Field Trip Health Ltd.

FAQ

What is the significance of Field Trip Health's new laboratory in Jamaica?

The laboratory is the first legal facility dedicated to the study of psilocybin and aims to advance research in plant-based psychedelics for mental health therapies.

When was the Field Trip Natural Products Limited Research Laboratory officially opened?

The laboratory officially opened on February 9, 2021.

Which institution is partnering with Field Trip Health for the new laboratory?

Field Trip Health is partnering with the University of the West Indies for the new laboratory.

What are the primary research focuses of the new psychedelic laboratory?

The laboratory will focus on genetics, breeding of psilocybin mushrooms, quality control methods, and drug formulation.

How does the new laboratory align with trends in psychedelic research?

The laboratory aligns with the increasing regulatory support for psychedelic therapies, evidenced by recent legislation in various U.S. states and Canadian initiatives.