In a news release, Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGW:FSE) announced that it has "signed an agreement with Charles River Laboratories International Inc. (CRL:NYSE) for preclinical studies of AP-188 (N,N-Dimethyltryptamine or DMT) for the company's stroke clinical research program." Algernon Pharmaceuticals advised that its DMT preclinical study will be carried out at the Charles River research facility in Finland.
The company indicated that Charles River Labs is headquartered in the U.S. and provides preclinical and clinical laboratory services to firms in the biotechnology, medical device and pharmaceutical industries. The firm noted that Charles River is also a biomedical products supplier and outsources research and development services to pharmaceutical companies.
Algernon pointed out that it recently established a clinical research program focused on stroke treatment utilizing a known psychedelic compound called DMT, which it stated is part of the tryptamine family. The firm noted that it is planning to commence a clinical trial in 2021 and said its goal is to become the first company in the world to pursue DMT for stroke in humans.
The firm commented that DMT is referred to as "The Spirit Molecule" and explained that its objective of moving forward quickly into human trials for stroke is supported by several independent preclinical studies showing that DMT aids in promoting neurogenesis and structural and functional neural plasticity. The company asserted that "these are key factors involved in the brain's ability to form and reorganize synaptic connections, which are needed for healing following a brain injury."
Algernon emphasized that its planned research studies will focus only on a sub-hallucinogenic microdose of DMT delivered via continuous intravenous administration. The firm stated that this mechanism of continuous active delivery of a microdosage of DMT will offer patients therapeutic benefits without experiencing a psychedelic event. The company believes this is paramount when treating a patient who has just suffered a stroke to avoid unnecessary confusion and stress resulting from a hallucinogenic response.
Algernon Pharmaceuticals' CEO Christopher J. Moreau remarked, "The Company is very pleased to have retained Charles River Labs, a trusted vendor that we have worked with before on other research projects...They have all of the necessary permits and licenses to handle DMT which will allow us to move quickly with our research program. They are a recognized world leader for pre-clinical neurological studies."
The company explained that DMT occurs naturally in many plant species and animals, but can also be synthesized in a laboratory. The firm detailed that "DMT is a hallucinogenic tryptamine drug producing effects similar to those of other psychedelics like LSD, ketamine, psilocybin and psilocin." Algernon added that in high doses "DMT binds to serotonin receptors to produce euphoria and psychedelic effects."
Read what other experts are saying about:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Algernon Pharmaceuticals. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Algernon Pharmaceuticals, a company mentioned in this article.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.