IGC Pharma secures Colombian authorization for psilocybin research

IGC Pharma (IGC) announced that on April 9, it received authorization in Colombia to synthesize, formulate, and conduct development activities involving psilocybin at its research and development facility in Bogota. The authorization, granted under the oversight of the Fondo Nacional de Estupefacientes, provides IGC Pharma with a regulated capability to work with psilocybin, positioning the Company within an expanding area of scientific and investor interest. The Company believes it is among a limited number of organizations in Colombia with this type of authorization. This capability allows the Company to evaluate potential applications of psilocybin, for example in neuropsychiatric symptoms associated with dementia, including depression and anxiety, conditions affecting a large portion of Alzheimer’s patients and representing a significant and underserved market opportunity