FULL DISCLOSURE: This content is sponsored by PharmaDrug Inc.
PharmaDrug Inc (CSE: PHRX) has established a strategic plan to push forward with its intent to support safe supply programs through the use of its patent pending novel manufacturing method for the commercial-scale production of biosynthetic cocaine.
The strategy was released this morning in a letter to shareholders released by PharmaDrug’s CEO Robert Steen, whom identified that the main goal is “developing, manufacturing, and distributing a biosynthetic version of pharmaceutical-grade cocaine, tailored to meet the increasing demand in the burgeoning safe supply market.”
In respect of the safe supply side of the equation, the company has been engaging with jurisdictions globally to cultivate strategic relationships that will establish the company as the preferred partner in the emerging industry. As part of its strategic initiatives, PharmaDrug is in the process of identifying clinical trials and research studies worldwide for opportunities for its product to be used.
On the business end of the equation, PharmaDrug is said to be exploring “diverse paths to revenue,” with such opportunities to include potential licensing of the product, along with seeking joint ventures or the implementation of a royalty model for the use of the biosynthetic cocaine in clinical trials. An advantage here, as per the company, is the ability to accelerate commercialization due to streamlined regulatory processes when compared to traditional biotech firms.
The current strategy calls for the first commercial batch of biosynthetic cocaine to be produced within the next 12 to 15 months, which is aligned with expected potential demand from emerging markets both domestically and internationally. The company is currently in the process of optimizing its process development methods, which is expected to result in a test batch of product in advance of commercial scale manufacturing.
Corporately, PharmaDrug has indicated that at this point the company will seek a partnership with a Canadian pharmaceutical dealer and manufacturer to initiate commercial batch production. At the same time, marketing is expected to begin with established licensed dealers that will target jurisdictions with emerging safe supply markets.
“Management’s strategic focus will be to maintain SecureDose’s strategy of developing synthetic formulations, aligning with the potential third wave of drug policy reform. While the Company already possesses biosynthetic formulations, our focus remains on refining them for scalable and economically viable production in pharmaceutical-grade facilities,” continued Steen.
PharmaDrug last traded at $0.03 on the CSE.
FULL DISCLOSURE: PharmaDrug is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of PharmaDrug. The author has been compensated to cover PharmaDrug on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
