Doseology Completes Development and Test Marketing of Adaptogenic Mushroom Product Line
VERNON, BC, Jan. 6, 2022 /CNW/ - Doseology Sciences Inc. (CSE: MOOD) ("Doseology" or the "Company"), a British Columbia-based diversified life sciences company developing mushroom-based health and wellness solutions, announces the successful soft launch of seven new adaptogenic mushroom products in the United States, and the upcoming launch of the product line in the Canadian market during the first quarter of 2022.
Doseology's new medicinal mushroom products have successfully completed test marketing with overwhelmingly positive ratings and reviews. Being among the most comprehensive available on the market, they will help fill the growing demand for high-quality adaptogenic nutraceuticals. The new line employs adaptogenic blends to improve on the single-extract tinctures commonly available. Blends have a higher market value because of increased user benefits and development challenges.
The proprietary formulations make extensive use of natural mushroom fruiting bodies, pairing adaptogenic botanicals with vitamins for increased efficacy. Significant research has shown positive effects of adaptogens with respect to stress reduction, resistance to mental fatigue, and improved attention capacity. The Doseology line combines adaptogens such as ginger, turmeric, yerba mate, and several mushroom species, with proven functional mushrooms such as lion's mane, reishi, shiitake, maitake, royal sun, turkey tail, and others. These blended formulations deliver enhanced health and wellness benefits over single-ingredient products.
The new product line addresses the functional mushroom market, projected to grow to US$572 billion globally by 2028 with a CAGR of 6.1 percent (Data Bridge Market Research). Products in the new Doseology line address different segments of the market, including mood and depression, attention and focus, sleep and recovery, and anxiety.
In preparation for the Canadian launch, Doseology has received six Natural Product Number (NPN) licenses from Health Canada. The Company is currently exploring Canadian distribution channels, which is planned to include Amazon.ca. With US$7.14 billion in net sales (Statista, 2020), Amazon.ca is by a wide margin Canada's largest online retailer. The Company's direct marketing focus will enable it to quickly reach consumers who can benefit most, provide an engaging customer experience, and establish long-term relationships to maximize revenue.
Daniel Vice, Doseology CEO and Director, comments, "After many months of product development, testing, and regulatory approval, we are pleased to finally launch our products in the U.S. market, and soon in Canada. By incorporating the nutrient-dense fruiting bodies of functional mushrooms and natural health-promoting adaptogens, our products were designed to optimize the user experience which reflects our commitment to deliver high-quality, natural solutions to improve physical & mental health."
A core element of the Company's mission is developing and providing psychedelic treatments for restoring mental health. Once the regulatory framework has been established, Doseology's product line will form the foundation for psilocybin-based therapeutics, creating an entirely new market and fulfilling the Company's vision of better mental health and wellness for millions globally.
Doseology has completed its application with Health Canada to become a "Licensed Dealer" under the Controlled Drugs and Substances Act (Canada), which would permit the production of psychedelic compounds including psilocybin and psilocin, and mark a significant milestone in achieving the Company's vision.
These announced developments will give consumers better access to the healing power of medicinal mushrooms, and bring Doseology closer to delivering innovative wellness solutions and mental health therapies.
Learn more about Doseology's medicinal mushroom product line at doseology.com.
On Behalf of the Board of Directors
About Doseology Sciences Inc.
Doseology Sciences Inc. (CSE: MOOD) is a British Columbia-based diversified life sciences company, on a mission to reimagine mental health therapies through innovation, technology and sustainability. With a focus on psychedelic and non-psychedelic compounds, Doseology will offer cutting-edge therapeutic products and services, with the aim of making a meaningful impact on the mental health pandemic and improving overall health.
Forward Looking Statements
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SOURCE Doseology Sciences Inc.
Company Codes: CNSX:MOOD
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