MIAMI--(BUSINESS WIRE)--First and foremost the Ei.Ventures’ Reg A+ raise has been incredible. Support from investors from all over the country has topped expectations. As it stands, Ei.Ventures has raised $19,914,863 of a $50 million qualification.
With new studies emerging showing that microdosing psychedelics has a clear association with fewer symptoms of depression, anxiety, and stress, it’s no wonder there is such a desire to see Ei.Ventures’ Psilly and other psychedelic medicines hit the mainstream.
And as of last week Ei.Ventures announced some exciting news regarding its Go Public pathway: the company signed an LOI with Mycotopia (TPIA) to explore a merger and the formation of PSLY.COM, a $360 million transaction, and will apply to list shares on NASDAQ. More info about the potential merger and anticipated NASDAQ listing is available here. Ei.Ventures CEO David Nikzad notes, “This is a very exciting deal that provides more certainty in a 'Go Public' path forward and disrupts the typical investment-banker run going-public model which is often full of bumps and headwinds. Ei.Ventures anticipates closing on the merger in March 2022, assuming we reach a definitive agreement.”
Part of Ei.Ventures’ business strategy has been to develop revenue producing products and partnerships while the novel psychedelic medicines move down the clinical pathway and into legal jurisdictions. On that front the company has been working on three key partnerships over the past few months.
The first joint venture partnership is with The3RDBevCo out of New York. The3RDBevCo is focused on creating first to market functional beverages into the $110 billion global functional drink market. The3RDBevCo will produce the Psilli line of functional mushroom drinks. Psilli will come in five unique blends that target energy, immune support, sleep, cognition, and mood. Interested beverage and mushroom fans can register to win a lifetime supply on launch in late Q1 of 2022 and learn more about Psilli here.
Ei.Ventures also made progress on the clinical development front, with an engagement with Tioga Labs, a premier transdermal research and development company with US offices in San Diego, a noted biotech hub. Tioga has secured the required DEA credentials to handle psychedelic drugs, and has acquired the raw materials to begin development and testing of a transdermal delivery system. Forbes covered the engagement here.
In conjunction with the development of this novel transdermal formulation, Ei.Ventures has also signed a non-binding LOI with RYAH, a connected device, big data, and technology company focused on valuable predictive analysis in the global medical plant and nutraceutical intake industry. RYAH has developed a smart patch technology that would further enhance the transdermal delivery system.
The proposed collaboration is expected to:
- Assess the compatibility of the RYAH Smart Patch delivery and monitoring device, software, and data platform with Ei.Ventures' proprietary psychedelic formulations
- Further Ei.Ventures' research and development strategy, accelerating use testing on controlled delivery and monitoring of psychoactive compounds for mental wellness treatments
- Position the companies toward a commercial licensing arrangement to deliver psychedelic therapies, in anticipation of governmentally approved treatment options for mental healthcare
There is more info about the LOI here.
In addition to these, Ei.Ventures is working on finalizing an additional partnership with a biotech company focused on developing novel bio synthetic psychedelic materials. This would allow rapid production of botanical psilocin for the current clinical development at an incredibly low cost.
It would also allow pursuit of additional novel patents and IP within the space at a rapid pace. As such Fox Rothschild has been engaged as counsel for further IP development and filings.
The company anticipates that three other very major initiatives will be announced soon.
Ei.Ventures CEO David Nikzad concludes, “As 2021 comes to a close we would like to wish all in the psychedelic, startup, and investment communities, along with our new friends in the South Florida business community, who have been so incredibly welcoming, a wonderful holiday season and a fantastic new year in 2022.”
You can find the Offering Circular for Ei.Ventures’ Regulation A offering here https://www.sec.gov/Archives/edgar/data/1823182/000110465921096304/tm2123436d1_253g2.htm. For more information on Ei.Ventures, please go to https://invest.ei.ventures/. For media needs, please contact Susan von Seggern at susan@ei.ventures or 213-840-0077.
Forward Looking Statements: Certain information set forth in this presentation, together with any supplements and any other information that may be furnished to prospective investors by the Company in connection therewith, contains “forward-looking statements” and “forward-looking information” within the meaning of applicable United States securities legislation (referred to herein as forward-looking statements). Except for statements of historical fact, certain information contained herein constitutes forward-looking statements which include but are not limited to statements related to activities, events or developments that Ei.Ventures expects or anticipates will or may occur in the future, statements related to the Company’s business strategy objectives and goals, and management’s assessment of future plans and operations which are based on current internal expectations, estimates, projections ,assumptions and beliefs, which may prove to be incorrect. Forward-looking statements can often be identified by the use of words such as “may”, “will”, “could”, “would”, “anticipate”, ‘believe”, expect”, “intend”, “potential”, “estimate”, “budget”, “scheduled”, “plans”, “planned”, “forecasts”, “goals” and similar expressions or the negatives thereof. Forward-looking statements are neither historical facts nor assurances of future performance. Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such information is provided, and forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements.
