MOU with US based Panacea Plant Sciences Inc
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 ANNOUNCES A MEMORANDUM OF UNDERSTANDING WITH UNITED STATES
BASED PANACEA PLANT SCIENCES INC. FOR RESEARCH AND DEVELOPMENT OF
PSYCHEDELICS AND CANNABIS
Vancouver, British Columbia, January 10, 2022. Lexston Life Sciences Corp. (the “Company” or “Lexston”)
(CSE: LEXT) (OTCQB: LEXTF) is pleased to announce the signing of a Memorandum of Understanding (the
“MOU”) between its wholly owned subsidiary Egret Bioscience Ltd. (“Egret”) and Panacea Plant Sciences
Inc. (“Panacea”), a leading United States biotechnology company focused on developing new therapeutic,
cultivation, extraction and isolation techniques for high value natural products such as psychedelic -
containing lifeforms and cannabis.
Under the terms of the MOU, Panacea and Egret intend to create joint ventures (“JV”) through which they
plan to expand the supply chain, reduce the supply cost, and characterize the chemistry and pharmacology
of a suite of psychedelic compounds using each team’s particular expertise. The goal of the JVs will be to
develop cell-based culture systems for the standardized production and formulation of novel psychedelic
combinations. In addition to assigning intellectual property to the JV, the parties will also assign four
percent (4%) of its equity to environmental and indigenous groups associated with the lifeform or
compound of interest.
The teams recen tly launched an initial pilot study on allosteric modulators of the serotonin receptor
5HT2A in combination with DMT, 5 -Meo-DMT, mescaline, LSD, and psilocin. This work will identify the
mechanisms for the entourage effect of psychedelic plant and fungi.
"We are excited to continue our collaboration efforts with Panacea. This agreement is significant for
Lexston as it allows us to expand on our expertise in the chemical and genetic analyses of natural products
to classical psychedelics. Involving the indigenous groups is an important aspect to both companies as it
encourages acceptance of our research and can potentially improve many lives.” States Dr. Philippe Henry,
Chief Science Officer and Director of Lexston.
The parties will also explore different botanical sources of naturally derived tryptamines to identify ideal
candidates for traditional and cell culture-based production. The research is expected to lead to low-cost
manufacturing of psychedelic compounds which may reduce costs for researchers as well as patients once
these items are approved by regulators.
Page | 2
Both parties hold licenses in their respective jurisdictions for s cientific research on cannabis and are
applicants for psychedelic research licenses with the US DEA and Health Canada. The parties have also
entered into a material transfer agreement in which Panacea will transfer key germplasm for botanicals
containing uncontrolled tryptamines and phenethylamines such as Lophophora williamsii , Echinopsis
pachanoi, Pterocarpus santalinus and Anadenantherra peregrina to Lexston for the optimization of plant
tissue and cell culture methodologies alongside chemical and genetic characterization of the Panacea
germplasm.
For more information and to subscribe to the Company’s mailing list, please
visit https://lexston.ca/contact/ .
About Lexston Life Sciences Corp.
Lexston Life Sciences Corp. is a Canadian biotechnology company providing cannabis testing and research
services. Lexston is also in the process of securing 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
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.