Small Pharma CEO On Innovative Passport Designation, Patents & More As Psychedelic Stock Surges
In what is another giant step forward for the psychedelic therapeutics community, the UK-based neuropharmaceutical brand Small Pharma (CVE: DMT)(OTCMKTS: DMTTF) has just received a European patent grant for one of it’s leading candidate drugs.
SPL801B is a ketamine-based drug currently in preclinical stages, and the patent intends to offer protection for the oral administration of the 2R,6R-hydroxynorketamine (“6-HNK”) compound for treating depression.
This announcement proved to be particularly profitable for those investing in the psychedelic brand, as Small Pharma stock prices surged more than 70%. This boost in the psychedelic stock was in response to Small Pharma receiving an Innovation Passport designation for SPL026, the groups leading DMT-based candidate.
Peter Rands, Small Pharma CEO joins The Dales Report once again to this promising development and to further discuss all of the exciting drug candidates currently in their pipeline.
Rands elaborated on the importance of the Innovation Passport and what it could mean for Small Pharma.
“The designation is a new initiative by the MHRA to help fast track innovative new medicines. There aren’t many that have been issued yet. I think we were the first company to receive one in mental health.
“So what it really seeks to do is align the key stakeholders in the development of medicine. So that would be the MHRA, NICE, the EMA, and various regulatory bodies who oversee the development of medicines. Particularly this helps us work out patient access and the best and swift ways to get this into the market once we’ve got efficacy.”
Rands goes on to explain that the innovation passport most closely resembles the ‘Fast Track’ designation granted by the FDA.
The conversation turns to the patent recently granted to their leading DMT candidate SPL026.
“We spent several years learning about depression, starting from 2006, through to 2018 19, and 2019, we manufactured our first pre GMP batch of DMC and that was sure that the ways that we handled the drug were of high, high enough quality for the production of the medicine, that went really well.”
“In 2020, we submitted the clinical trial application to conduct a phase one trial, which was completed last month. That leads straight into this patient study, which started last week, and by the end of this week, the first patient will have had their first follow up, and that in itself is a key milestone. And we’re now moving through to the anticipated end dates for this study in the first half of next year.”
As the recent success makes evident, Small Pharma stands at the front of the line when it comes to European companies advancing the use of psychedelics in therapeutics, and this interview with the man leading the charge offers a firsthand perspective into the past, present and future into the space.