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Panacea Plant Sciences submits comments on psychedelics, cannabis to DEA

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Calls for increased production of Psilocybin, Mescaline, DMT, Bufotenine, Ibogaine, LSD

Panacea Plant Sciences is excited about the momentum that the medical use of cannabis and psychedelics have across the world. We are glad to see that the DEA is beginning to increase research”

— Panacea Plant Sciences CEO – David Heldreth

BELLEVUE, WASHINGTON, UNITED STATES, September 17, 2021 /EINPresswire.com/ — Panacea Plant Sciences has asked the United States Drug Enforcement Administration to increase the production of several psychedelic drugs in recent comments to the agency.

On September 2 the DEA announced policy changes to increase the production of cannabis and psilocybin for research and development of medical therapies. This was part of an update to the overall plan for controlled substance research needs. Panacea Plant Sciences supports the DEA move to increase production for cannabis and psilocybin, but suggested the DEA increase production of: mescaline, DMT, bufotenine 5-MEO-DMT, ibogaine, LSD, and MDMA additionally.

“Panacea Plant Sciences is excited about the momentum that the medical use of cannabis and psychedelics have across the world.” CEO David Heldreth said. “We are glad to see that the DEA is beginning to increase research.”

Panacea Plant Sciences also suggested the DEA begin licensing production of psilocybin containing fungal bodies and fungal body extracts in addition to psilocybin/psilocin isolated. A similar process would be mirrored with other psychoactive plants, fungi and lifeforms. This shift will allow for more in depth research on the synergy or entourage effect provided through the use of the whole natural product or an extract versus the isolated compound.

Panacea Plant Sciences believes the evidence shows that a number of plant and fungi derived compounds show potential for medical therapies. The company has developed a number of patent pending technologies around cultivation, manufacturing, medical treatments which focus on psychedelics and cannabis. This is more commonly known as the entourage effect when applied to cannabis.

Panacea Plant Sciences has partnerships with DEA licensees across the country and is expanding with new research facilities in Washington State. DEA licensing for the WA location is expected in 2021-22.

The DEA comment period regarding controlled substances and psychedelic research is scheduled to close on October 4. Panacea Plant Sciences has asked the DEA to extend the comment period until October 17 to give the public more time to respond to such an important topic due to technical difficulties with the DEA public comment process. Although the DEA published the document and opened the comment period September 2, the public comment website was not made live until September 15 after Panacea Plant Sciences contacted the DEA to alert them.

Those who wish to comment on the policy can visit:

https://www.regulations.gov/document/DEA-2020-0026-0298

or mail comment to:

Drug Enforcement Administration, Attention: DEA Federal Register Representative/DRW, 8701 Morrissette Drive, Springfield, Virginia 22152.

About Panacea Plant Sciences
Panacea Plant Sciences is a biotechnology company focused on cannabis, psychedelics and developing new methods of agriculture, foods and medicines which incorporate rare and valuable species of bacteria, fungi, and plants.

This press release contains ‘forward-looking information’ within the meaning of applicable securities legislation. These statements relate to future events or future performance. Forward-looking information in this press release includes information with respect to pending U.S. patent applications, and approval by the US DEA. Forward-looking information is based on reasonable assumptions that have been made by the Company at the date of publication.

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