Algernon Pharmaceuticals to Conduct Phase 1 DMT Stroke Program Study with Hammersmith Medicines Research (UK)
VANCOUVER, British Columbia, March 01, 2021 (GLOBE NEWSWIRE) -- Algernon Pharmaceuticals Inc. (CSE: AGN) (FRANKFURT: AGW) (OTCQB: AGNPF) (the “Company” or “Algernon”) a clinical stage
pharmaceutical development company announces that it has 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.
HMR is an internationally respected and fully equipped CRO with an industry-leading pharmacy, an on-site laboratory, and close clinical ties to Central Middlesex Hospital. They also have direct experience with the administration of psychedelic agents. Since 1993, HMR has done more than 850 studies and has worked for most of the world’s major pharmaceutical and biotechnology companies.
Algernon's Phase 1 study will evaluate the safety, tolerability and pharmacokinetics of the Company’s proposed sub-psychedelic DMT dosages in healthy participants with no prior history of psychedelic exposure. The study, designed to establish pharmacological baselines, is anticipated to begin as soon as the Company has cGMP drug product from its recently appointed drug manufacturer Dalton Pharma. Although small clinical studies with DMT have been performed in the past, Algernon is planning to be the first Company globally to test the use of prolonged intravenous DMT infusion at sub-psychedelic doses in humans for potential stroke treatment applications. The Phase 1 study will provide essential data on the Company's proposed dosing regimen, and also inform the design of the Company's planned Phase 2 trials in stroke patients.
“We are very pleased to have chosen HMR for our Phase 1 DMT study,” said Christopher J. Moreau, CEO of Algernon Pharmaceuticals. “There are very few research institutions globally who are fully approved and have the proper license, permits and experience to handle DMT. Our goal with our current aggressive clinical plan is to be in a Phase 2 Study in Q1 of 2022. We are committed as a Company to investigating DMT to learn if it can help stroke patients as quickly, and as safely, as possible.”
N,N-Dimethyltryptamine, or DMT, is a hallucinogenic tryptamine drug producing effects similar to those of other psychedelics like LSD, ketamine, psilocybin and psilocin. DMT occurs naturally in many plant species and animals and has been used in religious ceremonies as a traditional spiritual medicine by indigenous people in the Amazonian basin. DMT can also be synthesised in a laboratory.