Champignon selects Dalriada Drug Discovery to advance its new chemical entity IP portfolio

Champignon Brands Inc (CSE:SHRM) (OTCQB:SHRMF), a wellness company focused on areas of psychedelic medicine, said Monday that it has selected Toronto-based Dalriada Drug Discovery Inc to advance its new chemical entity (NCE) IP portfolio as it applies to ketamine and psilocybin/psilicin molecular scaffolds. Vancouver-based Champignon said Dalriada, a top contract research organization (CRO), will lead Champignon’s new drug discovery programs in the NCE area and provide “integrated R&D support” to accelerate the company’s existing preclinical assets and ongoing development of proprietary delivery platforms. The company expects the partnership to result in a "robust pipeline of preclinical and clinical assets" with strong IP protection. READ: Champignon Brands adds workplace mental health expert Dr Bill Wilkerson to its board of directors “It is with great pleasure that we welcome the Dalriada group to Champignon. 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,” Dr Joseph Gabriele, special advisor with Champignon Brands said in a statement. “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 NCEs.” Meanwhile, Champignon Brands CEO Roger McIntyre pointed out that the company 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,” said Dr McIntyre. “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.” Dalriada, through its TURN-KEY drug discovery services model, provides a suite of drug discovery, medicinal chemistry and intellectual property services for lean biotechnology clients who focus on developing small molecule therapies. With R&D operations in Mississauga, Canada, Dalriada builds focused teams with expertise in medchem and biology to allow for rapid and cost-effective project execution. “We are excited to support Champignon’s innovative work in advancing the therapeutic applications of ketamine and psilocybin derivatives,” said Dalriada Drug Discovery CEO Dr Diana Kraskouskaya. “Champignon’s pioneering approach to the use of these agents for the treatment of depression and other indications with high unmet need holds a lot of promise. We are delighted to complement their strong scientific and management team with our expertise in small molecule drug discovery, and help Champignon expand their current asset portfolio” she added. Champignon is developing rapid onset treatments capable of improving health outcomes, such as depression and post-traumatic stress disorder (PTSD), as well as substance and alcohol use disorders. Contact the author Uttara Choudhury at uttara@proactiveinvestors.com Follow her on Twitter: @UttaraProactive