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Cilo Cybin plans IPO, confirms magic mushroom studies

A company based in Pretoria has been awarded a license to sell cannabis products on a global scale.

Cilo Cybin Pharmaceutical Ltd., a company that operates near Pretoria in South Africa, has become the first local company to win a full cannabis license – including growing, processing and packaging cannabis products.

The company received a Good Manufacturing Process (cGMP) licence and accreditation from the South African Health Product Regulatory Authority (SAHPRA) for pharmaceutical manufacture, product testing, processing, and final packaging of cannabis products in accordance with the Pharmaceutical Inspection Co-operation Scheme (PIC/S) standards.

This makes Cilo Cybin the first cannabis producer in South Africa to have both a GACP (Good Agricultural and Collection Practices) certification as well as cGMP accreditation from SAHPRA. Cilo Cybin received GACP certification in May 2020 which enabled the company to commence cannabis cultivation activities at its indoor high-tech facility in Gauteng.

Cilo Cybin Pharmaceutical Ltd. plans to list on the Johannesburg Stock Exchange and the Luxembourg or another alternative in Europe within the next 12 months.

Their high-tech facilities can produce 100 kilograms of cannabis flower per month and grow the Durban Poison strain, staying true to South African roots. However, Cilo Cybin also plans to explore benefits of the magic mushroom chemical psilocybin.

“Psychedelics can be used for anti-depressants, post-traumatic stress, for anxiety — I really think it is going to be a lot bigger than cannabis even,” Gabriel Theron, Cilo Cybin CEO said.

So far, South Africa has awarded nearly 30 licenses to grow cannabis on a commercial level.

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