For anyone looking to cut down their coffee fix, they may soon have a natural alternative in the form of mushroom nootropics which acts as an even stronger cognitive stimulant than caffeine with manufacturer Bioxyne (ASX: BXN) making its first sales.
The sale of Dr Watson products came via Amazon US where the mushroom nootropics products are listed online, while they are also available in Japan via Amazon.
Mushroom nootropics are a specialised category of natural supplements that harness the powerful cognitive-enhancing properties of various mushroom species. Nootropics, often referred to as “smart drugs” or “cognitive enhancers,” are substances known for their ability to support cognitive function, memory, focus, and overall brain health without causing significant side effects. They are formulated with vitamins and minerals and as a supplemental product for energy levels, they are a popular replacement for coffee.
“We are pleased with the rapid uptake of Dr Watson products on Amazon after significant work in the past year in obtaining approvals,” said Bioxyne CEO, Sam Watson.
The products are subject to regulatory approvals in each country they are sold, but Watson expects more to come online soon, beyond the US and Japan.
“We expect to go live on Amazon Australia in the coming months. The Company holds licenses to import and export CBD based products in Australia, and we await TGA Pharmaceutical GMP inspection in September, to enable us to scale existing production facilities”.
The Dr Watson mushroom nootropics range features a meticulously selected blend of adaptogenic mushrooms, each known for its unique bioactive compounds.
Beyond this range of nootropics, Bioxyne also has a broader portfolio of CBD (cannabidiol) products which it has listed on Amazon in Japan. The products are produced out of Bioxyne’s fully accredited laboratory in Japan where the Company anticipates annual revenue of more than $1 million in FY24 from the Japanese market alone.
Leveraging the reach of Amazon and its distribution centres around the world, Bioxyne also has plans to list its products in the UK, Germany and France.
Interest in mushroom nootropics within the wellness community is driven by its natural cognitive support with minimal side effects. Unlike synthetic nootropics, mushroom nootropics are derived naturally, making them more appealing to health-conscious consumers who prefer holistic approaches to enhance brain function.
As people become more aware of cognitive health and seek ways to improve focus, memory, and mental clarity, the interest in nootropics, including mushroom-based ones, has seen a surge.
For the 9 months ended 31 March 2023, Bioxyne reported $1.98m revenue with net cash operating outflows for the period totalling $341k. The company had a cash balance of $3.4m at the time and will report it’s full year cash flow later this month.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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