PHARMADRUG
INITIATES DMT
RESEARCH ACTIVITIES
VIA
COLLABORATION
WITH THE
UNIVERSITY OF MICHIGAN FOR FOUNDATIONAL DMT
RESEARCH
STUDY
Toronto, Ontario,
Canada -- March 16, 2021 -- InvestorsHub NewsWire --
PharmaDrug Inc. (CSE: BUZZ) (OTC: LMLLF) ("PharmaDrug"
or the "Company"),
a
specialty pharmaceutical company focused on the research,
development and commercialization of controlled-substances and
natural medicines such as psychedelics, cannabis and
naturally-derived approved drugs,
is pleased to
announce that the Company has
entered into a
sponsored research agreement with the University of
Michigan, under the direction of
Dr. Jimo Borjigin as Principal
Investigator,
to evaluate N,
N-dimethyltryptamine's ("DMT") potential role
in
normal, diseased
and altered states of consciousness in a newly created animal
model, with
the objective to develop novel therapeutic
strategies of DMT for clinical unmet medical
needs currently not addressed by DMT.
Dr.
Borjigin
is a faculty member
of the Center
for Consciousness Science at the University of Michigan Medical
School and is an Associate Professor in
the Department of Molecular and Integrative Physiology and the
Department of Neurology at the University of
Michigan. She received
her
PhD in Neuroscience
from the Johns Hopkins University and has published
ground-breaking foundational
research
with DMT since 2012
including the discovery of DMT production
in the pineal gland of live rats and comparable levels of DMT to
common neurotransmitters (dopamine, serotonin, and norepinephrine)
in the brain. Dr. Borjigin's work on DMT continues to evolve and leads
to new discoveries of potential functions and understandings of
DMT that can
be translatable and clinically relevant.
"I
have a long
history in studying DMT and I have dedicated my research in
understanding how the brain functions and
its effects on the heart in normal
and abnormal states that can translate to relevant
clinical uses," said Dr. Jimo Borjigin. "I am pleased to collaborate
with PharmaDrug on DMT in a novel research project that could
provide new
insights and a foundation on DMT's
clinical
utility
for
unmet medical
needs."
"We are excited to
work with Dr. Borjigin, a prolific DMT
researcher, in advancing her pioneering
initiatives that seeks to unlock the potential
of DMT," said Daniel Cohen, CEO of
PharmaDrug. "Our research collaboration
with the University of Michigan and its commitment on
consciousness science is essential to our
psychedelic
pharmaceutical strategy of creating a unique portfolio of DMT
therapies targeting rare disorders while also focusing on
foundational research with DMT to explore and evaluate its
therapeutic potential across all physiological areas
of the human body."
Following
the acquisition of Sairiyo Therapeutics and its biotech R&D
core competencies, PharmaDrug has undertaken efforts to expand its
research activities in the pharmaceutical psychedelics space. The
Company's psychedelic pharmaceutical strategy will focus
specifically on
DMT. Through engagement with respected academics and
medical/clinical KOLs in the space, management will initiate
pivotal preclinical and clinical development activities. Taking
advantage of existing expertise and relationships, PharmaDrug will
seek to broaden its intellectual property portfolio by creating
unique DMT formulations. Further differentiation in the space will
be derived from the work that PharmaDrug will initiate around novel
uses for DMT; the ultimate goal of which is to fuse outstanding
science and clinical translation.
About
PharmaDrug Inc.
PharmaDrug is a
specialty pharmaceutical company focused on the research,
development and commercialization of controlled-substances and
natural medicines such as psychedelics, cannabis and
naturally-derived approved drugs. The Company owns 80%
of Pharmadrug Production GmbH, a German
medical cannabis distributor, with a Schedule I European Union
narcotics license and German EuGMP certification allowing for the
importation and distribution of medical cannabis to pharmacies in
Germany and throughout the EU. The Company also owns 100% of Super
Smart, a Dutch company building a modern adult use psychedelic
retail business with an elevated and educational focus. PharmaDrug
recently acquired Sairiyo Therapeutics, a biotech company that
specializes in researching and reformulating established natural
medicines with a goal of bringing them through regulatory and
research driven clinical trials.
For further information, please
contact:
Daniel Cohen, Chairman and
CEO
dcohen@pharmadrug.co
(647) 202-1824
Caution Regarding
Forward-Looking Information:
THE CANADIAN SECURITIES
EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
This press
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to: advancing
the clinical development of Cepharanthine;
advancing
into FDA clinical trials for
esophageal cancer; finding other
avenues for Catharanthine's
diverse
opportunities; developing
a
strategy to commence unique and value adding research in the
psychedelic space. This
forward-looking information reflects the Company's current beliefs
and is based on information currently available to the Company and
on assumptions the Company believes are reasonable. These
assumptions include
but are not
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for the Company and Sairiyo; and the
Company's continued response and ability to navigate the COVID-19
pandemic being consistent with, or better than, its ability and
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and other factors that may cause the actual results, level of
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market conditions and market prices for securities; the actual
results of the Company's future operations; competition; changes in
legislation affecting the Company; the ability
to obtain and maintain required permits and approvals,
the timing
and availability of external financing on acceptable terms; lack of
qualified, skilled labour or loss of key individuals; risks related
to the COVID-19 pandemic including various recommendations, orders
and measures of governmental authorities to try to limit the
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and sales channels, and a deterioration of general economic
conditions including a possible national or global recession; and a
deterioration of financial markets that could limit the Company's
ability to obtain external financing.
A
description of additional risk factors that may cause actual
results to differ materially from forward-looking information can
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at www.sedar.com. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. Accordingly, readers should not
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plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those
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The
Company's securities have not been registered under the U.S.
Securities Act of 1933, as amended (the "U.S. Securities Act"), or
applicable state securities laws, and may not be offered or sold
to, or for the account or benefit of, persons in the United States
or "U.S. Persons", as such term is defined in Regulations under the
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or any jurisdiction in which such offer, solicitation or sale would
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by this cautionary statement. The forward-looking information
contained in this press release represents the expectations of the
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subject to change after such date. However, the Company expressly
disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new
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