Specialty R&D psychedelics company PharmaDrug Inc. (OTCQB:LMLLF) has inked a research collaboration agreement with PharmaTher Holdings Ltd. (OTC:PHRRF) to evaluate the delivery of DMT through PharmaTher's microneedle patch technology.

PharmaDrug has said that the DMT microneedle patch may enable flexible drug load capacity and combinations, controlled release delivery and potentially hold pharmacokinetic and safety profiles, overcoming obstacles associated with oral dosing.

Chairman and CEO Daniel Cohen noted that both companies' combined programs and expertise in drug delivery and pharmacology, specifically relating to DMT, "set the stage for the potential development of new treatment options for mental health conditions."

Results from PharmaTher and partner Terasaki Institute for Biomedical Innovation (TIBI)'s non-clinical study on the DMT microneedle patch will be available in early Q2 2023 and will be used to support a potential human clinical trial.

Further, following this study's outcomes PharmaDrug and PharmaTher will set a product and clinical development plan to commence regulatory discussions toward clinical studies in several indications where DMT holds promise.

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PharmaDrug has several psychedelic-related programs, including the discovery of a novel DMT analog and delivery device for the treatment of primary open-angle glaucoma with partner TIBI; the advancement of a DMT clinical research collaboration with Johns Hopkins University and the completion of foundational research on the role of endogenous DMT with the University of Michigan.

Photo: Benzinga edit with photo by aiyoshi597, Gisele Yashar, Bacsica and Gorodenkoff on Shutterstock.