00:00 (upbeat music)
00:02 - Welcome, it's Michael Murray with Benzinga.
00:04 Joined today by Lofos Pharmaceuticals
00:06 and Claire Stonici, the CEO.
00:08 Claire, it's great to have you with us.
00:09 How are you?
00:10 - I'm doing well.
00:11 It's great to be here.
00:12 Thank you.
00:13 - And wonderful to have you too, Claire.
00:14 Thank you so much for joining us for the first time.
00:16 Let's kick it off by you giving us a quick overview
00:18 of your company.
00:19 What exactly do you guys do?
00:20 - Lofos is a masculine focused research company
00:23 that is also engaged in the cultivation and research
00:26 of peyote cactus or Lophophora williamsii.
00:29 Our cultivation site is also licensed with Health Canada
00:33 to possess, produce, sell, and deliver
00:36 the controlled substances that are covered
00:38 under our license, which are currently mescaline,
00:42 psilocybin, and psilocin.
00:44 Our site also features a state-of-the-art laboratory
00:47 where we plan on performing research with peyote
00:50 and mescaline internally.
00:52 - Understood.
00:52 Now, why peyote exactly?
00:53 Can you give us a reason why this is what you guys
00:55 are focused in on?
00:56 - Yeah, so we focused on peyote
00:58 because it is legal to grow and sell in Canada.
01:03 But peyote is a traditional psychedelic medicine
01:07 that has been consistently used in North and South America
01:10 for over 5,000 years.
01:13 It is the oldest known psychedelic medicine
01:15 and it is generally regarded as safe.
01:18 And so peyote is also considered endangered
01:21 and it is at high risk of going extinct in its native lands.
01:26 And so by furthering the research and the methods
01:30 around indoor cultivation, we hope to play a significant
01:33 role in protecting peyote in its indigenous habitat.
01:37 - Understood.
01:38 Now, what kind of clinical data backs up your work?
01:40 Can you talk us through the data side of things
01:42 a little bit?
01:42 - So to date, there's been very little clinical research
01:45 performed around peyote or mescaline,
01:48 with most of the focus being on the tryptamines,
01:51 such as psilocybin or LSD.
01:54 And even with other phenolethamines, such as MDMA.
01:58 MDMA and mescaline share some of the same
02:01 pharmacological properties.
02:03 And we believe that with the success of MDMA
02:06 in clinical trials, that mescaline may share
02:09 some of this potential.
02:11 - Absolutely.
02:12 Now, can you talk to us about how you ensure
02:14 that the plant is sustainably cultivated?
02:15 How do you ensure goodwill with indigenous people
02:18 for whom the plant is sacred?
02:19 - So our peyote is sustainably cultivated
02:22 as it's grown from seed in Canada,
02:25 and it's never harvested from the indigenous peyote lands.
02:29 This is very important because the peyote that grows
02:32 on these lands is sacred to indigenous people.
02:36 Peyote has been utilized for healing by indigenous people
02:40 in Canada for hundreds of years.
02:42 And there is a long history of cultivation here.
02:46 LOFOS is helping to provide access
02:48 to these traditional medicines for all Canadians,
02:51 but especially for indigenous people
02:54 that may be lacking access.
02:56 Our peyote is grown in a controlled substance
02:59 approved facility, and it is tested
03:02 according to pharmacopoeia methods.
03:05 - Absolutely.
03:06 Now, a final question for you here as we close.
03:07 What is mental health treatment going to look like
03:09 in 10 years down the road?
03:11 What can we expect to see as we move forward here?
03:14 - So I believe the future of mental health treatment
03:16 is truly psychedelic.
03:19 We're already seeing incredible strides and results
03:22 in those that seek psychedelic-based therapies.
03:26 The need for improved mental health treatments is incredible
03:29 with an estimated one in three women and one in five men
03:33 that will experience a severe form of depression
03:36 in their lifetimes.
03:37 I truly hope to see psychedelic therapy options
03:41 that are widely available for those that are suffering.
03:45 - Absolutely.
03:45 And another question there just before we end, actually,
03:48 kind of spurred off of that.
03:49 What do you feel really sets Lofos apart
03:50 from other psychedelic companies in the industry as a whole?
03:53 - Yeah, so Lofos is extremely special
03:57 in that we have the ability to provide our product now.
04:01 So currently we have a goal of reaching 1,000 live plants
04:05 at our site in the next year,
04:07 but our site has the capability of housing
04:09 up to 180,000 peyote plants.
04:12 And we expect a max harvest of around 36,000 plants.
04:18 Now this could bring potential revenues for us
04:20 of up to $20 million per year,
04:23 and this would allow Lofos to fund our own research.
04:27 This is extremely rare, and it would also allow us
04:31 to become a self-sustaining company
04:33 faster than others in the space.
04:36 And so we believe that this will give Lofos
04:38 a secure footing for the years ahead.
04:40 - Amazing.
04:42 Clare, it's been wonderful having you here with us today.
04:43 We really appreciate you taking the time,
04:45 sharing more about Lofos Pharmaceuticals and what you do.
04:48 Clare Stonici, CEO, thank you so much for being with us.
04:51 - Thank you, Michael.
04:53 (upbeat music)
04:56 (upbeat music)
04:58 ♪ Hey ♪
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