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They got it down to .042 yesterday. Buying the dip right now is a good idea especially with Canadian trading coming tomorrow maybe.
HAHAHAHAHAHAHA hilarious! I got nothing but love for my northern neighbors lol
.77usd is $1cad. If it's a Canadian LP that's also traded on the US OTC, the chances are, there's more volume on the Canadian side and they control it. It's the Canadians that always kill these smh. They sell off at $1cad and repeat.
No problem! Just following Jdanger and stockmavin's leads! Thanks guys!
Canadian's aren't trading yet.
Rumors are connecting Kalytera(ClaritasPharma) and Salzman Group's R-107 to Sanotize https://sanotize.com/covid-19/
Canadians think they'll be able to trade tomorrow.
https://kalyteran.co/index.php?/topic/584-ok-folks-think-this-is-it/
Claritas Pharmaceuticals is headquartered in San Francisco, CA. The Company has leased recently renovated 8,500 square feet of laboratory, office, and archival space in Beverly, Massachusetts, fully-equipped with state-of-the-art systems to carry out analytical, bioanalytical, and synthetic chemistry activities.
https://webcache.googleusercontent.com/search?q=cache:HECT39ojVPYJ:https://claritaspharma.com/our-company/overview/+&cd=2&hl=en&ct=clnk&gl=us
Yup, just saw myself. Thanks guys! This is great news!
From Stockhouse(so take with a grain of salt):
Message from Maui527 on stockhouse:
"Spoke to Robert....
All I can say is hopefully trading as soon as tomorrow and or maybe by end of week.
But regarless...don't sell....great news coming!!!!!"
And:
"RE:Spoke to Robert....
Additionally, the reason why the shared are trading in the US excahnge is that since BC SEC has lifted the STO they can trade. The reason why it is not trading in CND is that they are waiting for the OSC to approve which should happen hopefully as mentioned in previosu message. The increase in US is based on the positive commnets on R107...hang tight...more positives NR coming!!!!
We open at $0.10 minimum!!!!!!!"
Because this board's linked to TSX:OGI not NASADQ:OGI
PHARMADRUG APPOINTS WORLD-RENOWNED DMT EXPERT DR. STEVEN A. BARKER TO ITS SCIENTIFIC ADVISORY BOARD FOR PSYCHEDELIC PHARMACEUTICALS
https://money.tmx.com/en/quote/BUZZ:CNX/news/5087803477153092/PharmaDrug_Appoints_WorldRenowned_DMT_Expert_Dr_Steven_A_Barker_to_Its_Scientific_Advisory_Board_for_Psychedelic_Pharmaceuticals
Toronto, Ontario--(Newsfile Corp. - February 8, 2021) - PharmaDrug Inc. (CSE: BUZZ) (OTC Pink: LMLLF) ("PharmaDrug" or the "Company"), a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics, cannabis and naturally-derived approved drugs, is pleased to announce that is has appointed world-renowned chemist and neuroscientist Dr. Steven A. Barker, Ph.D. to the Company's newly-formed scientific advisory board for psychedelic pharmaceuticals to lead the research and development initiatives of N,N-Dimethyltryptamine ("DMT") for mental health, neurological and inflammatory disorders.
Dr. Steven Barker, Ph.D. has been actively involved in the research of psychedelics with a primary focus on DMT since 1976. Dr. Barker, who appeared in the 2010 documentary "DMT: The Spirit Molecule," which was hosted by actor and commentator Joe Rogan, is Professor Emeritus at Louisiana State University in the Department of Comparative Biomedical Sciences at the School of Veterinary Medicine. He held the Everett D. Besch Distinguished Professor award between 2000 and 2006 for his research into the Neurochemistry of hallucinogens, which he continues today in collaboration with academic research institutions.
"I am very excited to join PharmaDrug to lead their research initiatives in unlocking the potential of DMT as a pharmaceutical for various mental health, neurological and inflammatory disorders," said Dr. Steven A. Barker, Ph.D. "I have been involved in the research with DMT for over 40 years and my belief in DMT's potential still holds to this day and even after retirement from LSU I continue to be involved in both the mechanistic and clinical research of DMT with leading academic research institutions across the world."
"We are honoured to have Dr. Barker join our scientific advisory board and lead our psychedelic pharmaceuticals program with a focus on DMT," said Daniel Cohen, CEO of PharmaDrug. "We are quickly laying the groundwork in building a foundation that will enable us to focus our research efforts with DMT and partnering with leading research institutions to achieve our objectives in advancing the clinical development of DMT as a pharmaceutical for unmet medical needs."
DMT (N,N-Dimethyltryptamine), also referred to as the "spirit molecule" due to the intense psychedelic experience similar to lysergic acid diethylamide ("LSD") or psilocybin, is a hallucinogenic tryptamine drug that occurs naturally in plants and animals. In scientific studies at lower doses DMT was shown to have mood-elevating and calming properties and it now being evaluated to treat depression and other neuropsychiatric disorders.
The Company's psychedelic pharmaceutical strategy will focus on DMT by expanding its product pipeline through pre-clinical and clinical research and licensing, forming research collaborations with academic institutions and industry, broadening its intellectual property portfolio with unique formulations, novel uses and delivery systems, and adding medical and clinical experts to its scientific advisory board.
Interesting... you sent that to me, but not the guy who replied with the backwards racism about blacks and special priority. hmmm
The legal MJ business has been disproportionately run by people of one race. Meanwhile other groups of people are still disproportionately feeling the brunt of law enforcement and are effectively kept out. You should be disgusted at that! Not mad that a black athlete is using his platform to make the industry more fair for ALL non-white people(not just blacks).
No, I believe AKmoney sought the most miniscule community he could think of, in an effort to disparage and diminish black folk's efforts for equality in the legal cannabis sector.
This is a common technique of online bigots and racists:
"why should ___ get anything? If they do, then what about the south eastern coastal nomadic community of ___...shouldn't they get something toooo???"
uggh your post is so racially charged and cringe. It's disgusting actually.
"Push for special priority"? Hmmm, I sure wish those NYPD cops knew about my "special priority" when I was 17. When they shackled and locked me away for a few days for simply smoking a joint. Little did I know then, that I was 9x more likely than a white person to be targeted, harassed and arrested for a simple marijuana violation.
Sounds like Harrington knows the history of American marijuana law enforcement, sees the industry moving along in an unequal way and is demanding attention and policy toward it... And I guess that bothers you(too bad).
And if thru the decades, "Native Alaskans" have been unfairly and disproportionally arrested for marijuana use when compared to whites, then yes, the legal cannabis industry should be built with a focus of getting more of them involved.
Me too! Lock up the shares guys!
Total fabrication and pulled from a bad TV show storyline. OPTI's chart looks amazing. OPTI shareholders have done very well and will continue!
Yeah me too lol but hopeful for Monday. With volume this should get past .04 at least.
It didn't. I checked tmx.com and it's dead. I brought up KALTF on r/weedstocks and of course the first reply was "it's not trading on the TSXV".
Yeah I got 100k at .015 this morning. Better than nothing, I guess.
Could this get to .05 today???
Yeah I tried yesterday at .002 and it didn't execute. But today's a new day! Slap that ask!
WOW. We have L2 now too!
Capitalization 2/4/2021
Issued & Outstanding: 325,862,983
Reserved for Issuance: 160,701,540
https://thecse.com/en/listings/life-sciences/pharmadrug-inc
This Calming, Cult-Favorite CBD Balm From Lord Jones is 30 Percent Off
https://nymag-com.cdn.ampproject.org/v/s/nymag.com/strategist/amp/2021/02/lord-jones-cbd-balm-sale.html?amp_js_v=a6&_gsa=1&usqp=mq331AQFKAGwASA%3D#aoh=16124696968493&csi=0&referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fnymag.com%2Fstrategist%2F2021%2F02%2Flord-jones-cbd-balm-sale.html
With many weeks of winter ahead, now’s a good time to stock up on moisturizers and balms that’ll soothe and deeply nourish skin. This one from statusy CBD brand Lord Jones is a Rio favorite and currently on sale at Sephora for $53, down from its usual $75 price. While still a little expensive, that’s a little over 35 percent off, making this a very good deal. Thanks to ingredients like shea butter and extra virgin olive oil this balm is extra moisturizing. And its 200mg of CBD (for reference, the average CBD gummy has about 10mg) calms and relaxes your muscles—ideal after days of new-year workout challenges or aches from sitting in the same spot all day. While it won’t give you the deep relief of a Theragun or foam roller, the High Chill Balm offers surface-level relief.
Alot of ongoing developments and the company wants to be transparent and let us shareholders know what's going on!
PharmaDrug Signs Supply Agreement with Global Cannabis Supplier and Provides Update on German Operations and Balance Sheet Improvements
https://webfiles.thecse.com/sedar_filings/00032549/2102040526530534.pdf
Toronto, Ontario--(Newsfile Corp. - February 4, 2021) - PharmaDrug Inc. (CSE: BUZZ) (OTC Pink:LMLLF) ("PharmaDrug" or the "Company") has entered into a supply agreement (the "Supply Agreement") on January 4, 2021, with a Canadian based multinational cannabis company for EU-GMP certified medical cannabis. The supply is already registered and approved for sale in the German market.
Pursuant to the Supply Agreement, the Company's licensed German distributor, Pharmadrug Production GmbH ("Pharmadrug Production") will purchase branded medical cannabis from the supplier's German subsidiary. Pharmadrug Production has already received regulatory approval to distribute the
cannabis and the product has been added to their license. The flower will be imported into Germany by the global supplier and sold under the supplier's medical cannabis brand. The Company expects to begin receiving shipments of cannabis shortly with the goal of commencing distribution to its pharmacy network in the current quarter of 2021. In anticipation of increased inventory, the Company will be expanding the sales and marketing operations within its German cannabis distribution segment.
As previously disclosed, PharmaDrug's primary obstacle to significant growth of its cannabis distribution business is the lack of supply. As such, management sought to increase its supply through additional channels of already approved product while it continued to work on importing its own branded supply. Management is confident that the new flower is ideally suited for the quality requirements of the German market. The Company also expects to be able to distribute the supplier's THC extract oils and anticipates being able to access this product in the next two to three months.
Chairman and CEO Daniel Cohen commented, "We are extremely excited to begin selling the new product and to increase our offering beyond Bedrocan. Carrying a second line of medical cannabis will allow us to significantly increase our sales volumes, revenue, profit margins, and to expand our
pharmacy network as we prepare to begin importing our own product."
Mr. Cohen continued: "We will continue to work to expand our supply channels with the aim of supplying several key brands as well as developing our own. Our goal is to be a one stop shop for pharmacies seeking medical cannabis. To this end, we also continue to work with Eve & Co Incorporated to register our own strain from Eve's offerings, and much progress has been made in this regard. We are also in advanced discussions with emerging extractors within the Eurozone to supply us with a white label product that we can sell under our own brand."
CBD Business
The company has also made significant advancements towards launching a CBD line. The CBD business model will differ from PharmaDrug's Medical Cannabis busines as it will seek to be a supplier of branded product to be sold via distributors and e-commerce platforms. A quality supplier has been sourced and Pharmadrug Production is already in possession of its first shipment of bulk inventory. The product has been tested by several potential distribution partners and the feedback has been positive. Management is in the process of registering the product for approval with the applicable state regulator. Once approval has been obtained, the Company will finalize distribution agreements and begin to package the product for retail sale under a proprietary PharmaDrug brand.
Balance Sheet Update
PharmaDrug's balance sheet has undergone a significant improvement since it reported its third quarter numbers. Firstly, the selling of marketable securities and the exercising of the Company's warrants have contributed to an increase of cash on the balance sheet, now equaling approximately $3.5 million. Secondly, the Interrobang debentures have been converted into equity resulting in approximately $2.5 million in debt being eliminated. The Company still holds marketable securities with a current value of over $1 million dollars and PharmaDrug has "in the money warrants" outstanding which can potentially bring in approximately $1 million in additional cash. Management believes it has more than enough cash on hand to fund all its activities in 2021.
No problem! The OTC Markets allow cannabis companies to publicly list on their exchange even tho cannabis sales are against US federal law. In Canada, they have the CSE and TSX Venture exchanges which also allow US operating cannabis companies. Many cannabis companies founded in and operating in the US choose to go public via the CSE. The CSE has a reputation for this and is alternatively known as the Cannabis Stock Exchange. Many of these US MSOs simultaneously list on the OTC as well, which is why TCNNF, CRLBF, CURLF, GTBIF, DXBRF etc all end in "F" for foreign even tho they are US companies operating in the US.
The TSX, NASDAQ and NYSE have strict requirements to be included on their exchanges. One requirement is the company must 100% obey federal laws where they operate. Even tho cannabis is legal in select US states it still remains federally illegal. The US doesn't even have a federal medical marijuana policy like Germany, Poland, Australia etc. Cannabis is 100% federally legal in Canada so these Canadian LPs can list on any of the major exchanges and reap all the rewards. These LPs can obtain export and import licenses to ship to/from other 100% legal countries. But they can not export product out of Canada into a US state until the US federally legalizes. And it's gotta be full legalization(modification to the CSA) to get federal laws changed. None of the Canadian LPs are selling THC products in the US. And if they could, they'd have to replicate their operations in each state they operate in. Since US cannabis policy isn't federally legal, interstate commerce isn't allowed. They'd have to apply for licenses and approvals in every individual state they operate in. To prepare for all this, Canopy has a contract to buy Acreage if/when the US changes policy. Aphria bought a US beer company. Cronos/Gotham Green had MedMen. So for all these reasons, US MSOs have a jump on Canadian LPs in terms of the US market but Canadian LPs have the global advantage.
Also, the genetics are worth millions. Peace Naturals has a catalog of genetics from the early days of Canada's medical program(ACMPR). Cronos basically paid nothing for them. For these legal markets, genetics are supposed to be tracked and valued. Cronos had a settlement judgment in their favor against Canopy years back involving genetic valuations of mother plants that died. Genetics are everything in the legal cannabis business. I've heard great things about Cronos' Cove and Spinach brands on r/theOCS.
Unfortunately, Cronos can not sell THC products in the US and remain on the Nasdaq. They'd have to delist back to the OTC(not happening). Trulieve and CURA are OTC. MedMen is OTC. MedMen was supposed to be our US MSO(especially after the Pharmacann merger). Bruce Linton mentioned Canopy briefly mulled that idea over but ultimately paid Acreage 200M just for the option to buy them if the US legalized within 7 years. There's not really much Cronos can do in the US but sit and wait.
If Cronos was still an OTC stock, they could've officially bought MedMen like they did Lord Jones and could be an US MSO right now. But Cronos raced to uplist to the NASDAQ(the other LPs followed) and Cronos got the huge Altria money. MedMen was supposed to expand(Pharmacann) in their own right and merge with Cronos later on but they utterly fucked up.
I do think the CBD pet space is emerging and shows promise. Canopy's currently pushing a line with Martha Stewart. I have a small position in another US MSO that is doing pet CBD. I'm also invested in a lab operation that has shifted much to testing hemp. But overall, I feel the CBD market is very lacking. The regulations are confusing(the DEA is still treating delta 9 as an illegal narcotic), there's too many products, too many brands and overall potency is sketchy. I felt the Lord Jones brand was inaccessible to most people, so I'm glad they teamed with Kristen Bell for the Happy Dance brand.
The perception of the yeast grown cannabinoids will be tricky but with Altria's marketing machine, I expect it to work. I expect it to work for the intended consumer. I am a daily consumer, I've used flower everyday for years. Regular flower users like myself will always comprise a strong core of the cannabis market but the market share and upward trend is with concentrates and oil carts. I vape/burn flower everyday but these carts do have their advantages. These items have better margins, better shelf life and appeal to a much larger set of consumers than us regular ole flower users. All Altria has to do is create a patented line of great tasting/smelling oils that are high in the rare cannabinoid THCV and market them as "diet" or "skinny" oils and educate the public about Cannabis' rare appetite suppressing powers. Powers that you'll NEVER get in naturally occurring flowers. Or imagine an oil cart that has a patented combination of mostly CBD so it doesn't get you high but also has THCV to suppress appetite? They'll sell like hot cakes. But the market's gotta be 100% legal for us to play ball.
And as far as the genetics, that's where Altria needs Cronos. Cronos owns Peace Naturals and they have the genetics. They were grandfathered in from the early Canadian Medical program. Cronos got them for next to nothing.
PharmaDrug Completes Acquisition of Sairiyo
Therapeutics Inc.
Toronto, Ontario--(Newsfile Corp. - February 2, 2021) - PharmaDrug Inc. (CSE: BUZZ) (OTC: LMLLF) ("PharmaDrug" or the "Company"), a specialty pharmaceutical company focused on the development and commercialization of controlled-substances and natural medicines such as psychedelics, cannabis and naturally-derived approved drugs, today announced that it has completed the previously announced (see press releases dated January 12, 2021 and January 25, 2021) acquisition of Sairiyo Therapeutics Inc. ("Sairiyo") on February 2, 2021.
Sairiyo is a biotechnology company focused on repurposing and developing improved formulations of naturally derived compounds for serious, rare, and life-threatening diseases with the aim to obtain European Medicines Evaluation Agency and U.S. Food and Drug Administration ("FDA") approval. Sairiyo is advancing the clinical development of its lead drug candidate, Cepharanthine, a repurposed and reformulated naturally-derived compound for the potential treatment of cancer, neurological, inflammatory and infectious diseases.
Cepharanthine is a natural product and an approved drug used for more than 70 years in Japan to treat a variety of acute and chronic diseases. In clinical research, Cepharanthine exhibits multiple pharmacological properties including anti-oxidative, anti-inflammatory, immuno-regulatory, anti-cancer, anti-viral and anti-parasitic properties. Sairiyo has an exclusive license from a research and development organization to develop and commercialize reformulated Cepharanthine for all diseases and exclusive rights to the patent, method of manufacturing, clinical supply, pre-clinical data and know how to support FDA clinical trials.
Sairiyo is currently focused on advancing the clinical development of Cepharanthine to treat rare cancer diseases. Sairiyo recently received FDA orphan drug designation for Cepharanthine in the treatment of esophageal cancer.
Chairman and CEO Daniel Cohen commented, "We are extremely excited to close the acquisition of Sairiyo and enter into a new phase for PharmaDrug. The acquisition helps complete PharmaDrug's business model by adding a vertical in research and development."
Management will immediately move to integrate Sairiyo into the Company with a goal to refine its Cepharanthine strategy including, but not exclusively, advancing the drug into FDA clinical trials for esophageal cancer. Management will also actively seek other avenues for the drug's diverse opportunities. PharmaDrug and Sairiyo have also already begun to develop a strategy to commence unique and value adding research in the psychedelic space.
Under the terms of the agreement, PharmaDrug acquired all of the issued and outstanding shares of Sairiyo in consideration for the issuance of an aggregate of 75,000,000 units of PharmaDrug ("Units"). Each Unit is comprised of one common share of Pharmadrug and one common share purchase warrant (a "Warrant") of Pharmadrug. Each Warrant entitles the holder thereof to acquire one common share in the capital of Pharmadrug at any time on or before the August 2, 2022 at an exercise price of $0.10 per share.
Not sure how smart it'd be for Altria to spend an additional ~billion on a US CBD company for an already underachieving and oversaturated US CBD market. Cron was their investment into the cannabis space just like Canopy is Constellation's. They knew progress would be pending on US cannabis policy reform. Canopy's Acreage deal to enter the US is still pending and may never happen. Medmen was supposed to be the US brand for Cron/Altria to absorb into the umbrella but that didn't quite workout.
The possibilities are endless really. They've already discussed wholesale of rare cannabinoid powders. They'll create oil cart formulations that have high amounts of rare cannabinoids. Over time they'll be able to create formulations that mimic already known popular flower strains and be able to patent.
You're right. They do have gummies under the Lord Jones brand tho. They're just not aiming for the convenience store level...at least not yet. I thought the CBD market pretty much went bust tho.
Gotcha. Yeah, they decided to go the high end cosmetic route. I guess, with the issues with Juul and the whole vaping "crisis", they wanted to go another direction rather than focus on vapable oils in gas stations and convenience shops.
None of the US companies are publicly listed on the major exchanges. The NYSE and NASDAQ don't allow them. Only companies that operate in 100% legal operations. The Cronos Group can not export cannabis into the US. I think it's a good thing that Altria exclusively dealt with Cronos and didn't look to invest into a US company separately and is instead waiting for legalization before stepping in.
Sharecount is 322,587,183 now as of 1/26/2021. Still haven't gotten the float.
https://webfiles.thecse.com/210126_CSE_Form_9_-_Sairiyo_-_4827-0976-8408_3.pdf?.SR6E5Thj7S0RJl5wCTli54SqCVjfmE6
They have the 2 CBD brands in the US(Lord Jones and Happy Dance).There's not much more that can be done in the US right now, cannabis federally illegal.
This is indeed a game changer!
lol @ "still dumping stock"...silly
France chooses companies to supply free medical cannabis for trial program
Published 4 hours ago | By Alfredo Pascual
https://mjbizdaily.com/france-chooses-companies-to-supply-free-medical-cannabis-for-trial-program/
The French Agency for the Safety of Medicines and Health Products (ANSM) selected the companies that will supply France’s medical cannabis pilot program that’s intended to provide free products to patients enrolled in the trial.
Cannabis companies from Australia, Canada, Israel and the United Kingdom – in partnership with French pharmaceutical distributors – will provide the products for up to 3,000 patients and will not receive any money for supplying the medical cannabis.
French authorities selected main suppliers, as well as substitute suppliers to cover any shortfalls.
The list of suppliers includes:
Australia-based Althea (one lot as a substitute) and Little Green Pharma (two lots as a main supplier and one lot as a substitute).
Canada-based Aurora Cannabis (three lots as a main supplier) and Tilray (two lots as a main supplier and two lots as a substitute).
Israel-based Panaxia (two lots as a main supplier and two lots as a substitute).
U.K.-based Emmac Life Sciences (two lots as a substitute).
Applicants were judged on products, manufacturing and supply criteria.
Neither the government nor patients will have to pay for the medical marijuana, which will be supplied by the participating companies at their own cost.
The participating companies have no guarantee they will remain suppliers in the event France broadens access to medical cannabis after the experiment.
However, “with hundreds of patients already treated (at the end of the experiment) and doctors used to prescribing their products, this is probably a marketing advantage,” Nicolas Authier, a university professor and chair of the ANSM scientific committee on medical cannabis, said last October.
Cannabis products will be used only as a last resort and must meet pharmaceutical-quality standards.
Only patients with certain qualifying conditions will be permitted to participate in the trial.
“Distance learning for health professionals should start at the end of February and the first prescriptions before March 31,” Authier told MJBizDaily.
Here’s the complete list of suppliers and their partners for distribution:
THC dominant
Lot 1.1: Flower with more than 8% THC and less than 1% CBD.
Main supplier: Aurora in partnership with Ethypharm.
Substitute: Tilray in partnership with Medipha Sante.
Lot 1.2: Sublingual oil with more than 5 milligrams of THC per milliliter and less than 1 milligram of CBD per milliliter.
Main supplier: Tilray in partnership with Medipha Sante.
Substitute: Panaxia in partnership Neuraxpharm France.
Lot 1.3: Oral oils with more than 5 milligrams of THC per milliliter and less than 1 milligram of CBD per milliliter.
Main supplier: Panaxia in partnership with Neuraxpharm France.
Substitute: Emmac Life Sciences in partnership with Boiron.
THC and CBD balanced:
Lot 2.1: Flower with more than 5% THC and 5% CBD.
Main supplier: Aurora in partnership with Ethypharm.
Substitute: Tilray in partnership with Medipha Sante.
Lot 2.2: Sublingual oil with more than 5 milligrams of THC and 5 milligrams of CBD per milliliter.
Main supplier: Tilray in partnership with Medipha Sante.
Substitute: Little Green Pharma in partnership with Intsel Chimos.
Lot 2.3: Oral oils with more than 5 milligrams of THC and 5 milligrams of CBD per milliliter.
Main supplier: Panaxia in partnership with Neuraxpharm.
Substitute: Emmac Life Sciences in partnership with Boiron.
CBD dominant:
Lot 3.2: Sublingual oil with less than 1 milligram of THC per milliliter and more than 5 milligrams of CBD per milliliter.
Main supplier: Little Green Pharma in partnership with Intsel Chimos.
Substitute: Althea in partnership Laboratoires Bouchara Recordati.
Lot 3.4: Flower with less than 5% THC and more than 5% CBD.
Main supplier: Aurora in partnership with Ethypharm.
No substitute.
Lot 3.5: Sublingual oil with less than 5 milligram of THC per milliliter and more than 5 milligram of CBD per milliliter.
Main supplier: Little Green Pharma in partnership Intsel Chimos.
Substitute: Panaxia in partnership with Neuraxpharm France.
The CBD-dominant category originally had six lots in the application process, but suppliers were selected only for the three lots mentioned above.
Alfredo Pascual can be reached
PHARMADRUG ENTERS DEFINITIVE AGREEMENT FOR ACQUISITION OF SAIRIYO THERAPEUTICS INC. WHO RECENTLY RECEIVED ORPHAN DRUG DESIGNATION FROM FDA FOR ESOPHAGEAL CANCER
https://webfiles.thecse.com/210125_BUZZ_Sairiyo_PR_definitive_agreement.pdf?IQ6kihXJgb292j2NVkGy2nzdoz9uF1ob
Toronto, Ontario--(Newsfile Corp. - January 25, 2021) - PharmaDrug Inc. (CSE: BUZZ) (OTC:LMLLF) ("PharmaDrug" or the "Company"), a specialty pharmaceutical company focused on the development and ommercialization of controlled-substances and natural medicines such as psychedelics, cannabis and naturally-derived approved drugs, today announced that it has entered into the definitive agreement in respect of the previously announced (see press release dated January 12, 2021) proposed acquisition of Sairiyo Therapeutics Inc. (“Sairiyo”) on January 12, 2021. Management of the Company believe that the proposed acquisition will strengthen PharmaDrug's product pipeline, intellectual property portfolio and pharmaceutical development expertise.
Sairiyo is a biotechnology company focused on repurposing and developing improved formulations of naturally derived compounds for serious, rare, and life-threatening diseases with the aim to obtain European Medicines Evaluation Agency and U.S. Food and Drug Administration (“FDA”) approval. Sairiyo is advancing the clinical development of its lead drug candidate, Cepharanthine, a repurposed and reformulated naturally derived compound for the potential treatment of cancer, neurological, inflammatory and infectious diseases. Research and development efforts will be led by Dr. Paul Van Slyke. Dr. Van Slyke is a biotechnology entrepreneur, scientist, and serial inventor. A previous biotech co-founder and Chief Scientific Officer, Dr. Van Slyke brings to Sairiyo a breadth of experience in preclinical and IND-enabling activities. Paul’s previous research interests, complementary to those of Sairiyo, span a number of indications including acute respiratory distress syndrome, acute kidney injury, vascular inflammatory disease, sepsis and oncology. More information about Sairiyo is available on the company’s website which is located at www.sairiyothera.com
Cepharanthine is a natural product and an approved drug used for more than 70 years in Japan to treat a variety of acute and chronic diseases. In clinical research, Cepharanthine exhibits multiple pharmacological properties including anti-oxidative, anti-inflammatory, immunoregulatory, anti-cancer, anti-viral and anti-parasitic properties.1 Sairiyo has an exclusive license from a research and development organization to develop and commercialize reformulated Cepharanthine for all diseases and exclusive rights to the patent, method of manufacturing, clinical supply, pre-clinical data and know-how to support FDA clinical trials.
Sairiyo is currently focused on advancing the clinical development of Cepharanthine to treat rare cancer diseases. Sairiyo recently received FDA orphan drug designation for Cepharanthine in the treatment of esophageal cancer.
The global esophageal cancer drugs market is estimated to grow by USD $1.5 billion during 2019-2023 (Technavio 2019). According to the World Health Organization, esophageal cancer is currently the sixth most common cause of cancer death in the world and is estimated to have caused over 508,000 deaths in 2018. The American Cancer Society estimates that there will be approximately 18,000 new cases diagnosed in [insert time frame], and approximately 16,000 deaths with an estimated 20% survival rate at least five years after a diagnosis.
Sairiyo is preparing its pre-Investigational New Drug (“pre-IND”) meeting request and pre-IND briefing documents for submission to the FDA to support the clinical development of Cepharanthine in certain cancers and infectious diseases.
Sairiyo will also support PharmaDrug’s initiatives of evaluating novel uses of psychedelic and cannabinoid compounds and delivery systems.
Daniel Cohen, Chairman and CEO of PharmaDrug commented, “PharmaDrug is extremely excited to work with the Sairiyo team upon the closing of the acquisition on several fronts. Firstly, to prepare for the upcoming FDA pre-IND meeting request and secondly to explore other opportunities for Cepharanthine and its immense potential across various rare and life-threatening diseases. The Company also plans to use Sairiyo’s clinical research capabilities to potentially launch clinical studies in the pharmaceutical psychedelic space”.
Under the terms of the agreement, PharmaDrug proposes to acquire all of the issued and outstanding shares of Sairiyo in consideration for the issuance of an aggregate of 75,000,000 units of PharmaDrug ("Units"). Each Unit will be comprised of one common share of PharmaDrug and one common share purchase warrant (a "Warrant") of PharmaDrug. Each Warrant will entitle the holder thereof to acquire one common share in the capital of PharmaDrug at any time on or before the 18 month anniversary of the issuance of the Warrants at an exercise price of $0.10 per share. Following completion of the transaction Sairiyo will be a wholly-owned subsidiary of the Company.
Completion of the transaction is subject to customary closing conditions, including completion of due diligence, negotiation of definitive agreements and receipt of all necessary approvals. If such conditions are not satisfied it is possible that the proposed transaction will not be completed on the terms set forth herein or at all. The parties anticipate that the transaction will be completed in by the end of January 2021.