PharmaTher Inc (CSE: PHRM) this morning announced that it will be conducting further research related to psychedelics. The company this morning entered into a sponsored research agreement with that of the Terasaki Institute to conduct a novel microneedle patch.
The microneedle patch to be researched and developed will look to deliver psychedelic pharmaceuticals through microdosing for unmet medical needs. Currently, the company is targeting the tech for use with psilocybin, MDMA, LSD, and DMT. The research will look to expand upon the microneedle tech currently held by the firm that was developed by the Khademhosseini Lab at UCLA.
The tech is reportedly focused on providing an alternative to oral administration, injections, topical and nasal delivery system, while overcoming certain drawbacks each method of administration currently has. Once developed, the company will look to obtain FDA approval for delivery of the psychedelic compounds for numerous needs, such as mental health, neurological and pain disorders.
“Our focus is pursuing prescription-based psychedelic pharmaceuticals for FDA and international regulatory approvals, and unlocking the potential therapeutic value of these compounds via a proprietary microneedle patch. We look forward to working with the Terasaki team lead by the Director and CEO of the Terasaki Institute, Dr. Ali Khademhosseini, in delivering next generation psychedelic pharmaceuticals with the aim to improve therapeutic and safety outcomes while potentially offering a differentiated product profile, improving patient compliance and enabling out-patient treatment options.”
Fabio Chianelli, CEO of PharmaTher
The current iteration of the microneedle technology, more formally referred to as GelMA, is reportedly safe and painless to use, while also demonstrating water-soluble and insoluble drugs with desirable release times.
PharmaTher last traded at $0.37 on the CSE.
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