Algernon Pharmaceuticals Inc. Archives - Green Market Report

Debra BorchardtJune 5, 2023


Algernon Pharmaceuticals Inc. (CSE: AGN) (OTCQB: AGNPF)announced that its subsidiary Algernon NeuroScience (AGN Neuro), has successfully completed dosing of the third and planned final cohort in its escalating dose Phase 1 clinical study of an intravenous (IV) formulation of AP-188 (DMT). AGN Neuro is the world’s first company to investigate DMT for both the treatment of stroke and traumatic brain injury (TBI).

In pre-clinical studies, DMT has been demonstrated to increase brain derived neurotropic factor (BDNF) which is believed to be a key mechanism involved in healing the brain after an injury. According to the company’s statement, DMT is believed to activate pathways involved in forming neuronal connections and has been shown to increase the number of dendritic spines on cortical neurons. Dendritic spines form synapses (connections) with other neurons and are a critical site of molecular activity in the brain.

“Neuroplasticity’s role in healing the brain after an injury is one of the most exciting areas of research going on globally in the pursuit of a treatment for stroke and TBI, and AGN Neuro is at the forefront of this work,” said Christopher J. Moreau, CEO of Algernon Pharmaceuticals. “Now that we have established the safety of a single sub psychedelic dose of DMT, we are planning to accelerate our DMT Phase 2 studies accordingly, for both stroke and TBI.”

AGN Neuro also reported that the safety review committee has confirmed that there were no safety or tolerability issues with the highest dose, which was able to maintain plasma DMT concentrations at targeted levels and which was below the established psychedelic dose.  AGN Neuro is the first company to test DMT at single escalating concentrations with an IV dose for a 6-hour duration.

The single escalating dose Phase 1 trial was conducted at the Centre for Human Drug Research in Leiden, Netherlands. The purpose of the study was to identify the safety, tolerability, and pharmacokinetics of sub-psychedelic doses of DMT when administered as an intravenous bolus followed by a prolonged infusion of 6 hours, a period which has never been studied clinically. In addition, several pharmacodynamic measures believed to be associated with neuroplasticity, including both measurements of biochemical markers and electroencephalographic readings, were recorded. AGN Neuro plans to publish the data from the study in an upcoming issue of a peer reviewed, scientific publication.

Based on the success of the highest tested dose, the second part of the study, which will be scheduled to begin at a later time, will include dosing subjects for 6 hours with repeated administrations over a two-week period. AGN Neuro has now established a single dose regimen which can now be used in its first Phase 2 study for stroke and TBI.


StaffJanuary 11, 2023


The Daily Hit is a recap of cannabis business news for Jan. 11, 2023.


Connecticut Recreational Cannabis Sales Top $250,000 on Day One

According to Biotrack, the cannabis technology platform Connecticut uses to trace marijuana inventory from seed to sale, those seven retailers passed the $250,000 mark by 5 p.m. after just seven hours of sales, bringing crows of victory from state regulators. Read more here.

More from Connecticut’s Adult-Use Cannabis Launch:

Algernon Pharmaceuticals Looks to Advance DMT Stroke Research

Treating stroke with DMT (N, N-Dimethyltryptamine) is a novel idea being pursued by Algernon Pharmaceuticals (CSE: AGN) (FRANKFURT: AGWO) (OTCQB: AGNPF), a Vancouver-based clinical stage drug development company. The opportunity is big, with the global stroke treatment market is expected to reach $15 billion by 2027. Read more here.

REITs on the Downslope?

The REIT trend appears to be cooling down, according to data from Cannabiz Media. In the third quarter of last year, just four deals were solidified for a total value of $90 million, down from a high of nine deals worth $305 million in the fourth quarter of 2019. Read more here.


Kaya Group

Kaya Group (OTC: NUGL) announced its Kaya Extracts subsidiary plans to enter the legal psilocybin market in Jamaica where the laws are relaxed, targeting the multibillion-dollar industry for the development, marketing, and distribution of psilocybin mushrooms. Read more here.

Grown Rogue International

Grown Rogue International Inc. (CSE: GRIN) (OTC: GRUSF), a craft cannabis company operating in Oregon and Michigan, issued a total of 200,000 common shares, at the current market price, to an owner of Golden Harvests LLC. The common shares were issued pursuant to an option agreement relating to the prior acquisition of a 60% controlling interest in Golden Harvests by Canopy Management LLC in May 2021. Read more here.


In a Monday bid to dismiss claims that they misclassified drivers as independent contractors in violation of the Fair Labor Standards Act and the Pennsylvania Minimum Wage Act, FarmaceuticalRX and five other companies said that there was no indication that they operated jointly or that any of them employed their accusers. Read more here.

Adam JacksonOctober 24, 2022


Canadian clinical stage drug development company, Algernon Pharmaceuticals Inc. (CSE: AGN) (OTCQB: AGNPF), has entered a clinical trial agreement with Yale University to study DMT for the treatment of depression.

Algernon will provide DMT for the study in return for intellectual property rights with Yale around the clinical use of the drug. The company will also have the option to negotiate licenses to both IP developed jointly and IP developed solely by Yale — subject to rights reserved by the US government in conjunction with publicly funded research.

“The study may enhance our current understanding of the dosing regimen in the subjective effects induced by DMT,” said Deepak D’souza, the trial’s principal investigator and professor of psychiatry and director of Schizophrenia Neuropharmacology Research Group at the Yale University School of Medicine.

D’Souza is an experienced researcher with DMT and other controlled substances.

Algernon will also receive data from the study that it could use for its DMT stroke research program.

“After careful consideration, we chose to support Dr. D’Souza’s clinical DMT study and work with Yale University,” said Christopher Moreau, CEO of Algernon Pharmaceuticals. “Although the treatment of psychiatric disorders with DMT is not the company’s current focus, we have patents pending on novel forms of DMT which could potentially be used across a broad range of diseases. In addition, we believe the data generated from this study may help inform Algernon’s stroke research program.”

“A rising tide lifts all boats, and we feel a corporate responsibility as well to improve global awareness and support psychedelic medicine research when possible. It is in that spirit that we also chose to become the lead sponsor of Wonderland, the world’s largest conference on psychedelic medicine to be held November 3-5 in Miami.”

N, N-Dimethyltryptamine, or DMT, is a hallucinogenic tryptamine drug producing effects similar to those of other psychedelics like LSD and psilocybin. DMT occurs naturally in many plant species and animals including humans and has been used in religious ceremonies as traditional spiritual medicine by indigenous people in the Amazon. DMT can also be synthesized in a laboratory.

The “double-blind, placebo-controlled, crossover-controlled” study will compare different bolus and constant infusion dosing regimens of DMT in healthy control participants and individuals with depression.

Algernon has active research programs for idiopathic pulmonary fibrosis (IPF) with chronic cough, chronic kidney disease and a psychedelic program investigating a proprietary form of DMT for stroke.

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