MGC Pharma has been given permission to develop and begin research with psilocybin.
The approval arrived from the Slovenian Ministry of Health and makes MGC Pharma one of the first companies to obtain approval to research the medicinal benefits of psilocybin and is the first company in Slovenia to do so.
They will also be able to provide development and compounding services to companies that are working with psilocybin.
The decision means that psychedelics and traditional pharmaceutical companies become one step closer, which may annoy some psilocybin traditionalists. However, it will help in pushing psychedelics more mainstream.
The company currently offers two medicines, one focussing on treating Covid-19 patients and another with a focus on epilepsy.
They are also currently conducting research into cancer and dementia treatment.
Speaking on the approval, Roby Zomer, Managing Director and CEO of MGC Pharmaceuticals, said:
“We are pleased to have obtained permission from the Slovenian Ministry of Health to undertake pharmaceutical research with Psilocybin, which puts the Company at the forefront of experimental, pharmaceutical research. We are extremely grateful to the Slovenian Health Ministry for enabling us to utilise our research expertise in this area.”
Despite the approval from the Slovenian Ministry of Health, it remains years before there are widespread use of psychedelics within Europe, although steps have been made on the other side of the world in Australia.
Until further research and extensive studies are conducted on the benefits of psilocybin for medicinal use, it is unlikely many European countries will be taking the drug off their controlled substances list.