Company
CNSX:BUZZ
PharmaDrug Inc is a specialty pharmaceutical company focused on the research, development and commercialization of controlled substances and natural medicines such as psychedelics and previously approved drugs. The company owns 51% of Sairiyo Therapeutics, a biotech company specialising in researching and reformulating established natural medicines to bring them through clinical trials and the associated regulatory approval process in the US and Europe.
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"With the submission of our orphan drug application to the FDA now complete we will move swiftly to accelerate the research and development of DMT for acute ischemic stroke," said Daniel Cohen, CEO of PharmaDrug
He will lead the R&D initiatives of N,N-Dimethyltryptamine (DMT) for mental health, neurological, and inflammatory disorders
Not just that, the Canada-listed business has planted flags in Germany and the Netherlands
Under the supply agreement, the company's licensed German distributor, Pharmadrug Production GmbH will purchase branded medical cannabis from the supplier's German subsidiary
"We are extremely excited to close the acquisition of Sairiyo and enter into a new phase for PharmaDrug. The acquisition helps complete PharmaDrug's business model by adding a vertical in research and development"
Sairiyo’s lead drug candidate, Cepharanthine, is a repurposed and reformulated naturally derived compound being developed to treat rare forms of cancer
