PharmaDrug Inc (CSE:BUZZ) (OTC:LMLLF) encompasses almost all the facets of the evolving medical cannabis and psychedelics industry.
In one package you have a business that is involved in THC, CBD and psilocybin, and which recently expanded into the sphere of biotechnology with a reboot of a naturally-occurring, potent medicine that has shown early promise in cancer.
Not just that, the Canada-listed business has planted flags in Germany and the Netherlands, has supply chain expertise and a nascent retail strategy too.
PharmaDrug is the brainchild of Daniel Cohen, who speaks and thinks at a mile a second, barely pausing for breath on a whistle-stop tour of the business.
Germany as he takes me Is the foundation stone
While the acquisition of Toronto-based Sairiyo Therapeutics is the evolution that is latest of his strategy, the business has its roots in Germany, Europe’s most advanced market for medical
Here PharmaDrug holds a license that allows it to import and export schedule-one narcotics. It also has manufacturing that is good (GMP) certification.cannabisBoth are key to its plans in Germany, and can stock and sell THC products from Bedrocan, certainly one of the world’s largest growers and companies.
While need hasn’t been a problem for PharmaDrug, sourcing supply that is adequate satisfy that demand has. So, it is also teaming up with a canada-based company that is multinational supply further supplies of EU-GMP certified medical
.cannabis“We is going to be accessing this brand new item sometime in February,” claims Cohen. “So, at that point, we’ll be offering both this new item and Bedrocan item.”CBDCementing Its position in Germany, the ongoing company is working with Canada’s Eve & Co to find a plant strain it can white label. The aim this year is to have a flower under our own name and our own extract,” says Cohen. “We are going to have Bedrocan and the new product and we are in discussions with Canopy Growth, which has a high-THC product after that, PharmaDrug will move into
extracts and. Therefore, we will be a one-stop-shop in Germany.”cannabisThe Netherlands adds a growth that is second
Before we get to the Sairiyo deal, it is worth also looking at the Netherlands, which is the second of PharmaDrug’s three growth prongs.
Amsterdam is known as Europe’s party city; however, Cohen’s vision is a world away from this hedonism of the coffee shops and smartshops (the former host recreational
users, the latter sell psychedelics).
PharmaDrug wants to create a chain of trusted stores that follow the ethos of some of America’s best dispensaries that aim to advise and support clients.
“We want to take smartshops away from drug tourism and gear them towards going after the educated professional who wants to use psychedelics for increased performance that is cognitive PTSD or micro-dosing,” says Cohen. “It’s a new approach; it is a unique viewpoint.”
The business has purchased a shop, but expansion that is future likely to be done on a ‘greenfield’ basis.
The plan is to acquire a license and build a superstore in the capital that is dutch its newly developed brand name, Slim Winkle, this means ‘smart store’ into the indigenous tongue.
With coronavirus limitations nevertheless in position, the brand name will be built online initially, states Cohen, who’s irritation for normal solution to resume.
Moving into biotech
On to Sairiyo then, which it acquired in substitution for 75 million PharmaDrug stocks, and would appear to be a departure for the company.
However, it generates sense that is perfect you see where the industry is headed – towards the medicinal use of psychedelics that undergo rigorous clinical trials.
While Sairiyo’s lead drug is cepharanthine, a compound that is naturally occurring has been utilized for hair thinning and snake bites, Cohen intends to expand its newly-acquired biotechnology franchise.
“We’re currently focusing on one thing regarding the psychedelic part that people aspire to have the ability to introduce quickly and mention,” he states.
In The meantime, cepharanthine, which has been around 70 years, offers a global world of new opportunities.
A Drug with great promise
It has been repurposed to seriously enhance its bio-availability (the rate at which the treatment gets to the right areas of the body where it really is needed) which is being developed to take care of cancer.
It carries US Food & Drug management (Food And Drug Administration) orphan medication designation because of its indications in oesophageal cancer.
This is a tick that is significant the box as it affords extended protection for any successful new drug as well as tax breaks and a possible diversion along the regulatory fast-track.cannabisWith C$3mln in the bank and C$1mln-worth of ‘in-the-money’ warrants, the company is well funded for its needs that are immediate