Israeli firms are collaborating on a pilot mission for hashish and mushroom-based dietary dietary supplements

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“This is a market with enormous sales potential, as the mushroom market is flourishing in the east and growing in the USA.”

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Sam Riches Under the terms of the agreement, the R&D teams of each company will work together to develop the products.  / Under the terms of the agreement, the R&D teams of each company will work together to develop the products. / Photo by Luisa Gonzalez /Reuters

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Israeli medical cannabis company Tikun Olam Cannbit and leading nutritional supplement company Ambrosia-SupHerb have launched a joint research and development pilot project focused on the manufacture of cannabis and mushroom based nutritional supplements.

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Under the terms of the agreement, research and development (R&D) teams from each company will work together to develop the products that include the addition of other nutritional supplements such as vitamins, minerals, amino acids and plants.

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    New survey shows the majority of Canadians support legal access to psilocybin therapy

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According to a press release, Tikun Olam Cannbit plans to export the mushroom-based products to Europe with the hope of focusing on the domestic market if regulations allow.

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“This is a market with huge sales potential as the mushroom market is thriving in the east and growing in the US,” said Avinoam Sapir, general manager of Tikun Olam Cannbit.

Medical cannabis is legal in Israel and cannabis for personal use is partially decriminalized.

According to the medical cannabis source Way of Leaf, psilocybin and psilocin, the psychoactive compounds found in mushrooms, are illegal in Israel, but magic mushrooms are allowed to be sold, grown, and owned as long as it is for research purposes.

Last month, the Jerusalem Post toured the laboratory of PsyRx, a pharmaceutical research and development company that uses biological bioreactor technology to produce psilocybin that meets GMP standards. The company is currently focused on the potential of mushrooms for treating depression and addiction.

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Last November, Oregon voters approved Measure 109, making it the first state to legalize the therapeutic use of psilocybin products for people 21 and older. In 2019, Denver became the first US city to decriminalize psilocybin.

In Canada, psilocybin is illegal to possess, acquire, or manufacture and is listed as a List III controlled substance under the Controlled Drugs and Substances Act (CDSA), the third highest crime level.

However, last year, BC-based nonprofit TheraPsil helped 32 patients and 19 healthcare professionals in five different provinces obtain Section 56 exemptions from the CDSA so they could legally use and possess psilocybin.

A recent public opinion poll commissioned by TheraPsil and conducted by YouGov, a UK-based market research and data analysis company, found that the majority of Canadians polled are in favor of legalizing psilocybin therapy and that support will increase once respondents are informed be exploring the therapeutic potential of psilocybin.

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