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Allied Corp. Advances Psilocybin Product Psilonex™ RX and Initiates Manufacturing Process

Allied Corp. (ALID) is pleased to announce that it has initiated the manufacturing activities for Psilonex™ RX – Allied’s proprietary psilocybin product, Allied announced its manufacturing agreement with HAVN Life Sciences to manufacture Psilonex™ RX under their legal licenses and manufacturing process.

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Over the past months, Allied’s scientists have further developed the Psilonex™ RX formulation and, through Allied’s licensed manufacturing partner, has initiated the manufacturing process for the production of the medicine. This psilocybin product includes a proprietary formulation of extracted psilocybin, other functional mushroom extracts as well as a proprietary vitamin constituency.

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Allied has what it believes to be a unique approach to treatment of general depression, anxiety and PTSD. Initially, patients are to be prescribed Psilonex™ RX (the psilocybin-based product) followed by a daily product of cannabidiol (CBD) called Psilonex™ Daily.

Under the direction of Mr. Jim Smeeding, Director and VP of Pharma of Allied Corp, Psilonex™ RX has been formulated as a specific concentration ratio of functional mushrooms, vitamins and psilocybin. Allied intends to bring Psilonex™ RX through to the completion of human clinical phase I trials, and then intends to seek a licensing arrangement with a big pharma partner.

“The anecdotal evidence we have obtained has guided our formulation of Psilonex™ RX. We believe we are working with real people with real world mental health concerns. In our view, Psilonex™ RX is showing great promise to help individuals who have given of their lives to help their country,” said Mr. Jim Smeeding, Director and VP of Pharma of Allied Corp.

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