PharmaDrug (BUZZ) is hiring a world-renowned expert to help advise on its psychedelic pharmaceutical research.
Dr. Steven A. Barker is recognized authority on the subject of of N,N-Dimethyltryptamine (DMT).
Smith has been actively involved in the research of psychedelics with a primary focus on DMT since 1976 and is currently a professor emeritus at Louisiana State University in the Department of Comparative Biomedical Sciences.
He'll assist PharmaDrug with its DMT research for mental health, neurological and inflammatory disorders.
The company's focus is on research, development and commercialization of controlled-substances and natural medicines like psychedelics, cannabis and naturally-derived approved drugs.
Barker has been recognized 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 Barker.
"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."
DMT is sometimes referred to as the "spirit molecule" because of the intensity of psychedelic experience it produces, which is said to be similar to lysergic acid diethylamide ("LSD") or psilocybin.
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.
PharmaDrug's psychedelic pharmaceutical strategy will focus on DMT by expanding its product pipeline through pre-clinical and clinical research and licensing.
The company will also continue 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.
Shares of PharmaDrug are up 10.53 per cent on the day, and are trading at C$0.10 at 11:47 a.m. EST.