Proactive New York:
Hello and welcome to Proactive New York. Joining me today is Parminder Singh from Albert Labs. Parminder good to meet you. So if we could just kick things off with a quick introduction from you, tell us who you are, what your role is with Albert labs.
Well, sure thank you. My background is varied and it is broad, and I’ve been blessed with having the opportunity of work with, you know, in satellite systems, design, iridium and Teledesic and lots of big companies that have launched satellites.
I have spent time with video gaming business, where I was instrumental in launching XBox. As of the last 10 years, I was with, Intellectual Ventures, which is one of the largest patent holders in the world. So my understanding of patents got to be quite good.
What I bring to Albert Labs is all that knowledge, how to work with teams, systems, and how to scale. This is critical for Albert Labs and of course patents. The patent side is really interesting for me because it provides the platform in which to secure your revenue streams and protect your intellectual property.
I head the scientific advisory board and that involves architecting all the different pieces and making sure we’re taking the right steps in the right direction. Albeit sometimes small, sometimes large.
So tell us a bit about Albert Labs’ patent strategy and how it might kind of differ from others who are in the same space?
Well, the patent strategy is used to secure ideas and ensure that your revenue streams that you have are in fact intact, stay intact. It provides stability, and it provides value. So in terms of the actual patent, our patent differs because it’s a method pattern. It’s a method in which we grow the compounds that we are looking for, mycelia and psilocybin. So it’s not that we add a synthetic. Ours is completely natural. And so we looked at it from a different perspective, completely. We looked at it as how do we create something that encourages the production or predictable production of mycelia. And so ours is a method rather than an additive or a different approach that other people have used.
Now, this is the first of many patents we will file in terms of overall patent strategy. We believe that the innovation that we have filed or the patent that we have filed has a broad spectrum. So there are many, many different types of fungi. We believe the same process or same idea would be used in many other areas and help us expand our opportunities in the market.
You have filed a patent in the US so I guess, can you explain a bit more, why you think it’s so valuable for Albert Labs?
This isn’t a patent that, oh, we filed a patent and we’re going to kind of figure it out later. We’ve actually figured it out first and then as a result we filed a patent. Those are the most valuable, those are the most powerful that you can see because they’re, they’re purposeful. The patent we have filed will help us with a consistent high production yield of mycelia and therefore psilocybin. And it’s predictable, it’s consistent. It means that there’s not a, you know, one day we’re not going to get a poor batch versus a good batch of things.
So from that perspective, it helps with the stability of the company, with the predictability of the company, the supply chain, what we offer to our patients.
Can you just talk a bit more about how this might assist Albert Labs’ plan for growth, and I guess eventually treating those patients in the UK.
In terms of, growth and scalability, we think this is an unfair advantage for us, which is fantastic. It isn’t, like I said, adding compounds to the mix. It isn’t adding synthetics to the mix. It is creating an environment where our mycelium can grow and enjoys growing and is comfortable growing. So it’s the physical parameters around, around it. Therefore, if you like where you live and your home is comfortable, it’s the right temperature you kind of like to live there. This is what we have done with mycelium. So that gives us the advantage in terms of growth, stability, consistency and high production yield, which is the most important thing from a business and investor perspective.
All right. Well, we look forward to following the story for sure. Parminder, thank you so much for the time.
You’re quite welcome. Great to talk with you.
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