Lexston Life Sciences is Granted Section 56 Exemption from Health Canada and embarks on the development of portable technology for quantification and traceability of Psilocybe mushrooms
929 Mainland Street
Vancouver, BC V6B 1S3
Phone
Fax
(604) 928-8913
(604) 628-0129
Email [email protected]
Website www.lexston.ca
NEWS RELEASE
Lexston Life Sciences is Granted Section 56 Exemption from Health Canada and
embarks on the development of portable technology for quantification and
traceability of Psilocybe mushrooms
Vancouver, British Columbia, January 31, 2022. Lexston Life Sciences Corp. (the “Company” or “Lexston”)
(CSE: LEXT) (OTCQB: LEXTF) a biotechnology company focused on the development of analytical services
and production of botanically derived psychedelics, is pleased to announce that, on January 17, 2022, its
wholly-owned subsidiary, Egret Bioscience Ltd. , was granted a two year long Section 56 exemption by
Health Canada, pursuant to which the company can now possess up to 100 grams of psilocybin
mushrooms for scientific purposes for their project entitled “ Establishing best practices and analytical
methods for the rapid detection, quantification and traceability of botanically derived classical
psychedelics”.
Egret scientists will leverage their expertise in High Pressure Liquid Chromatography (HPLC) and will
collaborate with NIRLab AG (www.nirlab.com) in the development of a rapid and portable Near Infrared
Spectroscopic tool for the identification and quantification of naturally derived tryptamines found in
Psilocybe mushroom such as Psilocin, Psilocybin, Baeocystin, Norbaeocystin and Aeruginascin. The team
will also implement large scale genotyping-by-sequencing to validate a 100’000 marker assay that will be
used to uncover the genetic basis of different tryptamine profiles from a varied list of accession supplied
by participating Licensed Dealers.
“We are excited to add Psilocin and Psilocybin to our existing tryptamine analytic s platform which
currently includes the uncontrolled compounds bufotenine, 5 -Meo-DMT and 4-Aco-DMT. Our ability to
collect chemical and genetic profiles from a suite of psychedelic mushrooms with unique attributes will
enable our team to discover the genetic basis underlying particular chemical profiles. This information will
be invaluable for future developments of biosynthetic production pipelines for botanically derive d
psychedelics” Stated Philippe Henry PhD, Director and Chief Science Officer of Lexston.
Page | 2
Near infrared Spectrometer used for the rapid detection and quantification of mushroom compounds.
About Lexston Life Sciences Corp.
Lexston Life Sciences Corp. is a Canadian biotechnology company providing cannabis testing and research
services. Lexston has recently secured licensing under the exemptions prescribed by section 56 of the
Controlled Drugs and Substances Act (Canada) to enable the expansion of its services into the psychedelic
industry with an initial focus on the detection and quantification of psychedelic molecules in the lab and
point of care. Lexston intends to develop and validate methods for standardized manufacturing of plant
derived psychedelics in support of burgeoning trials in the field of mental health and wellness.
On Behalf of the Board of Directors
LEXSTON LIFE SCIENCES CORP.
Jagdip Bal Chief Executive Officer
Telephone: (604) 928-8913
Page | 3
Forward-Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable
securities legislation. Often, but not always, forward-looking statements and information can be identified
by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”,
“anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that
certain actions, events or results “may”, “could”, “would”, “might” or “will” be tak en, occur or be
achieved. Forward looking statements or information involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance, or achievements of LEXT to be
materially different from any future results , performance or achievements expressed or implied by the
forward-looking statements or information contained in this news release.
Risks, uncertainties , and other factors involved with forward -looking information could cause actual
events, results, performance, prospects, and opportunities to differ materially from those expressed or
implied by such forward -looking information. The Canadian Securities Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of the content of this news release.