CLABF - Core One Labs, Inc.
Related ticker symbols: CSX: COOL
Incorporated in 2010, Core One Labs Inc. (OTC: CLABF, CSX: COOL) is a Canada-based biotechnology and life sciences firm headquartered in Vancouver. The company focuses on providing psychedelic-assisted psychotherapy, API-grade psilocybin manufacturing, and advancing psychedelic medicines to the drug market via novel delivery techniques. The company is committed to using its proprietary technologies in producing natural-based medicines to cure mental health illnesses, neurological disorders, and addiction. Its CannaStrips technology manufactures infused strips that facilitate the bioavailability of cannabis constituents. The company and its subsidiaries offer additional services, including micro-cultivation, consulting, financing, and provision of natural health products. As of November 28, 2022, Core One operated 13 fully-owned subsidiaries, including Rejuva Alternative Medicine Research Centre Inc., a walk-in medical clinic in Vancouver, and Vocan Biotechnologies Inc., a genetic engineering and biosynthesis research firm. Its clinics operate a combined database of approximately 27,000 patients. The firm was originally known as Lifestyle Delivery Systems Inc. before changing its name in September 2019 to Core One Labs Inc. It is a publicly-traded company with shares listed on the Canadian Securities Exchange under the COOL symbol, on the Borse Frankfurt Exchange under the LD6, WKN: A14XHT symbol, and on OTCQX under the CLABF ticker symbol.
Core One employs a multi-facet business strategy incorporating diversified and complementary business categories and units to establish its footprint in the ever-growing psychedelics market. It pursues the development and commercialization of swift-onset treatment solutions that improve the quality of life while maximizing returns for investors. The firm focuses on researching and developing novel biologically synthesized cGMP API-grade psychedelic compounds and generating psychedelic-assisted modes for treating mental health and neurological complications.
Through research and proprietary delivery methods used by the CannaStrip technology, the company is committed to increasing the efficacy and bioavailability of its existing drug portfolio, including psilocybin, distributed via clinics. The bioavailability of cannabis constituents in Core One’s proprietary technology increases the absorption efficiency of the ingredients, which is vital for patients seeking alternative health treatments. Core One closed the double acquisition of Rejuva Alternative Medicine Research Centre Inc. and 25% of the non-voting share capital of Shahcor Health Services Inc. in July 2020. Rejuva and Shahcor are privately held and maintain a client base of more than 200,000.
The company later in December 2020, acquired Vocan Biotechnologies Inc., a certified Canada-based genetic engineering and biosynthesis research company developing an economical production approach to biosynthesize GMP API-grade psilocybin. Vocan’s team of Scientists specializing in biosynthetic fermentation and protein expression discovered a patentable method for producing psilocybin, an active ingredient in psychotropic mushrooms. On December 31, 2020, the company successfully disposed of a significant number of its non-core assets to focus more on the psychedelic space and the development of its CannaStrip technology. The world antidepressant drug market was valued at $13.7 billion in 2016 and was projected to hit $15.9 billion by 2023 with a CAGR of 2.1%.
Corporate Business History
Core One changed its name from Lifestyle Delivery Systems Inc. to accurately reflect its functional specialization and capture a perfect scope of its products and services. It was initially a technology firm that used its technology to operate a state-of-the-art production and packaging plant in Southern California. Through Core Isogenics Inc. and CSPA Group Inc., its wholly owned subsidiaries, Core One managed a licensed vertically integrated cannabis cultivation, manufacturing, and distribution project in Adelanto, California. It operates in two locations; British Columbia, Canada, and California, USA.
Critical Company Updates
On January 24, 2023, Core One reported Akome Biotech Ltd., its wholly-owned subsidiary, had completed the Phase 1 study of parameters as per its September 2022 press release and consequently entered into a binding contract with Fundació Bosh I Gimpera, representing the University of Barcelona, to initiate Phase 2 studies. The studies aim to investigate the therapeutic potential of the company’s bio-compounds, independently and jointly with various psychedelic components on the central nervous system. Results of the studies are vital to Akome's pre-clinical development of generational psychedelic drug options for treating a range of neurological disorders, including Ischemic Stroke, Parkinson's Disease, and depression.
On January 13, 2023, the company announced that it had successfully acquired GMP Drug Inc., a privately-owned firm that operates a certified GMP facility in Ontario. GMP Drug’s pharmaceutical drugs production facility holds a CDSA Dealer's License, a US FDA registration, and meets all the Food and Drug Regulations in Canada. The laboratory can produce GMP Active Pharmaceutical Ingredient (API) grade compounds comprising those of scheduled psychedelics. The acquisition will boost Core One’s production and allow it to become a full-cycle psychedelic distributor for the Canadian and global markets. GMP Drug’s facility will provide Core One’s subsidiaries with an equipped facility needed to expand research and production.
Core One released its MDA for the nine months that ended September 30, 2022, on November 28, 2022. Highlights of the company’s third-quarter financial results include:
- Recorded $1,181,977in net losses compared to $5,532,986 in the same quarter of 2021
- Total expenditures decreased to $1,169,873 from $1,246,965 in the third quarter of 2021
- Closed the quarter with a cash balance of $145,809 compared to $763,345 on December 31, 2021.
Joel Shacker, CEO
- Has seven years of extensive experience working in the cannabis and finance sectors
- Was the CEO of Thoughtful Brands Inc, an e-commerce cannabis company, before joining Core One
- Has worked across different regions, including Europe, Central America, North America, and South America
- His expertise and business acumen have seen him acquire and integrate more than 20 different properties in various industries, summing to over $150,000,000 in acquisitions in his career.
Dr. Santiago Ferro, Chief Medical Officer
- An internationally renowned physician with more than 20 years of experience in the biological, pharmaceuticals, and biotech industries
- He has held numerous senior research and development positions where he was responsible for clinical development programs, design, implementation, and analysis of clinical trial data.
- He has a track record of relationship building, project management, and clinical plan designing to produce trendy market products.
- He graduated from Javeriana University Medical School, where he specialized in Internal Medicine.
- He later acquired his sub-specialty training in Infectious Diseases at the University of Toronto.
Jan Burian, Chief Technical Officer at Vocan Biotechnologies
- A successful molecular biologist and biochemist with exquisite knowledge in operations, research and development, and fermentative API-production scale-up
- He was previously a site director at Pfizer.
- ↑ CLABF Company Profile – seekingalpha.com/symbol/CLABF. Accessed on February 8, 2023.
- ↑ CORE ONE LABS INC. MANAGEMENT’S DISCUSSION & ANALYSIS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022, page 3. – SEDAR. November 28, 2022.
- ↑ Core One Labs Business – Core One website. Read on February 8, 2023.
- ↑ 4.0 4.1 CORE ONE LABS INC. MANAGEMENT’S DISCUSSION & ANALYSIS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022, pages 3 & 4. – SEDAR. November 28, 2022.
- ↑ Core One Labs' Akome Signs Contract with the University of Barcelona: Initiating Animal Model Studies on Psychedelics Drug Development to Combat a Variety of Neurological Diseases – Yahoo Finance. January 24, 2023.
- ↑ Core One Labs' Acquires GMP Drug Inc.: Positioning Itself as a Full Cycle Psychedelics Supply Chain Solution for Clinicians, Researchers, and Other Drug Developers – Seeking Alpha. January 13, 2023.
- ↑ CORE ONE LABS INC. MANAGEMENT’S DISCUSSION & ANALYSIS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022, pages 13 & 14. – SEDAR. November 28, 2022.
- ↑ Our Leadership Team – Core One Labs website. Read on February 9, 2023.
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