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The wholly-owned Creso Pharma subsidiary is currently conducting clinical trials of its synthetic psilocybin formulation as treatment for mental health conditions NEDLANDS, Australia, Feb. 9, 2023 /PRNewswire/ Creso Pharma Limited(ASX:CPH, FRA:1X8) ('Creso Pharma') is pleased to announce its wholly-owned psychedelics subsidiary, Halucenex Life Sciences Inc. ('Halucenex'), is exploring opportunities to register its synthetic psilocybin formulation for the Australian market following recent regulatory changes. The Therapeutic Goods Administration (TGA), the medicine and therapeutic regulatory agency of the Australian Government, recently announced that the medical use of MDMA and psilocybin will be reclassified from Schedule 9 (prohibited substances) to Schedule 8 (controlled medicines). This ruling allows authorized psychiatrists to prescribe medicines containing MDMA and psilocybin for the treatment of certain mental health conditions as of July 1, 2023. Based in Winds

Switzerland generalWestern australiaCreso pharmaHalucenex life sciences incCreso pharma limitedTherapeutic goods administrationPharma limitedCreso pharmaLife sciencesAustralian governmentNova scotiaPsilocybin supplierHealth canadaSpecial accessManaging director williamGood manufacturing practice