DMT is a drug that has been around since 1931. This extensive history of DMT has made it one of the most well-known psychedelic drugs across the globe, and numerous research studies have begun to show its promise outside of it being used as a party drug. When dosed in smaller amounts, it has been shown to greatly improve brain health and fight against things such as depression. $AGN.C is a company aiming to help bring DMT for depression to market as they’ve recently announced a phase 2 agreement with Yale University. They’ll investigate the effects of multiple intravenous doses of DMT for the treatment of depression.
- $AGN.C will provide the cGMP DMT for the study. In return, $AGN.C will jointly own IP around the clinical use of DMT arising from the study developed jointly by the two parties and the option to negotiate licenses to both IP developed jointly and IP developed solely by Yale.
- $AGN.C will also receive data from the study, which may assist in its DMT stroke research program and will help them create a relationship with one of the most prestigious institutions on the globe.
- They’re also the lead sponsor of Wonderland, the world’s largest conference on psychedelic medicine, to be held November 3-5 in Miami to further cement the numerous benefits of psychedelics.
https://ca.finance.yahoo.com/news/algernon-pharmaceuticals-enters-clinical-trial-110000717.html
With $AGN.C continuing their push toward clinical trials with existing drugs for novel uses, there could be a lot of upside potential for the company here, considering their already completed trials/IP value. The current $6.9M valuation is definitely something to keep an eye on.