Shares of Psyence Group Inc’s (OTCMKTS:PSYGF) (CSE:PSYG) have been moving within a narrow range over the past few weeks.
Market Reaction
On Monday , PSYGF stock ended flat at $0.1494 with 1.1K shares, compared to its average volume of 35 shares. The stock has moved within a range of $0.1494 – 0.1494 after opening trade at $0.17.
Key Details
Life science biotechnology company, Psyence Group Inc. (OTCMKTS:PSYGF) (CSE: PSYG) announced on February 07, 2022 that its ISO22000 graded Psilocybin production facility has officially been granted with International Organization for Standardization (ISO) 22000:2018 certification, awarded through the British Standards Institute (BSI). The ISO 22000 is a globally accepted international standard that specifies the requirements for food safety management systems.
The company is actively involved in pioneering the usage of natural psychedelics in mental health and well-being. Its facility, based in Southern Africa is federally licensed to cultivate and export psilocybin mushrooms for the legal medical and research markets, and is operating since January 2021.
It was created and constructed as per ISO 14644-1 cleanroom specifications and engineering design principles. The design ensures that different parts of the process can comply with the Good Manufacturing Practice (GMP) Standards required for product safety and quality in order to meet certification needs of the BSI. Validated and calibrated specialized equipment is present at the facility to guarantee suitable growing conditions, efficient harvesting, and proper packaging.
With the 22000:2018 certification, Psyence steadily moves on towards its goal of manufacturing pharmaceutical grade product for human clinical trials. It includes the company’s clinical trial in the field of palliative care and clinical trials run by research organizations.
