PHARMADRUG
APPOINTS
WORLD-RENOWNED
DMT
EXPERT DR.
STEVEN A.
BARKER
TO
ITS
SCIENTIFIC
ADVISORY BOARD FOR
PSYCHEDELIC
PHARMACEUTICALS
Toronto, Ontario
-- February 8, 2021 --
InvestorsHub NewsWire -- PharmaDrug Inc. (CSE:
BUZZ) (OTC: LMLLF) ("PharmaDrug"
or the "Company"),
a specialty pharmaceutical company focused on the
research,
development and
commercialization of controlled-substances and natural medicines
such as
psychedelics, cannabis and
naturally-derived approved drugs, is pleased to announce that is
has appointed world-renowned chemist and neuroscientist
Dr. Steven A.
Barker,
Ph.D. to the Company's newly-formed
scientific advisory board for psychedelic
pharmaceuticals to lead the research and development
initiatives
of
N,N-Dimethyltryptamine
("DMT") for mental
health, neurological
and
inflammatory disorders.
Dr. Steven Barker, Ph.D. has been actively involved in the research
of psychedelics with a primary focus on DMT since 1976.
Dr. Barker,
who appeared
in
the 2010 documentary "DMT: The Spirit Molecule," which was hosted
by actor and commentator Joe Rogan, is Professor
Emeritus
at Louisiana State University in
the
Department of Comparative Biomedical Sciences at the
School of Veterinary Medicine. He
held the Everett D.
Besch
Distinguished Professor award between 2000 and 2006
for his
research
into
the Neurochemistry of hallucinogens,
which he continues today in collaboration with academic research
institutions.
"I am very excited
to join PharmaDrug to lead their research initiatives in unlocking
the potential of DMT as a pharmaceutical for various mental
health, neurological
and
inflammatory disorders," said Dr. Steven A.
Barker, Ph.D. "I have been involved in the research with DMT
for over 40 years and my belief in DMT's potential still holds to
this day and even after retirement from LSU I continue to be
involved in both the mechanistic and clinical research of DMT with
leading academic research institutions across the
world."
"We are honoured to
have Dr. Barker join our scientific advisory board and lead our
psychedelic pharmaceuticals
program with a
focus on DMT," said Daniel Cohen, CEO of PharmaDrug. "We are
quickly laying the groundwork in building a foundation that will
enable us to focus our research efforts with DMT and partnering
with leading research institutions to achieve our objectives in
advancing the clinical development of DMT as a pharmaceutical for
unmet medical needs."
DMT
(N,N-Dimethyltryptamine), also
referred to as the "spirit molecule" due to the intense psychedelic
experience similar to lysergic acid
diethylamide ("LSD") or psilocybin, is a hallucinogenic
tryptamine drug that occurs naturally in plants and animals.
In scientific
studies at lower doses DMT was shown to have mood-elevating and
calming properties and it now being evaluated to treat depression
and other neuropsychiatric disorders.
The
Company's
psychedelic pharmaceutical strategy will focus on DMT by expanding
its product pipeline through pre-clinical and
clinical research and licensing,
forming
research
collaborations
with
academic
institutions and industry, broadening its intellectual
property portfolio with unique formulations, novel uses and
delivery systems, and adding medical and clinical experts to its
scientific advisory board.
About
PharmaDrug Inc.
PharmaDrug is a
specialty pharmaceutical company focused on the research,
development and commercialization of controlled-substances and
natural medicines such as psychedelics, cannabis and
naturally-derived approved drugs. The Company owns 80%
of Pharmadrug Production GmbH, a German
medical cannabis distributor, with a Schedule I European Union
narcotics license and German EuGMP certification allowing for the
importation and distribution of medical cannabis to pharmacies in
Germany and throughout the EU. The Company also owns 100% of Super
Smart, a Dutch company building a modern adult use psychedelic
retail business with an elevated and educational focus. PharmaDrug
recently acquired Sairiyo Therapeutics, a biotech company that
specializes in researching and reformulating established natural
medicines with a goal of bringing them through regulatory and
research driven clinical trials.
For further information, please
contact:
Daniel Cohen, Chairman and
CEO
dcohen@pharmadrug.co
(647) 202-1824
Caution Regarding
Forward-Looking Information:
THE CANADIAN SECURITIES
EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
This press
release contains "forward-looking information" within the meaning
of applicable securities legislation. All statements, other than
statements of historical fact, included herein is forward-looking
information. Generally, forward-looking information may be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "proposed", "is expected",
"budgets", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases, or by the use of words or
phrases which state that certain actions, events or results may,
could, would, or might occur or be achieved. In particular, this
press release contains forward-looking information in relation
to:
advancing
the clinical development of Cepharanthine;
advancing
into FDA clinical trials for
esophageal cancer; finding other
avenues for Cepharanthine's
diverse
opportunities; developing
a
strategy to commence unique and value adding research in the
psychedelic space. This
forward-looking information reflects the Company's current beliefs
and is based on information currently available to the Company and
on assumptions the Company believes are reasonable. These
assumptions include,
but are not
limited to the ability
of the Company to successfully execute on its
plans for the
Company and Sairiyo; and the
Company's continued response and ability to navigate the COVID-19
pandemic being consistent with, or better than, its ability and
response to date.
Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information. Such risks and other factors may
include, but are not limited to: general business, economic,
competitive, political and social uncertainties; general capital
market conditions and market prices for securities; the actual
results of the Company's future operations; competition; changes in
legislation affecting the Company; the ability
to obtain and maintain required permits and approvals,
the timing
and availability of external financing on acceptable terms; lack of
qualified, skilled labour or loss of key individuals; risks related
to the COVID-19 pandemic including various recommendations, orders
and measures of governmental authorities to try to limit the
pandemic, including travel restrictions, border closures,
non-essential business closures, service disruptions, quarantines,
self-isolations, shelters-in-place and social distancing,
disruptions to markets, economic activity, financing, supply chains
and sales channels, and a deterioration of general economic
conditions including a possible national or global recession; and a
deterioration of financial markets that could limit the Company's
ability to obtain external financing.
A
description of additional risk factors that may cause actual
results to differ materially from forward-looking information can
be found in the Company's disclosure documents on the SEDAR website
at www.sedar.com. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on forward-looking information. Readers are
cautioned that the foregoing list of factors is not exhaustive.
Readers are further cautioned not to place undue reliance on
forward-looking information as there can be no assurance that the
plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those
anticipated.
The
Company's securities have not been registered under the U.S.
Securities Act of 1933, as amended (the "U.S. Securities Act"), or
applicable state securities laws, and may not be offered or sold
to, or for the account or benefit of, persons in the United States
or "U.S. Persons", as such term is defined in Regulations under the
U.S. Securities Act, absent registration or an applicable exemption
from such registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in the United States
or any jurisdiction in which such offer, solicitation or sale would
be unlawful.
Forward-looking
information contained in this press release is expressly qualified
by this cautionary statement. The forward-looking information
contained in this press release represents the expectations of the
Company as of the date of this press release and, accordingly, are
subject to change after such date. However, the Company expressly
disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as expressly
required by applicable securities law.
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