CARSON CITY, NV / ACCESSWIRE / June 24, 2021 / CECORS, INC. (OTC PINK:CEOS) ('CeCors' or the 'Company'), through its wholly owned subsidiary PsyKey Inc., is pleased to announce it has entered into discussions to establish a strategic partnership with biotechnology company, Zealous Inc.
"Identifying and forming new partnerships is essential to building a solid foundation to expedite the development and launch of PsyKey's unique functional beverage and supplement product offerings," stated Amar Bhatal, President of CeCors, Inc.
Zealous Inc. is a Canadian Biotechnology company whose focus is the development of psilocybin and psilocin, commercially produced using its proprietary bioreactor fermentation technology. Zealous Inc's impressive bioengineering team includes ten PhDs who have a successful track record of producing 99+% pure cytosine, orotate, and beta-nicotinamide mononucleotide on a commercial scale.
Zealous Inc. also has a successful history in product development and commercialization utilizing active compound identification, formula development, recipe design and optimization, as well as consumer trials and clinical studies. The Zealous team has over 15 years of experience in the food, beverage, and supplement industries. Senior management has successfully managed over 40 stock keeping units (SKU) and has launched 13 new products/formulas in both the United States and Canada.
“We are very excited about this opportunity. The Non-Disclosure Agreements (NDA's) are signed, and we have been in ongoing discussions with the Zealous Inc. team for several weeks to reach a mutually beneficial agreement. The biotechnology capabilities of Zealous Inc. demonstrate a proven track record in establishing product functionality. Their existing relationships with contract research firms and hospitals will allow us to potentially conduct future clinical trials of future PsyKey products,” concluded Amar Bhatal.
PsyKey will continue to develop additional strategic partnerships as it positions itself in the fast-evolving mushroom markets. With the psychedelic drug market projected to reach the multi-billion-dollar mark by 2027, working with a world-class mycologist and partnering with innovative companies like Zealous, whose goal is commercial production, PsyKey is building on its objectives of long-term growth and increased investor value.
For further information:
Safe Harbour Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward- looking statements are not guarantees of future performance, and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency, and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward- looking statements.
SOURCE: CeCors, Inc.
View source version on accesswire.com: