- Entheon Biomedical (ENBI) announces DMT drug supply agreement with Ofichem Group
- The agreement entered into May 4, 2021, will see Ofichem provide GMP DMT product as well as the required analytical data package for use in the previously announced phase 1 human clinical trial
- The agreement is for an initial three-month term. Canna Cap will be compensated a monthly fee of USD $25,000.00 during the initial term
- Entheon is a biotechnology research and development company committed to developing and commercializing a portfolio of safe and effective N,N-dimethyltryptamine based psychedelic therapeutic products
- Entheon Biomedical Corp. (ENBI) is up 1.37 per cent and is trading at C$0.37 at 12:45 pm ET
Entheon Biomedical Corp. (ENBI) has entered into a drug-supply agreement with Laboratorium Ofichem BV.
Under the terms of the agreement, Ofichem will supply Entheon with GMP quality N,N-dimethyltryptamine drug substances for the upcoming formulation, preclinical, clinical, and post-approval commercialization phases under the European Medicines Agency regulatory framework.
The agreement entered into May 4, 2021, will see Ofichem provide GMP DMT product as well as the required analytical data package for use in the previously announced phase 1 human clinical trial to be conducted by the Centre for Human Drug Research.
Ofichem will also provide any additional DMT product that is required for an anticipated stability study. The phase 1 trial, to be conducted in the Netherlands, is scheduled to begin in Q4 2021.
“Ofichem’s significant experience in organic synthesis, analytical chemistry and drug development makes them an ideal European partner for this initiative,” said Timothy Ko, Chief Executive Officer of Entheon.
“We look forward to updating shareholders further as we advance through the preparation steps leading to the commencement of the clinical trial,” added Ko.
“Headquartered in Ter Apel, The Netherlands, the Ofichem Group is active in more than 60 countries and boasts a portfolio of 45 in-house made active pharmaceutical ingredients,” said Dr. Weite Oldenziel, CEO of Ofichem Group.
Entheon also announces that it has entered into a consulting agreement with Grant Galloway and Christopher Biggin dba Canna Cap Fund.
This is pursuant to which Canna Cap will provide investor communications and public relations services with existing shareholders, brokers, dealers and other investment professionals as to the Company’s current and proposed activities.
The agreement is for an initial three-month term. Canna Cap will be compensated a monthly fee of USD $25,000.00 during the initial term.
Entheon is a biotechnology research and development company committed to developing and commercializing a portfolio of safe and effective N,N-dimethyltryptamine based psychedelic therapeutic products for the purposes of treating addiction and substance use disorders.
Subject to obtaining all required regulatory approvals and permits, Entheon intends to generate revenue through the sale of its DMT Products to physicians, clinics and licensed psychiatrists in the United States, certain countries in the European Union and throughout Canada.
Entheon Biomedical Corp. (ENBI) is up 1.37 per cent and is trading at C$0.37 at 12:45 pm ET.