Albert Labs International Corp. announced that it has been granted a Health Canada License dated 05-05-2022 for its research and production facility in Burnaby, Canada. This approval permits the legal possession, production, assembly, sale, and delivery of psilocybin and other psychoactive controlled substances within the confines of the regulations governing controlled substances.

At the company's research and production facility, Albert Labs cultivate, extract, and process pharmaceutical-grade natural psilocybin. Utilizing patent-pending technology, Albert Labs can optimize the consistency and standardization of natural psilocybin Active Pharmaceutical Ingredients (APIs) to meet regulatory compliance standards. With the issue of this license, Albert Labs has the ability to distribute API to Canada and, where import licenses exist, internationally.

The licence will allow Albert Labs to supply product to their forthcoming Real World Evidence (RWE) trial in the UK, as well as distribute and sell API to other licensed customers. Under the Special Access Program (SAP) in Canada, Albert Labs is also able, once a medicinal product is approved, to provide health care professionals with medicines under prescribed conditions.