Algernon Pharmaceuticals Inc. (AGN) has signed an agreement with Charles River Laboratories for preclinical studies for its stroke clinical research program.
Algernon’s preclinical study of DMT will be conducted at the Charles River research facility in Finland.
Charles River Laboratories, Inc. is an American corporation specializing in a variety of preclinical and clinical laboratory services for the pharmaceutical, medical device and biotechnology industries.
It also supplies assorted biomedical products and research and development outsourcing services for use in the pharmaceutical industry.
Algernon recently established a clinical research program for the treatment of stroke focused on DMT, a known psychedelic compound that is part of the tryptamine family.
Algernon plans to be the first company globally to pursue DMT for stroke in humans and is planning to begin a clinical trial as soon as possible in 2021.
Algernon's decision to investigate DMT, called “The Spirit Molecule,” and move it into human trials for stroke, is based on multiple independent, positive preclinical studies.
DMT helps promote neurogenesis as well as structural and functional neural plasticity. These are key factors involved in the brain’s ability to form and reorganize synaptic connections, which are needed for healing following a brain injury.
“The company is very pleased to have retained Charles River Labs, a trusted vendor that we have worked with before on other research projects,” said Christopher J. Moreau, CEO of Algernon Pharmaceuticals.
“They have all of the necessary permits and licenses to handle DMT which will allow us to move quickly with our research program. They are a recognized world leader for pre-clinical neurological studies,” added Moreau.
DMT, is a hallucinogenic tryptamine drug-producing with 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 traditional spiritual medicine by indigenous people in the Amazonian basin.
DMT can also be synthesized in a laboratory.
DMT has been named the “Spirit Molecule” by Dr. Rick Strassman, an American clinical associate professor of psychiatry and DMT research pioneer, and Algernon consultant.
Data from a study published in Experimental Neurology, in May 2020 showed that in a rat model of cerebral ischemia-reperfusion injury, DMT reduced the infarct (dead cells) volume and improved functional recovery.
Algernon is a drug re-purposing company that investigates safe, already approved drugs. It specifically investigates compounds that have never been approved in the U.S. or Europe to avoid off label prescription writing.
Algernon (AGN) is up 13.21 per cent and is trading at C$0.30 at 12:56 pm EST.