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 cannabis.
Here PharmaDrug holds a license that allows it to import and export schedule-one narcotics. It also has manufacturing that is good (GMP) certification.
Both are vital to its plans in Germany, and can stock and sell THC products from Bedrocan, certainly one of the world’s largest growers and manufacturers.
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 are access that is having this new product sometime in February,” says Cohen. “So, at that point, we’ll be selling both the new product and Bedrocan product.”
Cementing Its position in Germany, the ongoing business is dealing with Canada’s Eve & Co to get a plant stress it could 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 cannabis extracts and CBD. So, we are going to be a one-stop-shop in Germany.”
The Netherlands adds a growth that is second
Before we get towards the Sairiyo deal, it will probably be worth additionally taking a look at the Netherlands, that is the 2nd of PharmaDrug’s three development prongs.
Amsterdam is famous as Europe’s party town; nevertheless, Cohen’s eyesight is a global far from this hedonism of this coffee stores and smartshops (the previous host leisure cannabis users, the second sell psychedelics).
PharmaDrug really wants to produce a chain of trusted stores that stick to the ethos of a few of America’s best dispensaries that try to advise and help consumers.
“we should simply take smartshops far from medication tourism and gear them towards seeking the educated expert who desires to utilize psychedelics for increased performance that is cognitive PTSD or micro-dosing,” says Cohen. “It’s a different approach; it’s a different perspective.”
The company has bought a store, but expansion that is future apt to be done on a ‘greenfield’ basis.
The plan is always to obtain a license and build a superstore into the capital that is dutch its newly developed brand, Slim Winkle, which means ‘smart store’ in the native tongue.
With coronavirus restrictions still in place, the brand is being built online initially, says Cohen, who is itching for normal service to resume.
Moving into biotech
On to Sairiyo then, which it acquired in return for 75 million PharmaDrug shares, and would look like a departure for the company.
However, it makes sense that is perfect the truth is in which the industry is headed – towards the medicinal usage of psychedelics that undergo rigorous medical studies.
While Sairiyo’s lead drug is cepharanthine, a compound that is naturally occurring has been used for hair loss and snake bites, Cohen plans to expand its newly-acquired biotechnology franchise.
“We’re already working on something on the psychedelic side that we hope to be able to launch soon and talk about,” he says.
In The meantime, cepharanthine, which has been around 70 years, offers a global world of the latest possibilities.
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 parts of the body where it is required) and it is being developed to treat cancer.
It carries US Food & Drug Administration (FDA) orphan drug designation for its indications in oesophageal cancer.
This is a tick that is significant the container since it affords extended security for almost any effective brand new medication also income tax breaks and a potential diversion across the regulatory fast-track.
With C$3mln within the bank and C$1mln-worth of ‘in-the-money’ warrants, the business is well funded because of its needs that are immediate