Algernon Pharmaceuticals Inc (CSE:AGN) (OTCQB:AGNPF) (FRA:AGW), the drug repurposing company, aims to begin a clinical trial as soon as possible this year, to examine the psychedelic compound DMT as a treatment for stroke.
Unlike other companies researching such drugs, Algernon said it will focus on a sub-hallucinogenic, or microdose of DMT given via continuous intravenous administration - the aim being the patient will not have a psychedelic experience. This approach may also allow for a quicker pathway to regulatory approval, including a Breakthrough Therapy designation from the US FDA, it noted.
READ: Algernon Pharmaceuticals set for Phase 3 Ifenprodil coronavirus trial after go-ahead from DSMB
"... Algernon will be working to unlock DMT’s non-psychedelic potential to help promote healing and recovery in the brain from a stroke, one of the most devastating injuries a human being can experience,” said Christopher J. Moreau, CEO of Algernon Pharmaceuticals.
"The Algernon team, which now includes global experts in DMT and stroke research, is uniquely positioned to quickly repurpose DMT into human trials in the most cost and time-effective way possible, just as we did with Ifenprodil in the on-going Phase 2 trial for Idiopathic Pulmonary Fibrosis (IPF) and chronic cough, as well as with our on-going COVID-19 trial."
Algernon noted it had already filed new provisional patents for new forms of DMT, in addition to formulation, dosage and method of use claims for ischemic stroke.
It has also filed claims for combination therapy of DMT and Constraint Induced Movement Therapy (CIMT).
Millions of people suffer the debilitating consequences of a stroke each year. In 2018, the global stroke treatment market was valued at around US$8 billion. This is expected to reach a value of around US$15 billion by the year 2027, with a compound annual growth rate of around 7%.
The company pointed to a recently published pre-clinical study for stroke, which showed that rats treated with DMT recovered motor function more quickly and to a greater extent, and also exhibited lower lesion volumes when compared to control group animals that did not receive DMT.
Key data from this study achieved statistical significance.
DMT (N,N-Dimethyltryptamine), occurs naturally in many plants and animals and is a hallucinogenic tryptamine drug producing effects similar to those of other psychedelics like LSD, ketamine, psilocybin and psilocin.
It has been shown to induce neuroplasticity in a number of key preclinical studies and is believed to activate pathways involved with forming neuron connections.
Algernon said it would conduct pre-clinical research experiments ahead of planned clinical trials. These include:
- Potency of multiple new forms of DMT;
- Toxicology;
- Treatment timing and duration; and
- DMT in combination with CIMT.
Algernon is a drug re-purposing company that investigates safe, already approved drugs, including naturally occurring compounds, for new disease applications.
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Contact the author at giles@proactiveinvestors.com