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Co. Looks to New Structures of Psychedelic Drug for Strokes

Source: Streetwise Reports

January 26, 2022 (Investorideas.com Newswire) Algernon Pharmaceuticals Inc. has included novel salt forms of a psychedelic drug being investigated to combat strokes in its intellectual property applications.


Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGW:FSE) said it believes it has maximized its intellectual property for DMT by filing dosing, formulation, and method of use patent applications for stroke rehabilitation with the drug.

A preclinical animal study has shown that DMT - which produces effects similar to other psychedelics like LSD, ketamine, psilocybin, and psilocin - helps the brain form and reorganize the synaptic connections needed for healing after a stroke, Algernon said.

The company said DMT occurs naturally and has been used in religious ceremonies as a traditional spiritual medicine by indigenous people in the Amazon basin. It can also be synthesized in a laboratory.

Algernon specializes in finding new applications for already approved drugs or naturally occurring compounds. It specifically looks at compounds that have not been approved in the United States or Europe to avoid off-label prescription writing.

Disclosures

1) Steve Sobek compiled this article for Streetwise Reports LLC. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Algernon Pharmaceuticals Inc. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Algernon Pharmaceuticals Inc., a company mentioned in this article.

6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

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