Story written by Stockhouse

• Optimi Health (CSE:OPTI) has signed a letter of intent with ATMA Journey Centers to advance its psilocybin extract into ATMA’s Phase II Psilocybin Clinical trial
• The company will act as the sole supplier of psilocybin drug candidates to ATMA
• Optimi will also conduct any product development requirements ahead of ATMA’s Phase III clinical trial next year
• Shares of Optimi Health are up 1.33 per cent to C$0.38 as of 11:55 am ET

Optimi Health (CSE:OPTI) has signed a letter of intent with ATMA Journey Centers to advance its psilocybin extract into ATMA’s Phase II Psilocybin Clinical trial to treat major depressive disorder (MDD).

While a definitive agreement will be finalized within the next 45 days, the Vancouver-based company stated in a news release it will act as the sole supplier of psilocybin drug candidates to ATMA.

The collaboration spans regions such as Canada, the United States, the United Kingdom, and the European Union for treating MDD within ATMA’s Group therapy framework.

“Optimi is committed to advancing PAT by leveraging our expertise in cultivating and analyzing GMP psychedelic drug candidates at scale,” Bill Ciprick, CEO of Optimi Health, said in a statement. “Our agreement with ATMA aligns perfectly with our goal of providing the most cost-effective solutions for PAT clinical trials, and together, we are driving the advancement of PAT in a manner that is both equitable and affordable, ensuring accessibility for all who can benefit.”

By 2024 and 2025, Optimi’s botanical psilocybin drug candidate is set to complete Phase II and Phase III clinical trials.

Optimi also stated it will conduct any product development requirements ahead of ATMA’s Phase III clinical trial next year.

Optimi Health is Health Canada licensed psychedelics pharmaceutical manufacturer, specializing in controlled substances such as natural psilocybin and MDMA.

Shares of Optimi Health Corp. (CSE:OPTI) are up 1.33 per cent to C$0.38 as of 11:55 am ET.

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