Creso Pharma’s Halucenex engages HeteroGeneity ahead of US entry
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
In an important commercial development, Creso Pharma Limited’s (ASX:CPH, FRA:1X8) target acquisition company Halucenex Life Sciences Inc. has entered into a consultancy agreement with leading US-based scientific consultancy HeteroGeneity, LLC to progress a US market entry strategy for the potential use and licensing of the company’s botanical psilocybin products and compounds.
The agreement will assist in commencing licensing discussions with large pharmaceutical groups ahead of phase II clinical trials, in management’s view, a key factor in establishing a considerable competitive advantage.
HeteroGeneity is a scientific management organisation based in Washington DC that provides strategic and technical assistance to clients conducting research, development and commercialisation of drugs, biologics and medical devices for the US and Canadian markets.
The group specialises in the regulation, policy and science of complex, heterogeneous mixtures, while also addressing novel use areas for traditional medicine practice and naturally of historically complex products.
HeteroGeneity is at the forefront of regulation in North America and has been instrumental in assisting a number of companies achieve New Drug Approval Applications through the Food and Drug Administration (FDA) for the US market.
Under the agreement, both parties will conduct a technology assessment to progress a development plan for a new botanical drug under pharmaceutical development for the US market.
This will include advisory around clinical indications, regulatory status of proposed ingredients, sourcing, manufacturing and formulation, compilation of supporting data and intellectual property considerations amongst other initiatives.
HeteroGeneity shall be compensated on an hourly basis, and may be terminated without cause by either party upon giving 30 days written notice.
Strategically important in entering US market
The agreement marks an important first step in the company’s US market entry strategy.
HeteroGeneity will assist Creso Pharma and Halucenex with any required FDA regulatory approvals, and will enable Creso to start discussions with large-scale pharmaceutical companies around licensing agreements for its extracts and psychedelic compounds.
Based on independent research, the psychedelic therapeutic drug market in the US is expected to reach a total value of US$6.7 billion by 2027, making it a very lucrative opportunity for Creso Pharma.
Ahead of the pending phase II clinical trial, Halucenex has assembled a market-leading team of consultants and strategic partners, providing the group with a considerable competitive advantage as it progresses clinical trials and positions for entry into the US market, subject to necessary legislative reform.
Creso Pharma sees the prospect of entering the US market as a very positive step, and on this note non-executive chairman Adam Blumenthal said, “Creso’s Board and management are very pleased that Halucenex is taking steps forward in the early stages to progress a US market entry.
“Having centralised operations in Nova Scotia will provide Halucenex with considerable advantages when undertaking the steps required to progress regulatory approvals and potential discussions with large pharmaceutical groups for the licensing of the group’s psilocybin extracts and compounds.”
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
