Privately owned psychedelics company Huxley Health Inc. completed its acquisition of Canadian drug discovery company Sintalica and named Bruce Linton as its new chairman.
Sintalica operates through its Italian subsidiary and is focused on using psychedelics to create treatments for neuroinflammatory disorders. Sintalica filed four provisional patents for proprietary psychedelic molecules with unique properties, improved stability and safety profiles, and enhanced bioavailability. The deal was an all-stock transaction valued at $7.2 million.
Former Canopy Growth founder and CEO Bruce Linton was named as the company’s new chairman, replacing Michael Marchese, who previously served as the company’s only director. Linton is also chair of the advisory board of Red Light Holland Corp. (CSE: TRIP).
The company continued to beef up its board and C-suite with an all-male team featuring new board members Fabian Monaco, who was also the co-founder and former CEO of Gage Growth Corp., which was acquired by TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF), and investor John Di Girolamo.
Huxley named Jared Rhines as its new chief executive officer. Rhines’ experience spans clinical research, regulatory affairs, sales, marketing, and market access in multiple therapeutic areas, including rare diseases, neurology, cardiology, and critical care. He, along with five colleagues, founded INO Therapeutics, a company that was eventually acquired for $2.3 billion.
The new chief science officer is George Jackowski, who has experience clearing 25 products through the FDA and commercializing them globally, with revenues exceeding $10 billion. He holds more than 200 issued patents.
Peter Kampian was named the chief financial officer.
Together Huxley and Sintalica have raised $6 million. The company has also successfully filed more than 10 U.S. patents to protect its intellectual property portfolio, including candidates undergoing pre-clinical testing.