Small Pharma Inc V.DMT

First Fiscal Quarter 2021 Highlights

[Betteryear2]

Successful completion of listing on TSX Venture Exchange

$58 million financing enables potential rapid advancement of Small Pharma’s patent portfolio

LONDON, United Kingdom, July 30, 2021 (GLOBE NEWSWIRE) -- Small Pharma Inc. (TSXV: DMT) (the “Company” or “Small Pharma”), a neuropharmaceutical company focused on psychedelic-assisted N,N-dimethyltryptamine (“DMT”) therapies, has today published its first quarter results for the three months ended May 31, 2021. A full copy of the results can be found under the Company’s profile on SEDAR at www.sedar.com. Unless otherwise indicated, all currency references are to Canadian dollars.

Operational Highlights (including post-period events):

• Strong progress in Phase I/IIa clinical trial for lead product, SPL026, DMT-assisted therapy for the treatment of depression
  • Completion of fourth cohort in the Phase I component of the study
  • Acceleration of Phase IIa with addition of second clinical trial site
  • Topline data readout of Phase IIa anticipated H1 2022
• Preparation underway for Phase IIb DMT-assisted therapy clinical trial, anticipated to commence in H2 2022
  • Launch of psychotherapy training program ahead of Phase II clinical trials
  • Positive discussions with UK Medicines and Healthcare products Regulatory Agency (“MHRA”) on Phase IIb clinical trial design
• Advancement of other pipeline candidates towards clinical studies including:
  • SPL028, prolonged duration DMT
    • Anticipate completion of pre-clinical studies by year end
    • Start of Phase I/IIa anticipated to commence H1 2022
• Grant of UK patent covering composition of matter protection on a range of novel tryptamines

https://www.globenewswire.com/news-release/2021/07/30/2272457/0/en/Small-Pharma-Reports-First-Fiscal-Quarter-2021-Highlights.html