Pure Extracts and Psyence Form Joint Venture Corporation Pure Psyence

Pure Extracts, a plant-based extraction company, and Psyence Group, a biotechnology company specializing in natural psychedelics, announced the formation of a joint venture company on Sept. 28, 2021. The new company, Pure Psyence, will develop nature-derived psilocybin extracts and advanced psilocybin formulations.

Pure Extracts is known for its full spectrum oil extracts and has experience working with cannabis, hemp, functional mushrooms, and psychoactive mushrooms. Their new partner, Psyence, operates one of the first federally-licensed commercial psilocybin cultivation and production facilities in the world.

Pure Psyence will look to develop long-term mental health treatments in the form of psilocybin products. It will leverage Psyence’s supply of psilocybin mushrooms and Pure Extract’s extraction technologies to produce medicinal mushroom extracts and formulations on a commercial pharmaceutical scale.

“Pure Psyence sits at the intersection of evidence-based science and nature,” said Ben Nikolaevsky, CEO, Pure Extracts, in a company press release. “The researchers, scientists, and physicians at Pure Psyence will now be uniquely positioned to bring psilocybin whole mushroom in measurable pharmaceutical dosages to market; a first.”

Source: Pure Extracts