- Owns 80% of Pharmadrug GmbH, a German distributor of medical cannabis
- Owned 100% by Super Smart, a Dutch company building a modern psychedelic retail store for adults
- Recently acquired Sairiyo Therapeutics, a biotech company that specializes in the research and reformulation of established natural medicines
What Pharmadrug does:
PharmaDrug Inc. () (OTCPINK: LMLLF) is a specialty pharmaceutical company focused on the research, development and commercialization of controlled substances and natural medicines such as psychedelics, cannabis and licensed medicines from natural sources.
In Medical Cannabis, the company currently procures and sells products to pharmacies in Germany with the strategy of launching and developing its own cannabis brand for distribution in Germany and other legal systems in the European Union. The company owns 80% of Pharmadrug GmbH, a German distributor of medical cannabis, with a narcotics license according to Annex I of the European Union and a German EuGMP certification.
In the case of psychedelics, the company has announced that it will be using a unique two-pronged approach. The first is to take advantage of the markets in the Netherlands by consolidating legal adult psychedelic pharmacies. Second, in the process of developing products and gaining regulatory approval or legalization in jurisdictions across the euro zone, the company will seek to leverage the company’s critical substance and distribution license to build a pharmaceutical psychedelic business.
The company owns 100% of Super Smart, a Dutch company building a modern adult psychedelic retail business with an elevated and educational focus.
PharmaDrug recently acquired Sairiyo Therapeutics, a Japanese biotech company that specializes in researching and reformulating established natural medicines to bring them through regulatory and research-driven clinical trials.
Sairiyo is focused on repurposing and developing improved formulations of naturally derived compounds for serious, rare and life-threatening diseases with the aim of gaining approval from the European Medicines Evaluation Agency and the US Food and Drug Administration (FDA).
How is it going:
PharmaDrug had a busy start into 2021.
The acquisition of Sairiyo Therapeutics was completed in early February. Sairiyo is advancing clinical development of its lead drug candidate, Cepharanthine, a repurposed and reformulated natural compound for the potential treatment of cancer, neurological, inflammatory and infectious diseases. The company is also developing a strategy to start research in the psychedelic field.
Also in February, PharmaDrug announced that on January 4, 2021, it had signed a supply contract with a Canadian-based multinational cannabis company for EU GMP-certified medical cannabis, the supply of which is already registered on the German market and approved for sale.
Under the agreement, the company’s licensed German distributor, Pharmadrug Production GmbH, will purchase branded medical cannabis from the supplier’s German subsidiary. Pharmadrug Production has already received regulatory approval to distribute cannabis and the product has been added to its license.
The group said the flower will be imported into Germany by the global supplier and sold under the supplier’s medical cannabis brand.
The company expects to begin receiving cannabis shortly to begin distribution to its pharmacy network in the current quarter of 2021.
At the same time, PharmaDrug said it had also made significant strides in introducing a line of CBD. The CBD business model differs from PharmaDrug’s medical cannabis business in that it is a supplier of branded products to be sold through distributors and e-commerce platforms.
A quality supplier has been found and Pharmadrug Production already has the first batch of bulk supplies. The product has been tested by several potential distributors and the feedback has been positive. The company’s management is currently registering the product with the appropriate state regulatory agency for approval.
Once approved, the company will enter into distribution agreements and begin packaging the product for retail sale under a proprietary brand of Pharmadrug.
PharmaDrug also announced in February that its balance sheet has improved significantly since its third quarter results were released.
First, the sale of current assets and the exercise of the company’s warrants contributed to an increase in cash on the balance sheet, which is now approximately $ 3.5 million. Second, the Interrobang Notes were converted into equity, which resulted in approximately $ 2.5 million in debt being eliminated.
The company continues to hold marketable securities with a current value of over $ 1 million and PharmaDrug has “in the money warrants” pending, which may generate approximately $ 1 million in additional cash.
The group said its management believes they have more than enough cash on hand to fund all of their activities in 2021.
In the boardroom on February 8th, PharmaDrug announced the appointment of world-famous chemist and neuroscientist Dr. Steven Barker is known to serve on the company’s newly formed Scientific Advisory Board for Psychedelic Medicines.
The company said Dr. Barker will lead the research and development initiatives of N, N-dimethyltryptamine (DMT) for mental, neurological and inflammatory diseases. He is Professor Emeritus at Louisiana State University in the Department of Comparative Biomedical Sciences at the School of Veterinary Medicine.
Dr. Barker has been actively involved in psychedelics research since 1976, with an emphasis on DMT, and appeared in the 2010 documentary “DMT: The Spirit Molecule,” hosted by actor and commentator Joe Rogan.
- Further expansion of the delivery channels
- News on talks with emerging Eurozone extractors to supply white label products
- Register your own cannabis strain from offers
What the boss says:
In the February statement, Daniel Cohen, Chairman and CEO of PharmaDrug said, “We will continue to work to expand our delivery channels to serve multiple key brands and develop our own. Our goal is to be a one-stop shop. ” Pharmacies looking for medicinal cannabis.
“To this end, we continue to work with Incorporated to register our own exposure to Eve’s offers, and great strides have been made in that regard. We are also in advanced talks with emerging extractors in the Eurozone to provide us with a white label product that we can sell under our own brand. “
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