Silo Wellness has confirmed it has acquired Dyscovry Science – a Toronto-based biotechnology company focused on biosynthetic manufacturing of psilocybin and its derivatives, targeting irritable bowel syndrome (IBS).
The company that launched the world’s first psilocybin nasal spray, Silo Wellness, says the acquisition is a “key component” to its pharmaceutical vision.
Dyscovry is currently in a research collaboration with Canadian federal government research laboratories, through which it intends to develop a biotechnological process for the production of psilocybin and its potentially novel molecule derivatives.
Silo has stated that the transaction affirms its commitment to the psychedelic pharmaceutical space and is expected to add pharmaceutical R&D capabilities to its patent-pending metered-dosing formulations for psilocybin, DMT, mescaline and 5-MeO-DMT, and its psychedelic retreat expertise to help unlock the value of its strategic portfolio.
Silo Wellness founder and CEO Mike Arnold, an Oregon attorney, stated: “Bringing the Dyscovry team into the Silo Wellness family is a key component to our pharmaceutical vision which began with our July 2019 priority date for our patent-pending metered-dosing modalities for psilocybin, mescaline, DMT and 5-MeO-DMT.
“With our presence and founding in Oregon along with our psychedelic retreat operational experience in Jamaica with psilocybin and 5-MeO-DMT and Oregon with ketamine, Dyscovry’s portfolio will allow us to further our goal of covering both tracks of the psychedelic industry under one roof: psychedelic healing now via jurisdiction-by-jurisdiction “adult use” and pharmaceutical biotech.”
Focused on the biosynthesis of psilocybin, Dyscovry says it is investigating a quantifiable anti-inflammatory effect of psychedelics – believed to be mediated through 5-HT2A activation – and how this relationship pertains to disorders that affect the large intestine, such as IBS.
Speaking on the announcement of the acquisition, Brad Dottin, founder and president of Dyscovry, stated: “We are joining two teams that share a passion and vision for developing differentiated psychedelic healing therapies that advance science and transform the lives of patients.
“I look forward to all that we intend to accomplish together as a combined organization.
“With Dyscovry’s collaborative partnerships with Canadian federal government research institutions, a Canadian Council on Animal Care (CCAC) certified university facility for animal studies, and an Ontario-based DEL facility for pre-clinical research, this merger will further enhance Silo’s platform for continued growth by adding R&D capability and a team with early-stage research, translational and clinical development capabilities along with deep-rooted scientific knowledge in Irritable Bowel Syndrome (IBS) and severe inflammatory diseases.”
