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The application follows the Company's approval from the New Mexico Board of Pharmacy this year.
GRANTS, NM, March 07, 2024 (GLOBE NEWSWIRE) -- Bright Green Corporation, a Delaware corporation (the "Company"), announced today the submission of its DEA Registration for Bulk Production of Schedule I and Schedule II Controlled Substances. The application is an official and substantial step in Bright Green's expansion into the legal manufacturing of plant-based controlled substances including psilocybin, peyote, ibogaine, coca leaves, and opium poppy, alongside their active pharmaceutical ingredients ("API") for medical, research, and other legal purposes. The move aligns with Bright Green's commitment to providing a domestic supply of essential medications, addressing critical concerns associated with disruptions to the global pharmaceutical supply chain, and the national security risk currently posed by the United States' dependency on imports.
Last year, Bright Green obtained its DEA Registration for the Bulk Manufacturing of Cannabis, a Schedule I Controlled Substance, and recently received approval from the New Mexico Board of Pharmacy to produce additional Schedule I and Schedule II Controlled Substances. In response to these approvals already in place, Bright Green has undergone substantial renovations and expansions at its Grants, New Mexico facility to support this new era of operations.
"Our vision is to play a vital role in production, storage and supply of plant and fungi-based controlled substances domestically to secure and continue the plan for "Drugs Made in America" said Bright Green's CEO Groovy Singh on Monday. "Through continued rigorous compliance with federal, state, and local regulations, we aim to contribute to the advancement of medical research and alleviate the impact of chronic diseases affecting a significant portion of the U.S. population."
Bright Green's application demonstrates its dedication to meeting the public interest factors outlined by 21 U.S.C. § 823(a), including effective diversion control, compliance with laws, promotion of technical advances, and a commitment to public health and safety. The Company has assembled a team of experienced professionals to lead its controlled substance production efforts, ensuring adherence to stringent security and compliance standards.
The submission of this registration marks a significant milestone for Bright Green Corporation as it pioneers the "Drugs Made in America" movement. The Company looks forward to collaborating with the DEA and the State of New Mexico to facilitate the safe and responsible production and distribution of medications to meet rapidly growing demand.
Posted In: BGXX
