Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

PharmaDrug looking to develop and commercialise a range of psychedelics, cannabis and naturally-derived drugs

% of readers think this story is Fact. Add your two cents.


  • Owns 80% of Pharmadrug GmbH, a German medical cannabis distributor
  • Owns 100% of Super Smart, a Dutch company building a modern adult-use psychedelic retail business
  • Recently acquired Sairiyo Therapeutics, biotech firm specializing in researching and reformulating established natural medicines

What Pharmadrug does:

PharmaDrug Inc. (CSE:BUZZ) (OTCPINK:LMLLF) 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. 

In Medical Cannabis, the company currently sources and wholesales product to pharmacies in Germany with a strategy to launch and develop its own brand of cannabis for distribution in Germany and other legal jurisdictions in the European Union. The company owns 80% of Pharmadrug GmbH, a German medical cannabis distributor, with a Schedule I European Union narcotics license and German EuGMP certification.

In psychedelics, the company has said it intends to utilize a unique two-pronged approach. The first will be to capitalize on markets in The Netherlands through consolidation of legal adult-use psychedelic dispensaries.  Secondly, as products get developed and achieve regulatory approval or get legalized in jurisdictions across the Eurozone, the company will seek to utilize the company’s controlled substance important and distribution license to establish a pharmaceutical psychedelic business. 

The firm 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 Japanese biotech company that specializes in researching and reformulating established natural medicines with a goal of bringing them through regulatory and research-driven clinical trials.

Sairiyo is focused on repurposing and developing improved formulations of naturally derived compounds for serious, rare, and life-threatening diseases with the aim to obtain European Medicines Evaluation Agency and US Food and Drug Administration (FDA) approval.

How is it doing:

PharmaDrug has had a busy start to 2021.

At the start of February completed its acquisition of Sairiyo Therapeutics. Sairiyo is advancing the clinical development of its lead drug candidate, Cepharanthine, a repurposed and reformulated naturally derived compound for the potential treatment of cancer, neurological, inflammatory and infectious diseases. The company is also developing a strategy to commence research activities in the psychedelic space.

Also in February, PharmaDrug revealed that it entered into a supply agreement on January 4, 2021, with a Canadian-based multinational cannabis company for EU-GMP certified medical cannabis, with the supply already registered and approved for sale in the German market.

Under the agreement, the company’s licensed German distributor, Pharmadrug Production GmbH will purchase branded medical cannabis from the supplier’s German subsidiary. Pharmadrug Production has already received regulatory approval to distribute the cannabis and the product has been added to their license. 

The group said the flower will be imported into Germany by the global supplier and sold under the supplier’s medical cannabis brand.

The company noted that it expects to begin receiving shipments of cannabis shortly with the goal of commencing distribution to its pharmacy network in the current quarter of 2021.

At the same time, PharmaDrug said it had also made significant advancements towards launching a CBD line. The CBD business model will differ from PharmaDrug’s Medical Cannabis business as it will seek to be a supplier of branded product to be sold via distributors and e-commerce platforms.

A quality supplier has been sourced and Pharmadrug Production is already in possession of its first shipment of bulk inventory. The product has been tested by several potential distribution partners and the feedback has been positive, and the company’s management is in the process of registering the product for approval with the applicable state regulator.

Once approval has been obtained, the company will finalize distribution agreements and begin to package the product for retail sale under a proprietary Pharmadrug brand.

PharmaDrug also revealed in February that its balance sheet had undergone a significant improvement since it reported its third-quarter numbers.

Firstly, the selling of marketable securities and the exercising of the company’s warrants have contributed to an increase of cash on the balance sheet, now equaling approximately $3.5 million. Secondly, the Interrobang debentures have been converted into equity resulting in approximately $2.5 million in debt being eliminated.

The company said it still holds marketable securities with a current value of over $1 million dollars and PharmaDrug has “in the money warrants” outstanding which can potentially bring in approximately $1 million in additional cash.

The group said its management believes it has more than enough cash on hand to fund all its activities in 2021.

In the boardroom, on February 8, PharmaDrug announced the appointment of world-renowned chemist and neuroscientist Dr Steven Barker to the company’s newly formed scientific advisory board for psychedelic pharmaceuticals.

The company said Dr Barker will lead the research and development initiatives of N,N-Dimethyltryptamine (DMT) for mental health, neurological, and inflammatory disorders. He is professor emeritus at Louisiana State University in the Department of Comparative Biomedical Sciences at the School of Veterinary Medicine.

Dr Barker has been actively involved in the research of psychedelics, with a primary focus on DMT since 1976 and appeared in the 2010 documentary “DMT: The Spirit Molecule,” which was hosted by actor and commentator Joe Rogan, the company noted.  

Inflection points:

  • Further expand its supply channels
  • News on discussions with Eurozone emerging extractors to supply white label product
  • Register own cannabis strain from Eve & Co offerings

What the boss says:

In February’s statement, PharmaDrug chairman and CEO Daniel Cohen said: “We will continue to work to expand our supply channels with the aim of supplying several key brands as well as developing our own. Our goal is to be a one-stop-shop for pharmacies seeking medical cannabis.

“To this end, we also continue to work with Eve & Co Incorporated to register our own strain from Eve’s offerings, and much progress has been made in this regard. We are also in advanced discussions with emerging extractors within the Eurozone to supply us with a white label product that we can sell under our own brand.”

Contact the author at [email protected]

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/940929/pharmadrug-looking-to-develop-and-commercialise-a-range-of-psychedelics-cannabis-and-naturally-derived-drugs-940929.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST


Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

MOST RECENT
Load more ...

SignUp

Login

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.