Vancouver, B.C., June 14, 2022 (GLOBE NEWSWIRE) — Origin Therapeutics Holdings Inc. (CSE:ORIG) (the “Company” or “Origin Therapeutics”), an actively managed, psychedelics industry-focused investment issuer, is applauding the recent announcement from the federal government that the possession of small amounts of some illicit drugs will be decriminalized for adults in British Columbia starting next year.
This exemption, announced on May 31 by the Federal Minister of Mental Health and Addictions Carolyn Bennett, and her provincial counterpart Sheila Malcolmson, will go into effect on January 31, 2023, and last until Jan. 31, 2026.
“This move represents a clear acknowledgment of and steps towards finding a solution to the mental health and overdose crisis in Canada,” said Alexander Somjen, CEO of Origin Therapeutics. “This also represents growing destigmatization, which can both open the door to overcoming this crisis while also supporting the innovation taking place in the psychedelics sector, which has its own stigmatization hurdles to overcome, and ironically, may ultimately also be a part of the solution to the addiction crisis.”
A growing number of nations are moving toward the removal of penalties for drug use. Canada, and Vancouver in particular, is rapidly establishing itself as a leader as Ottawa navigates decriminalization.
“Under the Controlled Drug and Substances Act, health ministers have the authority to grant exemptions for medical or scientific purposes, or purposes that are otherwise in the public interest,” added Somjen. “We believe that this initiative has the potential to push the psychedelic medicine industry forward, moving us another step closer toward unlocking the potential of these medicines.”
Origin Therapeutics is an actively managed investment issuer focused on making equity investments in psychedelics industry-related companies ranging from drug discovery to telehealth, wellness retreats, educational media, and more. Sign up to receive updates from Origin Therapeutics at https://originpsychedelics.com/
About Origin Therapeutics
Origin Therapeutics Holdings Inc (CSE:ORIG) (the “Company” or “Origin Therapeutics”) is an actively managed investment issuer focused on making equity investments in psychedelics industry-related companies to provide investors with diverse exposure to the sector. The Company, led by a team of industry experts, leverages its management expertise, professional network, and due diligence process to identify and invest in leading and emerging companies focused on the emerging psychedelics sector.
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