American medical cannabis company Goodness Growth Holdings has announced it is branching out in to psychedelics medicine.
The Minneapolis-based company has announced its subsidiary, Resurgent Biosciences, will focus on the emerging field.
In a statement, the company said that it ‘plans to expand its intellectual property development and clinical research efforts into psychedelic medicine’.
The new arms ‘does not intend to engage directly in the cultivation, manufacture, or distribution of any psychedelics’.
Chairman and CEO Kyle Kingsley said: “Our formation of Resurgent Biosciences was a strategic move to separate our multi-state cannabis company from the non-plant-touching, ancillary business opportunities within our intellectual property portfolio.
“Resurgent has proven its ability to conduct clinical research of medicinal plants in partnership with leading hospitals across the United States…”
He added: “Resurgent’s expansion into psychedelics represents a natural extension of our team’s medical and scientific expertise, and frankly, we believe the opportunities for psychedelics to transform the future of mental health and psychiatry are far too significant for us to ignore.
“We believe the formation of clinical research partnerships to prove efficacy of psychedelic therapies, and the pursuit of novel technologies and applications which could make psychedelic medicine more accessible and affordable for patients and healthcare providers, could drive substantial value creation for our shareholders in the future.”
