Novo Formulations is a Specialty Biotech Firm Currently Working with Ketamine, Anaesthetics and Adaptogenics
Champignon Brands Plans to Leverage the Novo Formulations Deal to Pursue Psilocybin and MDMA Formulations
Champignon Brands (CSE: SHRM) (OTC: SHRMF) (FRA: 496) announced today that on March 18, 2020, the company signed a definitive agreement to acquire Novo Formulations Ltd.
Novo Formulations is a specialty biotechnology firm focused on the development of novel and innovative delivery systems for the pharmaceutical and nutraceutical industries. Currently, Novo is working with ketamine, anaesthetics and adaptogenics in addition to a host of other pharmaceuticals and natural molecules. Novo conducts its operations at its purpose-built GMP and pharmaceutical (DIN) licensed facility located in Quebec, Canada. Novo is also an accredited pharmacy in the province of Ontario.
The team at Novo Formulations is made up of PhDs and technician level scientists, each with decades of experience building novel defensible medical IP, as well as subsequently developing and commercially marketing proprietary delivery platforms.
Novo’s team also works alongside multiple first-class university institutions, as well as collaborates with medical professionals and associated clinics in numerous Health and Wellness spaces that include:
- Psychiatry (Depression, Anxiety, PTSD, OCD) Addiction (alcohol drug, obesity)
- Neurology (concussion and neuropathic pain)
- Rheumatology (osteoarthritis, rheumatoid arthritis)
- Ageing (dementia, probable Alzheimer’s, mini-strokes)
- Metabolic Disorders (diabetes)
At its Quebec facility, Novo is actively formulating, developing and commercializing bioavailable delivery platforms which include the following:
- Transdermal (topical)
- Intranasal
- Sublingual
- Novel oral and suppository
“The recent acquisitions of Novoformulations and Artisan Growers are absolutely accretive to each other and to our stated business objectives of enhancing the health and wellbeing of millions of consumers via our suite of medicinal mushroom extracts, mushroom-infused products and now novel delivery systems,” stated Gareth Birdsall, CEO of Champignon Brands.
Source: Shutterstock
Novo is partnered with a Quebec based manufacturer with a 40,000 sq ft GMP-certified, Health Canada and Federal Drug Administration (FDA) approved manufacturing facility. The manufacturing facility is capable of processing the company’s novel delivery platforms and formulations into marketable end products.
Champignon intends to leverage Novo’s existing product development infrastructure and licensed affiliates to pursue Psilocybin and MDMA based formulations. Champignon’s goal is to develop and commercialize rapid onset treatments that are capable of improving health outcomes for individuals suffering from conditions such as depression, PTSD and substance and alcohol use disorders (addiction). In North American, the market for pharmacologic DPS treatments currently exceeds $10 billion annually.
Champignon will also look to integrate its existing medicinal mushroom extracts and fungi cultivated at its Artisan Growers’ facility, into certain proprietary delivery systems developed by Novo Formulations. Champignon has successfully formulated a functional mushroom blend, which includes but is not limited to the following fungi varietals:
- Reishi: an adaptogen with anti-inflammatory, cholesterol-lowering and known anti-viral properties
- Lion’s Mane: a mushroom with adaptogenic-like properties for improved cognitive functions
- Chaga: a mushroom with adaptogenic-like properties, which may act as a neuroprotective agent and may boast anti-viral and anti-cancer properties
“The existing infrastructure inherited from these recent acquisitions positions us as a leading participant throughout the entire alternative medicine lifecycle, from R&D to formulation, manufacturing and end distribution. The end result will be a turnkey solution that incorporates both standardized ingredient mixtures and pharmaceutical grade products that can now be marketed via a variety of proprietary delivery systems. The addition of Novoformulations allows Champignon to deliver medications in a safer, more effective and more expeditious manner than our peers, from bench top in the laboratory to preclinical and clinical trials. We are intent on the commercialization of products throughout North America, as rapidly as is safely and effectively practicable,” added Birdsall.
As per the terms of the deal, Champignon will acquire 100% of Novo Formulations in exchange for 12.5 million SHRM common shares priced at $0.2475 per share.
SHRM Price Action & Chart
Shares of Champignon Brands’ CSE listed SHRM stock closed trading today at $0.33 per share, even on the day. American investors should be aware that Champignon Brands is now listed on the OTC Markets Exchange under the ticker symbol ‘SHRMF.’ The company’s new OTC listing should further improve liquidity as the world’s largest pool of investors can now easily trade the stock. Overseas in Germany, Champignon’s Frankfurt listed stock closed today’s trading session at $0.205 per share, down -1.44% on the session.
With financial markets around the world in turmoil, Champignon Brands’ share price has held up exceptionally well considering the circumstances. Following its initial surge higher, SHRM’s chart has since consolidated into a tight bullish pennant formation. Bull pennants are continuation patterns where a period of consolidation is likely followed by a breakout to the upside.
Look for SHRM to potentially break out from its current trading range in the near future. The broad market is also due for a major bounce; if that occurs, SHRM could experience an even larger move to the upside.
Source: Barchart.com
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