- Recently acquired a Jamaica-based pharmaceutical company
- Unique research that combines medical cannabis with psychedelic mushrooms
- Artificial-Intelligence (AI) driven development of combinatorial pharmaceuticals
What Aion Therapeutic does:
Toronto-based Aion Therapeutic Inc (CSE:AION), formerly Osoyoos Cannabis Inc, intends to process raw cannabis to produce cannabis extracts for Canada’s medicinal and recreational cannabis markets. The company will generate revenue through third-party contract and toll processing, wholesaling of oils and distillates, white-label solutions and through selling Aion Therapeutic-branded products.
Aion has secured a lease with the Osoyoos Indian Band in Oliver, British Columbia, and has re-submitted its processing license application to Health Canada through the Indigenous Navigator program, for a cannabis extraction facility, which will be built out in two phases. Phase 1 is currently underway, with the capacity to process up to 50,000 kilograms of dried flower and produce 4,900 kilograms of cannabis oil annually. Once the facility is fully operational, it will be able to process up to 100,000 kilograms of dried flower and produce approximately 9,800 kilograms of cannabis oil annually.
The company is also in discussions with the Osoyoos Indian Band to lease 100+ acres of land adjacent to the extraction facility for an outdoor cultivation site. The Okanagan has a hot, dry climate, which makes it an ideal location for outdoor cannabis cultivation.
Aion is also involved in pharmaceutical research and product development involving the combination of cannabis and psychedelic mushrooms through its wholly-owned Jamaican subsidiary AI Pharmaceuticals Jamaica Limited.
Aion Therapeutic is led by CEO Graham Simmonds, who has more than 20 years of experience in public company management and business development projects within the gaming, technology and other regulated sectors. Simmonds is the founder and former chairman and CEO of CordovaCann Corp, a Canadian-domiciled diversified cannabis investment company listed on the CSE.
How is it doing:
In 2020, Aion Therapeutic acquired PCAI Pharma and its wholly-owned subsidiary AI Pharmaceuticals Jamaica Limited, which is involved in research and development, treatment, data mining and state-of-the-art artificial intelligence (machine learning) techniques, focused on the development of combinatorial pharmaceuticals, nutraceuticals and cosmeceuticals utilizing compounds from cannabis (cannabinoids), psychedelic mushrooms (psilocybin), fungi (edible mushroom), natural psychedelic formulations (ayahuasca), and other medicinal plants in a legal environment for this type of discovery.
The company noted that Jamaica is one of the few countries in the world where mushrooms (both edible and psychedelic) have never been made illegal and are openly sold. This allows AI Pharma to legally discover combined formulations in order to build a large patent portfolio of blocking patents and products.
Aion has filed five patent applications with the US Patent and Trademark Office related to the combination of medical cannabis with edible and psychedelic mushrooms. The applications include formulations designed to treat a variety of conditions, including cancer, psychiatric disorders, addiction, viral diseases, obesity and inflammatory disorders.
The group's combinatorial treatment formulation discovery platform relies on artificial intelligence (AI) techniques. By utilizing AI, the company plans to create a full line of therapeutic products that includes combinatorial pharmaceuticals, nutraceuticals and cosmeceuticals, as well as individualized treatments for personalized medicine using human genome and other data.
On the financial side, Aion Therapeutic closed a non-brokered private placement financing of approximately C$500,000 at a price of $0.055 per unit on September 18, 2020. About a month earlier, the company completed a C$1 million equity financing at $0.05 per unit.
- Cannabis oil extraction following facility build-out
- Development of therapeutic products using AI
- Revenue generation through third-party contract and toll processing
What the boss says:
Commenting on the company’s name change, Aion Therapeutic CEO Graham Simmonds said in a statement: “We are pleased to see our name and ticker symbol change to better align with our mission to create an array of new novel patent-protected therapeutic formulations using unique combinations of medical cannabis with psychedelic mushrooms (psilocybin), fungi (edible mushrooms) and other psychedelic and natural therapies to benefit patients with many types of illnesses including cancer, psychiatric disorders, addiction (opioid and alcohol), viral infections, obesity, chronic inflammation and others.”
He added: “The backbone of our patent-protected formulation discovery is proprietary state-of-the-art artificial intelligence (machine learning) techniques. We are extremely excited about our recent advances in this new field of combinatorial therapeutics.”
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