PharmaTher

Toronto-based PharmaTher is a psychedelic pharmaceutical company engaged in developing therapeutics for central nervous system-related disorders and cancer. The company is currently researching ketamine, psilocybin, lysergic acid diethylamide (LSD), and other psychedelics for Parkinson’s disease, depression, Lou Gehrig’s disease, and several other afflictions. All of its programs are at preclinical stages of the drug development process except for the company’s ketamine-based products to treat Parkinson’s disease and depression, which are in Phases 1 and 2. 

PharmaTher is also engaged in developing and commercializing panaceAI, a drug repurposing platform powered by artificial intelligence (AI) which can be used to find effective uses for psychedelic compounds. The company expects its AI algorithms to be useful in developing therapies for rare disorders, and infectious diseases, among others. 

Key Customers and Partnerships

In November 2020, PharmaTher entered into a collaboration with Revive Therapeutics, another psychedelic-focused drug developer, to give access to panaceAI. Revive will leverage the AI platform to screen, identify, and evaluate psychedelic compounds, enabling faster drug discovery. In May 2021, the company collaborated with MediSynergics, a drug discovery company, to develop a patented ketamine formulation for pain disorders. In November 2022, the company also partnered with Case Western Reserve University to develop and commercialize the use of ketamine to treat patients with Rett Syndrome which is in Phase 2 of clinical trials. 

In February 2023, the company announced a further partnership with Revive Therapeutics , to study the delivery of 3,4-methylenedioxy​methamphetamine (MDMA) using PharmaTher’s microneedle patch technology as an alternative to existing oral treatments. 

In June 2023 , the company partnered with Vitruvias Therapeutics to commercialize KETARX (racemic ketamine) products in the US. The companies plan to file an abbreviated new drug application (ANDA) in July, with FDA approval expected in early 2024.

Funding and Financials

PharmaTher started trading on the Canadian Securities Exchange (CSE) in October 2020, and listed on the over-the-counter (OTCQB) markets in January 2021.