Pharmadrug

Pharmadrug Inc is a medical cannabis distributor company that imports and distributes medical cannabis in Germany and throughout the EU.

<div>Toronto-based PharmaDrug is a specialty pharmaceutical company that focuses on developing treatments based on controlled substances and natural medicines such as psychedelics and cannabis. Founded in 2011, PharmaDrug claims to be the first company in the world to receive Orphan Drug Designation (ODD), a special status given to rare disease treatments, from the FDA to the psychedelic substance, dimethyltryptamine (DMT) for the prevention of ischemia-reperfusion injury (IRI) from organ transplant surgery.&nbsp;</div>

Promising research and receding stigma are giving investors cannabis-boom flashbacks.

Psychedelic Medicine

PharmaDrug

PharmaDrug Announces Director Appointment and Resignation

<div>
 
 Toronto-based PharmaDrug is a specialty pharmaceutical company that focuses on developing treatments based on controlled substances and natural medicines such as psychedelics and cannabis. Founded in 2011, PharmaDrug claims to be the first company in the world to receive Orphan Drug Designation (ODD), a special status given to rare disease treatments, from the FDA to the psychedelic substance, dimethyltryptamine (DMT) for the prevention of ischemia-reperfusion injury (IRI) from organ transplant surgery.&nbsp;
 
 
 The company operates three subsidiaries: PharmaDrug GmbH, a legal medical cannabis distributor in Germany and the EU; Super Smart, an adult-use psychedelic retail business, which it acquired in June 2020; and Sairiyo Therapeutics, a biotech company focusing on natural therapeutics, which it acquired in February 2021. Further in October 2023, the company acquired 
 <a href="https://sp-edge.com/updates/23193">
 SecureDose Synthetics
 </a>
 , a synthetic formulation company in an all-share transaction to strengthen its R&amp;D capabilities.&nbsp;
 
 
 The company had been listed on the Canadian Securities Exchange since August 2018 under the ticker symbol &ldquo;PHRX&rdquo; (previously &ldquo;BUZZ&rdquo;).
 
 
 Key customers and partnerships
 
 
 <a href="https://sp-edge.com/updates/16656">
 In February 2023
 </a>
 , PharmaDrug entered into a partnership with PharmaTher, a psychedelic-focused drug developer, to study the delivery of DMT using PharmaTher&rsquo;s novel microneedle patch (MN- patch) delivery technology. Going forward, both companies will continue to work on product and clinical development, leading to initiating regulatory discussions for the use of the DMT MN-patch for various mental health conditions such as major depressive disorder.
 
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<div>
 
 Canadian biotech firm Core One Labs maintains three primary business operations: 1) developing novel delivery systems for psychedelic medicines, 2) psilocybin manufacturing, and 3) medical clinics to provide psychedelic-assisted psychotherapy. The company has developed proprietary technology with infused strips that dissolve immediately when placed in the patient&rsquo;s mouth to deliver molecules with a higher level of bioavailability. The company plans to advance this technology to incorporate psychedelic molecules, particularly psilocybin.&nbsp;
 
 
 Core One Labs also claims it has discovered a patentable method of producing high-quality psilocybin, which it may license to pharmaceutical companies. Additionally, the company has two psychedelic clinics in Vancouver that currently support clinical trials and maintain a database of more than 275,000 patients. The company acquired Vocan Biotechnologies and Akome Biotech in May 2021 for undisclosed amounts. Akome is developing a patent-pending psychedelic drug formulation for the treatment of Alzheimer&rsquo;s Disease.&nbsp;
 
 
 Core One Labs is listed on the Canadian Securities Exchange (CSE) and OTC markets.
 
 
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Core One Labs

<div>
 
 Vancouver-based Lobe Sciences (formerly GreenStar Biosciences) is a biotechnology company developing psychedelic medicines (microdose applications) and medical devices for efficient drug delivery. The company&rsquo;s main focus is the treatment of mild traumatic brain injury and post-traumatic stress disorder (PTSD). It is also conducting early studies on psilocybin combined with N-acetylcysteine (NAC), and MDMA combined with NAC as a treatment. Lobe is also developing a patent pending nasal mist transducer device for the delivery of medicines directly to the brain&rsquo;s olfactory bulb.&nbsp;
 
 
 In June 2020, Lobe acquired Eleusian Biosciences, a company focused on the development of psychedelic medicine which expanded its intellectual property portfolio with three US patent applications for psychedelic therapeutics. Lobe is also collaborating with the University of Miami&rsquo;s Miller School of Medicine to conduct preclinical studies. After its restructuring and name change, the company started trading on the Canadian Securities Exchange (CSE) in November 2020.
 
 
 
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Lobe Sciences

<div>
 
 Cybin is a psychedelic biotechnology company developing treatments for psychiatric and neurological conditions. Through its Serenity Life Science division, Cybin conducted Phase II of clinical trials on using psilocybin to treat major depressive disorder. Additionally, the company's Nature's Journey division focuses on creating non-psychedelic medicinal and nutraceutical mental health products.
 
 
 Cybin is actively building a patent portfolio, including chemically-synthesized compounds, delivery mechanisms, protocols, and new drug formulations. It has also filed an International Patent Application through the Patent Cooperation Treaty, potentially covering 153 countries.&nbsp;
 
 
 In July 2023, the company announced 
 <a href="https://sp-edge.com/updates/20076">
 EMBARKCT, 
 </a>
 a streamlined version of its EMBARK training program for pivotal studies of lead candidates, CYB003 for major depressive disorder and CYB004 for generalized anxiety disorder, respectively. In 
 <a href="https://sp-edge.com/updates/27577">
 March 2024
 </a>
 , the company received a breakthrough designation from the FDA for CYB003, and expects to initiate Phase III clinical trials for the program by mid-2024.
 
 
 Cybin implements an M&amp;A strategy to grow in the psychedelic industry. It did a reverse takeover of Charmin in June 2020, raising CAD 45 million (USD 35.5 million) for clinical studies. It acquired Adelia Therapeutics in December 2020, adding novel treatments and patent applications. Also in 
 <a href="https://sp-edge.com/updates/21335">
 August 2023 
 </a>
 it acquired 
 <a href="https://sp-edge.com/companies/470858">
 Small Pharma 
 </a>
 in an all-share transaction to strengthen its psychedelic portfolio.&nbsp;
 
 
 Founded in 2019, Cybin is listed on the NEO exchange under the ticker symbol &ldquo;CYBN&rdquo; and was uplisted to the NYSE American Stock Exchange in July 2021 under the same symbol. For FY2023, the company reported a decrease in net loss by 29.7% YoY to CAD 47.5 million (USD 35 million).&nbsp;
 Further in 
 <a href="https://sp-edge.com/updates/33849">
 September 2024
 </a>
 , it completed a 38-to-1 share consolidation of its common stock which reduced the number of outstanding common shares to ~20 million. 
 
 
 Key customers and partnerships&nbsp;
 
 
 In July 2020, Cybin expanded its operations and research activities in the European region via research partnerships and transferred its intellectual property assets to its fully-owned Irish subsidiary (formed in May 2021). In July 2023, the company partnered with 
 <a href="https://sp-edge.com/updates/20455">
 Worldwide Clinical Trials
 </a>
 to develop new psychedelic-based treatment options for mental health conditions, including major depressive disorder. Further, in September 2023, the company partnered with 
 <a href="https://sp-edge.com/updates/22180">
 Fluence
 </a>
 to support Cybin's EMBARK facilitator training program.
 
</div>

Cybin

<div>
 
 Canadian cannabinoid-based therapeutics company BioNxt Solutions
 (formerly Xphyto Therapeutics) announced in November 2020 that it has expanded its drug development program to incorporate a number of psychedelic compounds. This includes substances such as psilocybin, mescaline, LSD, MDMA, and DMT. Xphyto&rsquo;s initial focus is on developing standardized drug formulations with efficient delivery mechanisms for therapeutic use.
 
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BioNxt Solutions

<div>
 
 New York-based Gilgamesh Pharmaceuticals is a biotechnology company developing psychedelic-inspired medicines for neuropsychiatric conditions such as depression, anxiety, addiction, and cognitive deficits. The company has three research programs in its pipeline: 1) Serotonergic Micro-Dose&ndash;a non psychedelic therapeutic treatment for attention deficit hyperactivity disorder (ADHD) and mood/anxiety disorders, 2) Arylcyclohexylamine&ndash;an improved molecule of ketamine for treatment-resistant depression and opiate use disorder, and 3) Novel Ibogaine Analogue&ndash;for the treatment of substance use disorders.&nbsp;
 
 
 Gilgamesh is one of the few psychedelic companies launched by the startup accelerator Y Combinator, and as such enjoys the accelerator&rsquo;s world-famous business expertise and network.
 
 
 Key customers and partnerships
 
 
 In 
 <a href="https://sp-edge.com/updates/29382">
 May 2024
 </a>
 , the company partnered with AbbVie to leverage AbbVie's psychiatric expertise and Gilgamesh's research platform to create novel &quot;neuroplastogens.&quot; 
 
 
 Funding and Financials
 
 
 In 
 <a href="https://sp-edge.com/updates/27575">
 March 2024
 </a>
 , the company received a grant of&nbsp; USD 14 million from the National Institute on Drug Abuse to develop the GM-3009 compound. Prior to this, it raised USD 39 million in a 
 <a href="https://sp-edge.com/updates/15359">
 Series B 
 </a>
 funding round led by Prime Movers Lab in December 2022. 
 
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Gilgamesh Pharmaceuticals

Companies conducting research on psychedelic compounds and developing novel therapeutics.

Companies operating digital platforms to deliver psychedelic therapies including psychedelic integration, virtual experiences, and mental coaching and tracking. AI drug discovery companies specializing in psychedelic therapeutics are also included.

Companies operating clinics and treatment centers to deliver psychedelic therapies.

Companies supplying psychedelic compounds through cultivation, chemical synthesis and biosynthesis for medical research and drug development.

Companies building a patent portfolio of novel analogs and derivatives of first-generation psychedelics and new drug delivery mechanisms. 

ANALYST_QUICK_TAKE

DISRUPTOR_PRESENT

<div>
 <ul>
 <li>PharmaDrug, a Toronto-based specialty pharmaceutical company, is acquiring SecureDose Synthetics, a synthetic formulation company, in an all-share transaction to enhance its R&amp;D capabilities. Upon completion of the acquisition, SecureDose will be a wholly-owned subsidiary of PharmaDrug. The deal is expected to close in early November 2023, pending board and regulatory approvals.</li>
 <li>According to the agreement, each SecureDose share will be exchanged for one PharmaDrug share. Holders of SecureDose securities will also have the opportunity to acquire PharmaDrug shares at a price of USD 0.10 before September 22, 2025, through SecureDose warrants and finder warrants. The current holders will collectively own around 38% of PharmaDrug (or 43% with warrant conversion), with no change in control of PharmaDrug.</li>
 </ul>
</div> Analyst QuickTake: As M&amp;As in the psychedelic industry persist, this would be PharmaDrug’s third acquisition. It acquired <a href="https://www.newsfilecorp.com/release/57885/Pharmadrug-Inc.-Completes-Acquisition-of-Super-Smart-with-a-New-Added-Focus-on-the-Psychedelic-Market"> Super Smart </a> , which focuses on the development of psychedelic compounds in June 2020, and <a href="https://www.biospace.com/article/pharmadrug-completes-acquisition-of-sairiyo-therapeutics-inc-/"> Sairiyo Therapeutics </a> , which focuses on developing novel treatments for neurological disorders in February 2021. The acquisition of SecureDose will complement PharmaDrug's growth strategy to advance its product pipeline by adding the capability to develop its own formulations, potentially leading to shorter time frames for commercialization and revenue opportunities.

PharmaDrug

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