On Feb. 3, 2021, XPhyto announced an agreement with Applied Pharmaceutical Innovation for the synthesis of pharmaceutical grade psychedelic compounds and the parallel development of the standard operating procedures necessary to obtain regulatory approval for the respective commercial production process.

The industrial-scale production of standardized active pharmaceutical ingredients is an important part of XPhytoﾒs psychedelic pharmaceutical program as the Company anticipates a shortage of large-scale supply of certain approved and standardized pharmaceutical grade psychedelics.