Bright Green announced today that final approval has been received from the New Mexico Board of Pharmacy and the DEA for unique licensing that allows Bright Green to register, license, and authorize Schedule I and Schedule II plant-based drugs and Active Pharmaceutical Ingredients (APIs) for research, production, and manufacturing purposes. Schedule I substances include psilocybin, mescaline, peyote, ibogaine. Schedule II substances include opium, poppy straw, raw opium, opium extracts, powdered opium, granulated opium, tincture of opium, opium fluid extracts, opium straw concentrates. The company said approval for erythroxylon coca (cocaine) is still pending.
The company believes this effort will help address the supply chain shortage for plant-based medicines while establishing Bright Green as a frontrunner for a share of the assessable market in the U.S. that is currently served by imports.
The research will be conducted the company’s C2 team in Albuquerque, New Mexico, and the re-shoring of production and manufacturing to the U.S. will take place at the company’s Grants, New Mexico facility. Medical plants will be produced in climate-controlled glass greenhouses engineered to ensure quality and predictability, laying a roadmap for guaranteed supply contracts with both federal government entities and other pharmaceutical interests. Bright Green expects to be the first company in almost 100 years to produce, manufacture and supply API for Schedule I and Schedule II controlled substances and to deliver on contracts of this type.
“As we undergo an expansion of our infrastructure, we plan to leverage the capital to be raised from our exclusive EB-5 partnership with Asia Capital Pioneers Group, as well as funding from federal agencies”, said Groovy Singh, CEO of Bright Green. “The modular design of our facilities positions us to scale with demand and ensure that as production grows, so does our capacity to create jobs in direct correlation with EB-5 capital availability in a methodical phased approach.”
