Algernon Pharmaceuticals contracts Hammersmith Medicines Research for Phase 1 DMT stroke study; adds to leadership

Algernon Pharmaceuticals Inc (CSE:AGN) (OTCQB:AGNPF) (FRA:AGW) said its Phase 1 study on the psychedelic compound DMT to treat stroke will be carried out by London-based contract research organization (CRO) Hammersmith Medicines Research (HMR).  Since 1993, HMR has carried out more than 850 studies and worked for most of the world’s major pharma and biotechs. It boasts an on-site laboratory, pharmacy and close clinical ties to Central Middlesex Hospital.  READ: Algernon Pharmaceuticals selects Dalton Pharma Services to synthesize DMT for its stroke studies "We are very pleased to have chosen HMR for our Phase 1 DMT study,” said Christopher J. Moreau, the CEO of Algernon Pharmaceuticals. "There are very few research institutions globally who are fully approved and have the proper license, permits and experience to handle DMT. Our goal with our current aggressive clinical plan is to be in a Phase 2 Study in Q1 of 2022. "We are committed as a company to investigating DMT to learn if it can help stroke patients as quickly, and as safely, as possible.” Algernon has previously said it will focus on a sub-hallucinogenic, or microdose of DMT given via continuous intravenous administration -  the aim being the patient will not have a psychedelic experience, which may allow for a quicker pathway to regulatory approval, including a Breakthrough Therapy designation from the US FDA. This Phase 1 study is anticipated to begin as soon as the company has cGMP drug product from its recently appointed manufacturer Dalton Pharma and will evaluate the safety, tolerability and pharmacokinetics of the proposed sub-psychedelic DMT dosages in healthy participants with no prior history of psychedelic exposure. It will provide essential data on the proposed dosing regimen, and also inform the design of the planned Phase 2 trials. In a separate statement on Monday, the drug repurposing group, also revealed it had boosted its leadership with the appointment of Dr Christopher Bryan as vice-president, research and operations and Dr Ahmad Khalil as its chief medical officer. Dr Mark Williams, a co-founder of Algernon, will be stepping down from the role of chief science officer as of March 1, this year to take on the role of President/CSO of a new company, it added. Dr Bryan joined the company full-time last year and has been managing its contract research providers and clinical trials, as well as all of its vendor relationships. He has also been managing the intellectual property (IP) suite. Dr Khalil has extensive biopharmaceutical experience bringing drugs into clinical trials over the past 20 years, acting in the capacities of Medical Director, Medical Monitor, and Clinical Consultant for a variety of companies. Contact the author at giles@proactiveinvestors.com