In a news release, Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGW:FSE) announced it "awarded the contract for its Phase 1 stroke program study of AP-188 (“N,N-Dimethyltryptamine or DMT”), to the renowned contract research organization ("CRO"), Hammersmith Medicines Research Ltd (“HMR”) located in London, UK."
Algernon noted that HMR is a contract research organization with extensive trial experience and experience administering psychedelic agents. Along with a pharmacy and onsite laboratory, it has close ties to Central Middlesex Hospital.
"We are very pleased to have chosen HMR for our Phase 1 DMT study," Algernon CEO Christopher J. Moreau said in the release. "There are very few research institutions globally who are fully approved and have the proper license, permits and experience to handle DMT."
Algernon's Phase 1 study will evaluate the safety, tolerability and pharmacokinetics of subpsychedelic DMT dosages in healthy participants who lack prior psychedelic exposure. The trial will commence once the company receives the drug from its manufacturer, Dalton Pharma.
"Our goal with our current aggressive clinical plan is to be in a Phase 2 study in Q1/22," Moreau added. "We are committed as a company to investigating DMT to learn if it can help stroke patients as quickly, and as safely, as possible."
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