Cannabis and psychedelics innovator Creso Pharma is excited to have signed an exclusive import deal with Swiss pharmaceutical manufacturer Apotheke Dr. Hysek AG for psilocybin and MDMA to enter the Australian market.

As Australian psychiatrists ready themselves for the ability to prescribe synthetic psilocybin and MDMA to their patients from July 1 this year, Creso Pharma (ASX:CPH) is smoothing out the necessary supply chain to import the drugs into the country.

CPH has signed a letter of intent (LOI) with Dr. Hysek AG where CPH will provide the infrastructure to import, warehouse and distribute the products through its wholly-owned subsidiary Health House International, which holds the necessary import licenses for the Australian market.

The agreement follows a decision by Australia’s Therapeutic Goods Administration (TGA) that allows medicines containing psilocybin and MDMA to be prescribed by specifically authorised psychiatrists for the treatment of certain mental health conditions next month.

The Creso-HHI team is discussing with a variety of stakeholders in Australia including GPs, pharmacists and practising psychiatrists, with a focus on forming alliances with health professionals who wish to enter the sector.

Founded by Swiss pharmacist Dr Cedric Hysek, Dr. Hysek AG is a Good Manufacturing Practice (GMP) certified medication production facility which manufactures MDMA, synthetic psilocybin, and LSD, providing controlled substances for clinical studies and patients to universities, physicians and selected companies across the world.

High-level expert leading manufacturing

Creso Pharma chief  executive William Lay said the LOI sets out the terms and parameters for the licensed import and distribution of approved MDMA and psilocybin products to Australia, manufactured by one of the world’s foremost practitioners in this space.

“Dr Hysek is undoubtedly a pioneer in the application of MDMA and psilocybin treatments to achieve better patient outcomes, with a product suite that has been developed in close collaboration with Swiss regulators and university researchers,” Lay said.

“The proposed terms of the commercial agreement position Creso and HHI to play a leading role in the expansion of these treatment solutions in Australia, in alignment with the changes set out by the TGA with respect to the prescription of approved MDMA and psilocybin products.

“We look forward to working with all stakeholders over the coming months, including registered health professionals and practising psychiatrists who have made expressions of interest, to build further on the exciting work already carried out to-date.”

Dr Hysek said that with his company’s extensive background in this field of medicine, it’s exciting to have the opportunity to collaborate with Creso Pharma and set out the path forward for the growth of the industry in Australia.

“Our products are manufactured and distributed in accordance with the highest GMP standards and the company is now uniquely positioned with an extensive manufacturing history, with long-term product development IP which has been developed in direct consultation with federal Swiss health regulators,” Hysek remarked.

The move comes just days after CPH’s Canadian subsidiary Mernova Medicinal entered an agreement with CannDelta to navigate Europe’s GMP licensing process to export cannabis into the EU from its Nova Scotia manufacturing facility.

This article was developed in collaboration with Creso Pharma, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.