In an interview earlier this week, The Dales Report sat down with Daniel Cohen, CEO of Pharmadrug Inc. (CSNX: BUZZ) (OTCMKTS: LMLLF) to learn more about the company’s latest efforts. Pharmadrug is currently working on developing research around DMT with the help of Steven Barker, a leading academic in the space of DMT research who was recently brought on as an advisor.
“We also announced that we filed for orphan drug status with the FDA for two specific designations, one of them being early onset stroke, and the other being kidney transplants,” Cohen said.
“There’s definitely some research there that shows that there is potential [in these areas]… what we’re doing is we’re just staking claims. The proper route for DMT is to take the long road.”
That starts with foundational research and truly understanding how DMT works and what its potential is, he says. Only then will the company choose an indication or specific illness to pursue in research.
Pharmadrug will be working with the University of Michigan on the research, led by principal investigator Dr. Jimo Borjigin, the researcher responsible for the groundbreaking work that showed that DMT is produced in the brain’s pineal gland, according to Cohen.
With the help of PharmaDrug, she’ll move onto the next logical step in DMT research: preclinical work. Cohen added that in addition to the preclinical work, the company is seeking out collaborators for a future clinical study “to help us understand how DMT works.” It’s also working on developing its commercial strategy in relation to psychedelics.
“At the end of the day, DMT is a psychedelic substance just like LSD or psilocybin,” Cohen said. “What makes it different from them… DMT is actually present in the body. It’s produced in the brain and it has a specific function.”
We still don’t fully understand why it is produced or what it’s job is in the body, which is why Pharmadrug is intent on digging into the biochemistry of DMT.
PharmaDrug is not the only company looking at DMT: an increasing number of firms in the space are taking note and looking into research.
“As a company, our philosophy is to focus more on rare diseases,” he said. “Many companies are casting a wide net in the research to try and understand where they want to really focus… I hear more and more people being interested in DMT and I actually think it’s a positive.”
PharmaDrug also has operations in Germany, where the company is a scheduling narcotics distributor focused on medical cannabis. Cohen anticipates its first products will be sold in the country in May. It also recently signed a supply agreement with a Canadian LP, though Cohen didn’t mention which one.
In Germany, Cohen said the company is most excited about releasing products under its own brand, and also intends to sell directly to wholesalers.
“It’s a two-pronged strategy there. We’re in the final stages of pinning down what products we’re going to have for the second half of the year,” he said. Products under Pharmadrug’s brand will include oils and dried flower.
To find out more about PharmaDrug’s plans in Germany and hear about its recent acquisition of Sairiyo Therapeutics, watch the full interview.