PharmaDrug Strikes Deal With Johns Hopkins University For A Clinical Trial Into Psychedelic DMT

On Wednesday, PharmaDrug Inc. PHRX LMLLF, a company researching DMT and other psychedelics for medical purposes, announced a new clinical trial agreement with Johns Hopkins University, one of the leading research institutions in the space.

The research will encompass a clinical study comparing the psychological and neural effects of N,N-dimethyltryptamine (DMT) with an undisclosed comparator molecule–presumably psilocybin, based on the university’s research record into psychedelics.

The trial stands as part of PharmaDrug’s intention to become a leader in DMT-derived medicines. The company has already received an “orphan drug designation” by the FDA for DMT in the prevention of ischemia-reperfusion injury in patients undergoing solid organ transplantation.  

For its part, Johns Hopkins University is leveraging the booming “psychedelics rush” to advance research into the field. Last week, the university signed a five-year research agreement with  Mydecine Innovations Group MYCO MYCOF to study the application of psychedelics molecules and therapies in smoking cessation.

Terms Of The Deal: As per the agreement, PharmaDrug will gain an exclusive option to obtain worldwide, royalty-bearing commercialization licenses to all rights derived from the study’s results.

The research will take place in the university’s Center for Psychedelic and Consciousness Research at the faculty of psychiatry and behavioral sciences, and will be led by Dr. Frederick S. Barrett, with support from Dr. Sandeep Nayak and Dr. Roland Griffiths.

The researchers will use psychological assessment tools as well as MRI and EEG to characterize any acute and persisting subjective, affective, cognitive and neural dose-dependent effects for both drugs in human subjects.

Photo by Pete Godfrey on Unsplash

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisPenny StocksMarketsJohns Hopkins UniversityPsychedelics
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!