Date: July 23, 2021
Small Pharma is a neuropharmaceutical company. They specialize in IP led development of novel treatments for mental health conditions, with a focus on depression. Small Pharma initiated a clinical program into DMT-assisted therapy in February 2021. This program includes a Phase I/IIa trial on its lead candidate alongside development of a robust pipeline of proprietary preclinical assets.
"DMT can be manufactured cheaply at scale. So, we can produce these medicines at costs that can compare to existing generic medicines, SSRI’s, selective serotonin reuptake inhibitors," says Director and CEO, Peter Rands.
Their recent appointment of MAC Clinical Research, one of Europe's largest independent clinical development organizations, allows them to accelerate their Phase Two-A trial by months.
Small Pharma has also started trading on the TSX Venture exchange this past May. Additionally they've raised $63 million in 2021. "It will comfortably get us to a position where we can attract either a partnership or the follow up equity funding necessary to take the compound into the market," says Rands.
DMT is a naturally occurring chemical with psychoactive properties found in plants and in the brain of mammals. Further, DMT is chemically similar to the neurotransmitter serotonin, which is involved in a variety of physiological functions in humans. This includes eating, sleep as well as mood regulation. Small Pharma has produced its own DMT-based product, SPL026, in line with good manufacturing practice guidelines laid down by agencies controlling authorization and licensing of pharmaceutical products.
"Small pharma has been at drug development for more than five years. They have a very rich history," says Managing Director and Sr Research Analyst at Roth Capital Partners, Elemer Piros.
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