Algernon Pharmaceuticals Inc.
Source: Algernon Pharmaceuticals.
  • Algernon (AGN) is screening subjects for its Phase 1 clinical study of AP-188, N-Dimethyltryptamine (DMT, a hallucinogenic drug) in the Netherlands
  • The first part of the study will use a single-escalating intravenous dose to identify a tolerable level that won’t produce psychedelic effects, and the second part will test the effects of repeated dosages
  • Up to 60 people, both psychedelic experienced and psychedelic naïve enrolled in the study, which will be conducted at the Centre for Human Drug Research in Leiden
  • Algernon Pharmaceuticals Inc. (AGN) is down 2.71 per cent, trading at $2.87 per share as of 12:55 pm ET

Algernon (AGN) is screening subjects for its Phase 1 clinical study of AP-188, N-Dimethyltryptamine (DMT, a hallucinogenic drug) in the Netherlands.

The first part of the study will use a single-escalating intravenous dose to identify a tolerable level that won’t produce psychedelic effects. The second part will test the effects of repeated dosages.

Up to 60 people, both psychedelic experienced and psychedelic naïve enrolled in the study, which will be conducted at the Centre for Human Drug Research (CHDR) in Leiden.

The company plans to open enrollment shortly and dose the first subject of the study in December 2022.

Since the team has performed several Phase 1 studies on DMT in the past, they aren’t anticipating any serious adverse events or safety issues.

Following multiple independent, positive preclinical studies demonstrating that DMT, at a sub-psychedelic dose, helped promote structural and functional neuroplasticity, the company decided to investigate DMT and move it into human trials for stroke. 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.

Algernon’s CEO, Christopher J. Moreau, said, “the preclinical data shows that DMT promotes the production of brain-derived neurotrophic factor, which is an important part of the brain’s recovery process after an injury like a stroke.”

The resulting data generated will help the company to plan both its Phase 2 acute stroke and rehabilitation studies more effectively.

Algernon Pharmaceuticals is a Canadian clinical-stage drug development company investigating multiple drugs with global unmet medical needs.

Algernon Pharmaceuticals Inc. (AGN) is down 2.71 per cent, trading at $2.87 per share as of 12:55 pm ET.


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