• Champignon Brands (CSE:SHRM) has chosen Dalriada Drug Discovery to advance its portfolio for ketamine, psilocybin and psilicin formulations
  • Dalriada, a contract research organisation, will lead Champignon’s drug discovery programs in new chemical entities
  • Dalriada will also provide support to Champignon’s existing preclinical assets and development of delivery platforms
  • The company expects the collaboration to produce a robust pipeline of drug assets with protected intellectual property
  • Champignon Brands (SHRM) is up 7.96 per cent and is currently trading at C$1.22 per share

Champignon Brands (CSE:SHRM) has chosen Dalriada Drug Discovery to advance its portfolio for ketamine, psilocybin and psilicin formulations.

Dalriada, a contract research organisation, provides drug discovery, medicinal chemistry, and intellectual property services. The company will lead Champignon’s drug discovery programs in new chemical entities (NCE), pertaining to ketamine, psilocybin and psilicin molecular scaffolds.

Dalriada will also provide research and development support, to fast-track Champignon’s existing preclinical assets. In addition, this will accelerate the company’s ongoing delivery platform development.

Champignon expects that the collaboration will produce a robust pipeline of preclinical and clinical assets. The company believes that Dalriada’s involvement will deliver strong protection of Champignon’s intellectual property. 

Champignon’s Special Advisor, Dr Joseph Gabriele, welcomed the partnershup with Dalriada.

“Dalriada’s expertise in medicinal chemistry will be a monumental addition to Champignon’s innovative diverse formulation platforms, by their expertise in the synthesis of molecules, including existing psychedelics (ketamine, psilocybin and MDMA), as well as novel new psychedelic-like molecules. 

“This synergistic collaboration will differentiate Champignon from other companies in the psychedelic space, by boosting our ability to maintain an inhouse infrastructure for the clinical delivery NCE’s,” he said.

Champignon’s CEO, Dr Roger McIntyre, also commented on the development.

“Champignon has developed a comprehensive working arrangement with Dalriada focusing on R&D. Dalriada is aligned with Champignon with respect to quality, efficiency, and their results-oriented approach.

“We are highly confident that our partnership with Dalriada will provide a series of assets that will be available for our near-term, pre-clinical, Phase I and Phase II testing pursuits,” he said.

Champignon Brands is up 7.96 per cent and is trading at C$1.22 per share at 10:59am EDT.

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