Satya Therapeutics Announces Reduced Wholesale Psilocybin Prices in Oregon

*MEDFORD, OR / ACCESSWIRE / March 10, 2024 /* Satya Therapeutics (the Company) is pleased to announce it has lowered the wholesale prices of psilocybin to $1 per mg, or roughly $10 per gram of dried mushrooms. This pricing structure is consistent with plans made in March, 2023 to achieve a $1 per mg wholesale price point. Prior to this announcement, the wholesale price the company offered for sale to licensed service centers was $1.50 per mg of psilocybin.

Andreas Met, co-founder and Chief Operating Officer, states "As a company we have always believed that accessibility to psilocybin services is the most important thing we can offer. We must make services available to people from all walks of life-not just the affluent. The cost of psilocybin at some service centers is up to $500 for a 35mg session. Offering low wholesale prices to other service centers in Oregon allows them to offer lower prices to clients, or to make more profit per client. For example, at Satya's psilocybin service center in Ashland the cost of psilocybin to clients seeking a journey is either $100 for a therapeutic dose (up to 35mg of psilocybin), or $150 for a maximum dose (up to 50mg of psilocybin). Saving several hundred dollars on services makes a big difference to many peoples' ability to afford psilocybin services. And low psilocybin prices have even allowed opportunities for some facilitators to reduce the overall cost of a therapeutic journey to between $500 and $750-all inclusive. That is the most affordable psilocybin service option in Oregon."

The Company has been ramping-up operations to support an increased demand for psilocybin mushrooms in the State. The Company plans to build up its on-hands to 100,000mg of psilocybin analyte-the maximum allowed by the State at a service center. Mr. Met states, "We are looking to grow eight strains at varying potencies to meet our client demand at our Ashland-based psilocybin service center. Clients want both whole and powdered mushrooms. Our expanded selection also allows us to blend strains so clients can have the benefit of multiple strains in one session. Our ramp-up has been an exciting process, and a collaboration with several industry partners."

Jennifer Met, co-founder and CEO, commented, "The Company has served close to three hundred clients to date at our service center. Clients have had significant success in alleviating their mental health burdens via psilocybin services. Our mushrooms have had the desired effect with our clients. We take client feedback and continuously adjust our offering to meet their needs. Our business is 100% client driven."

All psilocybin mushrooms the Company grows are tested by an independent, State licensed, laboratory for potency. This ensures maximum safety. The Oregon services model is unique because there are four different licenses: facilitator, laboratory, manufacturing (grow), and service center-each independent of each other. This provides a safe supply and services chain. There have likely been more than 1,500 clients taking part in psilocybin services in Oregon since services started in July 2023. To date, to our knowledge there appears to not have been a single "adverse event" and the program appears to be exceptionally safe.

The Company was able to receive a copy of all complaints made to the Oregon Health Authority through February 8, 2024. It would appear the biggest risk to safety-according to an analysis Satya made of this complaints document-is individuals and entities operating outside of the licensed framework (unlicensed) while "disguising themselves" as being licensed. Mr. Met opines "Its dismaying to see individuals and entities obscuring their activities and misleading the public regarding their activities. We (Satya and other licensed entities) operate within the OHA framework. That ensures a high degree of accountability for clients and ensures the highest level of safety possible. We strongly encourage potential clients to do their due diligence when looking at any psilocybin service provider, and determine these facts: 1) are they licensed by the OHA, 2) is the license prominently displayed at the address listed, and 3) are there any reviews (e.g. Google Reviews) or success stories that can be viewed that describe client experiences? We (Satya) are strong believers that these bad actors will be weeded-out over time. The mushrooms always show the truth."

The Company currently sells its wholesale psilocybin products to three other licensed service centers. There are now seven licensed manufacturers in Oregon, each new manufacturer has been offering even lower prices than the last. Mrs. Met states, "I personally speak to potential clients seven days a week and find they are knowledgeable about the Oregon psilocybin market and they are price conscious. Clients navigate many hindrances: financial, geographical, mental health conditions, and physical ailments for example. These are difficult financial times, so we are and ALWAYS HAVE been committed to offering pricing options to serve people from all walks of life. And the Company wants to support fellow service centers in keeping costs of psilocybin low, plain and simple. Competitors have admonished us for doing so but we will always strive to be client based."

When asked how this good news of possible lower prices might be received in the Oregon psilocybin market, Mr. Met said, "Look, we made the commitment to $1 per mg when we started operations in 2023. We had to take prices up for a while because our sales volume was low. Increasing the number of clients visiting Oregon is what this industry needs, and we are proud to take a leadership position making the cost of services more affordable. Every day our clients thank us for making services affordable. That makes the entire Satya network very proud."

For more information about Satya Inc. Contact:
Andreas Met, co founder and COO
541-930-2478 or
andreas@satyatherapeutics.com
www.satyatherapeutics.com

*SOURCE:* Satya Inc.
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