VANCOUVER, British Columbia, March 02, 2023 — HYTN Innovations Inc. (“HYTN” or the “Company”) (CSE: HYTN), a Vancouver-based company specializing in the production of psychoactive and psychotropic compounds, announced today that it has submitted an amendment to its Controlled Drugs and Substances Dealers License with Health Canada. The amendment, if approved, will allow the company to expand its work to include additional compounds such as MDMA, ketamine, LSD, cocaine, and other lesser-known compounds in addition to cannabinoids and psilocybin. This move will further solidify HYTN’s position as a leading manufacturer of psychoactive and psychotropic compounds.
The company has also entered the review stage for both a Drug Establishment License (DEL) under the Food and Drugs Act and a Precursors License under the Controlled Drugs and Substances Act. HYTN is committed to maintaining a regulatory-first approach to product development and leveraging its strengths in manufacturing-controlled substances for human consumption.
HYTN’s Chief Operating Officer, Jason Broome, expressed his excitement about expanding the licensed capabilities of their facility. He stated that this milestone achievement demonstrates the strength and workability of HYTN’s quality systems and operational controls. He also noted that the company is well-equipped to supply the needs of clinical trial and special access uses of these molecules in both domestic and international markets.
This news augments the ongoing work related to cannabis-derived cannabinoids, which the company has previously formatted into novel medicines and successfully sold through the Therapeutic Goods Administration, Australia’s health authority. In recent weeks, changes in the classification of MDMA and Psilocybin by the TGA for therapeutic use have provided a clear commercial pathway for the development of these controlled substances.
The amendment and the new license applications represent significant milestones for HYTN, reinforcing the company’s dedication to expanding its product offerings while remaining at the forefront of regulatory compliance. With these developments, HYTN is well-positioned to continue its mission to provide the highest quality, regulated psychoactive and psychotropic compounds to its customers.
About HYTN Innovations Inc.
HYTN formulates, manufactures, markets, and sells premium products containing psychoactive and psychotropic compounds, including cannabis-derived cannabinoids. HYTN’s mission is to become the top provider of these products in all federally regulated markets. To achieve this, the company focuses on identifying market opportunities and quickly bringing its innovative products to market through its elevated development platform.
